MEMPHIS, Tennessee —
Just how much of an impact will stimulus checks make? It depends on where you live.
According to a a new national ranking by Ownerly, Mississippi and Arkansas are ranked first and second, respectively, when it comes to the impact stimulus checks will have.
Ownerly analyzed census data to estimate the payouts of stimulus checks, based on the number of families that fall within the designated income levels for partial or full monies. Ownerly took that information and compared it to the average monthly bills for families in each state.
Ownerly found that stimulus checks will have the greatest impact for those living in Mississippi, followed by Arkansas. Tennessee was ranked 16. Stimulus checks will have the least impact in Hawaii, California, and Massachusetts, which were ranked 48-50, respectively.
The four key metrics Ownerly used to determine a state’s average household bills were average rent, utilities, cable/satellite, and mobile phone.
According to Ownerly, the estimated payout per qualifying family in Mississippi tops the nation at $2,659.
To determine stimulus check estimates, “Ownerly examined U.S. Census data for average family size and number of children; our calculations are based on income distribution by population in each state. To determine monthly expenses, we used state median rental data from Zillow Inc. and average monthly bill payment data from payment app Doxo.com.”
“To be sure, there are few who believe the payouts will cover full costs for the recently unemployed, especially facing an uncertain time frame in which employment markets may recover from the coronavirus,” said Richard Gargan, spokesman for Ownerly.
“Rather, the index gives a directional indication of the states which stand to economically benefit the most based on average family size and monthly costs,” Gargan said.
Click here to read the full report by Ownerly.
