Keweenaw Report Your Source for Local News and Sports
Do you feel like you’ve got a lot of debt?
Well, a New York-based financial technology company says Houghton County has one of the lowest per capita debt ratios.
SmartAsset ranks Houghton has having the third lowest debt index in the state and 112th in the nation.
Dickinson County was the lowest in the country.
They figured this out by looking at the amount of credit card, auto and mortgage debt local residents have then compared that to the average annual income.
You can view their findings by clicking here.
| Rank | County | Income | Credit Card Debt as % of Income | Auto Debt as % of Income | Mortgage Debt as % of Income | Lowest Debt Index |
|---|---|---|---|---|---|---|
| 1 | Dickinson, MI | $24,948 | 7.3% | 5.3% | 26.9% | 1.00 |
| 2 | Menominee, MI | $22,705 | 9.3% | 6.9% | 49.9% | 0.84 |
| 3 | Houghton, MI | $19,883 | 10.4% | 7.4% | 45.0% | 0.82 |
| 4 | Roscommon, MI | $23,074 | 7.1% | 13.8% | 58.1% | 0.81 |
| 5 | Gogebic, MI | $20,570 | 10.5% | 9.3% | 42.2% | 0.80 |
| 6 | Delta, MI | $22,525 | 9.2% | 8.8% | 57.2% | 0.80 |
| 7 | Iosco, MI | $23,262 | 8.7% | 11.1% | 55.3% | 0.80 |
| 8 | Mason, MI | $23,563 | 8.7% | 9.9% | 65.1% | 0.78 |
| 9 | Alpena, MI | $21,975 | 8.2% | 13.2% | 59.8% | 0.77 |
| 10 | Midland, MI | $29,408 | 7.3% | 12.2% | 74.1% | 0.76 |
