According to this, Everton have the 7th most expensively assembled squad in the league (most accurate predictive factor). That would make 7th the right place. Higher and Koeman has done well, lower and he's under-achieved
http://www.football-observatory.com/IMG/sites/b5wp/2016/159/en/
http://www.football-observatory.com/IMG/sites/b5wp/2016/159/en/