Montgomery County Residents Are Among Highest Earners in Pennsylvania

Ken Knickerbocker
By
Lancaster Avenue in Ardmore - JM - MONTCO Today
Montgomery County residents are among the highest earners in Pennsylvania, according to a new analysis recently published by SmartAsset. Image via Jack McGuane.

Montgomery County residents are among the highest earners in Pennsylvania, according to a new analysis recently published by SmartAsset.

The analysis was completed as part of SmartAsset’s study on places with the most purchasing power in each county in Pennsylvania as well as nationwide.

To compile the ranking of places where the average living expenses are most affordable to the people living there, the financial technology company looked at the income data for each county, which also included a breakdown in the cost of living.

Montgomery County ranked second, behind only Chester County, in median income in Pennsylvania, with an average income of $84,791 and a Median Income Index of 59.40. This helped the county come in the top 100 nationwide in  seventy-second place.

The county also came in second place for Pennsylvania based on purchasing power. With a Purchasing Power Index of 69.83, the county ranked eighty-fifth nationwide.

The county has been the area with the second-highest purchasing power in the Keystone State for at least the last six years, according to SmartAsset.

However, its cost of living at $47,556 placed Montgomery County in second-to-last place for the Keystone State, as well as at No. 3015 nationally.

See the entire ranking at SmartAsset by clicking here.

You Might Also Like

Montgomery County Home to More Millionaires Than Any Other County in Pennsylvania … by Far

Philadelphia Magazine: Main Line Multimillionaire Wants to Take On Internet Itself in Effort to Promote Privacy

Montco Home to 10 of the Region’s 50 Wealthiest ZIP Codes, Including the Top Two

Advertisement