MILTON — Santa Rosa County is seventh in the state for income growth, according to a study by SmartAsset, a financial technology company.
SmartAsset analyzed census data over a five-year period to determine where incomes were growing the fastest and Santa Rosa County ranked among the top places in Florida.
The study factored in a semi-monthly paycheck, purchasing power, the unemployment rate and income growth to create an overall income growth index.
Assuming a $50,000 annual income and a $1,687 semi-monthly paycheck, Santa Rosa residents have 1.84 times the purchasing power after income growth of 1.4 percent, according to SmartAsset's website. The site listed a 4.8 percent unemployment rate in the county.
Counties ranked first through sixth, ahead of Santa Rosa, in the study's results are Sumter, Calhoun, Dixie, Suwanee, Washington and Leon.
The study ranked Escambia and Okaloosa counties 12th and 13th in the state, respectively.
Visit https://smartasset.com/taxes/paycheck-calculator#florida/income to read the full study and its findings.