Washington County Voted as Most Financially Healthy of All Counties in Illinois

Washington County was voted as one of the most financially healthy places in Illinois, according to a New York financial technology company.  SmartAsset performed their study, which analyzed debt, bankruptcy, poverty and unemployment in counties across Illinois.  SmartAsset took a holistic approach, by considering debt as a percent of income, bankruptcies per 1,000 people, poverty rates and unemployment rates in the analysis.  Washington County consistently is ranked among the best counties in Illinois in regard to having a low unemployment rate, being at number 2 this past month.  Washington County in total had 1.74 bankruptcies, with debt at 0.64-percent per-income, with the poverty rate at 9.3-percent and unemployment at 2.9-percent.  Financial Health Index was calculated by weighing debt as a percent of income 25-percent, bankruptcies 40-percent, poverty rates at 20-percent and unemployment at 15-percent.  By those calculations, Washington County and their financial health index was at 92.17, which was the best in the state.  The only county in the area that was in the top 10 was Monroe County, with a score of 88.98.  A financially healthy county means that residents have low average debt as a percent of income, along with a low change of being affected by personal bankruptcies, poverty or unemployment.