Norfolk County's Dollar Stretches the Second Farthest: Study

By CHARLENE ARSENAULT (Patch Staff)

Norfolk County has the second-strongest purchasing power of all in Massachusetts, according to a recent study that takes a look at the cost of living expenses balanced with the average income.

The study released by SmartAsset, a personal finance resource, showed that Norfolk County is near the top when it comes to getting the most for your money in Massachusetts, with a purchasing power index of 78.03. The study arrived at the index by measuring Norfolk County's second-highest cost of living amount at $53,341 as it compared to a median income of $86,469.

The study, according to SmartAsset, aimed to find the "places where average living expenses are most affordable to the people who live there. To find these counties we looked at the cost of living relative to income to determine the purchasing power."

Two different cost of living numbers were calculated for a household with one adult and no dependents. One, according to SmartAsset, reflected the baseline cost of living in each area and the other was based on expenditures typical to someone making the county’s median income.

Here is how the counties ranked in terms of purchasing power:

1. Worcester County
2. Norfolk County
3. Nantucket County
4. Middlesex County
5. Plymouth County
6. Dukes County
7. Hampshire County
8. Essex County
9. Barnstable County
10. Berkshire County

Find the complete study here.