Study Shows Volusia One Of Best Places To Save Money

By on November 27, 2018 in WNDB News

Volusia County, FL – Where you live can have a big impact on how much you can save, and a recent study from a financial technology company says Volusia is one of the best choices in the state.

SmartAsset released that new study, showing Volusia County ranks in the top ten Florida counties where it pays to save.

Their study aims to find the most suitable places for people to get paid the most on savings based on average savings account rates, median household income, average living expenses and income tax burden.

Volusia County ranks 7th on their list, showing a net median income of $8,389 and effective tax rate of 12.27%, with the average savings account rate of 0.38%, average interest earned of $139 and a savings rate return of 0.33%.

The neighboring counties of Lake and Seminole also ranked in the top ten with Volusia, with Lake coming in at 9th and Seminole at 8th.

However, Flagler did not make the top ten list, coming in at 55th out of all 67 counties. Flagler’s statistics shows a net average income of $14,039 with an average savings account rate of 0.06%, with $34 interest earned.

To read more and get local, state and national statistics, you can check out SmartAsset’s full study.

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