Deciding on a place to call home can be a tough process. You’ll need to balance things like the cost of living with job opportunities, quality of education and safety. Personal preference also comes into the equation, as you’ll want to live somewhere with the types of attractions, recreational opportunities and weather that suit you. Fortunately, there are 50 states to choose from, from frigid Alaska to sunny Florida. Each has its own benefits and drawbacks.
Some states clearly outshine others in various categories. To identify the best states to live in, WalletHub compared the 50 states based on 51 key indicators of livability. They range from housing costs and income growth to the education rate and quality of hospitals.
Top 5 States to Live In:
1. Massachusetts
2. Florida
3. New Jersey
4. Utah
5. New Hampshire
“When deciding on a place to move, you should first consider financial factors like the cost of living, housing prices and job availability,” said Cassandra Happe, a WalletHub Analyst. “Many states have strong economies, though, so you should also consider a wide variety of other factors, such as how where you live will impact your health and safety, and whether you will have adequate access to activities that you enjoy. If you have children, a robust education system is also key.”
In-Depth Look at the Best States to Live In:
Massachusetts
Massachusetts is the best state to live in, due in large part to its strong health care system and high-quality education.
Massachusetts has the lowest premature death rate in the country and the lowest share of adults in fair or poor health. It also has the highest share of residents with health insurance coverage, at 97.3%.
The Bay State also ranks first for the quality of its school systems. It has the fourth-best high school graduation rate in the country, too, at over 90%. Good-quality education has helped the state’s residents succeed financially, with the third-highest median household income, at over $94,000.
Finally, Massachusetts has the third-lowest property crime rate in the country and has the third-best access to public transportation.
Florida
Florida is the second-best state to live in, boasting one of the lowest unemployment rates in the country, at just 2.9%, along with the sixth-most job opportunities per capita. It also has the seventh-lowest tax rates and the sixth-highest median household income growth, making it a great place to build and grow wealth
In addition, the Sunshine State offers a multitude of ways to spend your leisure time, with an especially large number of restaurants, beaches, fitness centers, and theaters per capita.
To top things off, Florida is a pretty safe state. It has the ninth-most law enforcement employees per capita, which has contributed to the 13th-lowest violent crime rate and the 15th-lowest property crime rate.
New Jersey
New Jersey is the third-best state to live in, and it has the highest median household income in the country, at over $96,000. In addition, New Jersey residents have the second-lowest median debt, the equivalent of around 31% of what they earn in a year. The Garden State has done a good job of tackling poverty, too, with the fifth-lowest share of the population below the poverty line and the eighth-lowest food insecurity rate.
When it comes to health, New Jersey residents have the fourth-lowest premature death rate in the nation, the sixth-lowest obesity rate, and the 10th-best overall life expectancy. One reason for the low obesity rate in particular is the fact that the state has the sixth-most miles of trails and the fifth-most fitness centers per capita, which gives people plenty of opportunities to stay active.
Finally, New Jersey has the sixth-lowest violent crime rate and ninth-lowest property crime rate, due in part to the fact that it has the highest number of law enforcement employees per capita.
Click here for the full ranking from WalletHub.
The post This Northeastern State Tops 2024 List of Best States to Live In first appeared on The MortgagePoint.
