When it comes to Georgia counties with the highest net worth in 2019, Fayette County tops the list.
A recent survey by SmartAsset.com showed Fayette with the highest net worth of the state’s 159 counties. The survey calculated net worth to income per capita and net worth to debt per capita to arrive at the net worth index.
The Highest Net Worth Index showed Fayette with a score of 52.77, followed by Forsyth County with a score of 39.76 and Harris County with a score of 38.68.
Rounding out the remaining Top 10 counties were Union, Rabun, Pike, Oconee, Butts, Henry and Columbia.
Fayette led other counties with a per capita income of $39,936 and a per capita net worth of $80,585.
Explaining the methodology used, SmartAsset.com said, “First, we calculated the ratio of net worth to income per capita for every county. To achieve this, we divided the median household net worth by the average household size. We then divided that figure by the per capita income in each county. This number can serve as insight into how much people have saved or invested relative to their income.
“We also calculated the ratio of net worth to debt per capita for each county. We calculated this figure by dividing the median household net worth by the average household size in each county. We then divided that amount by the per capita debt in each county. This measure incorporates a view of county residents’ debt burden relative to their net worth.
“Finally, we created an overall index by combining the ratio of net worth to income per capita and net worth to debt per capita. The net worth to income index was given a weight of two and the net worth to debt index was given a weight of one. The counties with the highest overall index values represent those that have accumulated the highest net worth per capita, relative to income and debt, according to our study,” SmartAsset.com said.
The net worth of an individual is the fair market value of all his assets (wherever located) less the balance of all his debts. For a corporation, it is pretty much the same (but it’s generally called stockholders’ equity). It can vary from day to day, of course, and is often difficult to ascertain with precision. So, what does one mean by the net worth of Fayette County? Is it the net worth of every person residing in Fayette County divided by the number of residents? Since corporations generally have stockholders who in the end would be counted as persons, that might make some sense. But how does anybody know the net worth of every county resident? In fact nobody knows, and many people don’t even know their own net worth. Which leads me to believe that this article is hocus pocus pseudo-scientific trash designed to impress and flatter the citizenry but truly unworthy of any serious consideration.