According to a recent study by SmartAsset, residents in Mecklenburg County are among the highest earners in North Carolina. The analysis was completed as part of the company’s study on the places with the most purchasing power. The income data is a key factor in the study, which also includes the cost of living data to determine the places where residents have the most purchasing power.
The study was calculated using two different costs of living metrics for a household with one adult and no dependents. One reflected the baseline cost of living in each location and the other reflected expenditures typical to someone making the county’s median income. SmartAsset combined these two numbers using a weighted average based on how close each county’s median income was to the minimum livable income in that area. They then subtracted income taxes paid in that area.
According to their findings, Mecklenburg Country ranks number seven on the most affordable places to live versus median income. Number one is Wake Country followed by Union and Orange as runners-up.
For a closer look at the places in North Carolina with the highest median incomes, check out the table below: