Use SmartAsset’s paycheck calculator to calculate your take home pay per paycheck for both salary and hourly jobs after taking into account federal, state and local taxes.
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To find the most paycheck friendly places, we considered four factors for counties across the U.S.: Semi-Monthly Paycheck, Purchasing Power, Unemployment Rate and Income Growth.
First, we calculated the semi-monthly paycheck for a single individual with two personal allowances. We then created a purchasing power index for each county. This reflects the counties with the highest ratio of household income to cost of living. Then, we created an unemployment index that shows the counties with the lowest rate of unemployment. For income growth, we calculated the annual growth in median income throughout a five year period for each county and then indexed the results.
Finally, we calculated the weighted average of the indices to yield an overall paycheck friendliness score. We used a one-half weighting for semi-monthly paycheck and a one-sixth weighting for purchasing power, unemployment rate and income growth. We indexed the final number, so higher values reflect the most paycheck friendly places.
Sources: US Census Bureau 2022 American Community Survey, Bureau of Labor Statistics, SmartAsset
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