Dayton-area residents are more likely to have “fun money” after they pay their bills, compared to other small metro areas in Ohio, according to a new report.
The Dayton area ranked number one for discretionary income in Ohio, benefiting from low housing expenses, according to Trove Technologies, which analyzed data from the Bureau of Labor Statistics, The Tax Foundation, and The Council For Community and Economic Research.
LOCAL: Longtime Dayton printer moving to Vandalia
“Dayton ranks in the top echelon of cities when it comes to enabling workers to keep more of what they earn,” Michael Pao, co-founder of Trove Technologies, Inc., said in a statement. “Our research finds that Dayton blows away the the rest of the country in terms of affordability, with housing expenses coming in at 46 percent lower than the national average.”
RELATED: Dayton area getting $1.2M children learning center
Some of the findings for the Dayton area included:
• The Dayton area ranks No. 1 among small to medium sized cities in Ohio for discretionary income across all occupations.
• It placed the average discretionary income for the Dayton region at $7,879, subtracting taxes and basic expenses from the average salary.
• Salaries in area counties are about average compared to the rest of the state, but housing expenses are 11.1 percent lower.
The full methodology for the data analysis is outlined here.
FIVE FAST BUSINESS READS
Ohio Supreme Court: Apologies that admit fault can’t be used in suit
Huffy moving its headquarters