Americans who are thinking of relocating to another state have a lot to consider before loading the moving van because each has its own benefits and disadvantages.
A new study from the personal finance website WalletHub finds that some states stand out with the benefits they offer, while others are more notable for their drawbacks.
“When deciding on a place to move, you should first consider financial factors like the cost of living, housing prices and job availability,” Cassandra Happe, a WalletHub analyst, said in a statement.
Happe noted, however, that many states have strong economies, so a wide variety of other factors come into play, such as health and safety considerations and whether there is adequate access to preferred activities. “If you have children, a robust education system is also key.”
In order to determine the best and worst places to live in, WalletHub compared the 50 states across these key dimensions:
- Affordability, including cost of living, median annual property taxes and homeownership rate
- Economy, including median debt per median earnings, entrepreneurial activity, job opportunities and general tax friendliness
- Education and health, including high school graduation rate, share of insured population and quality of public hospital system
- Quality of life, including weather, access to public transportation, fitness centers per capita and air quality
- Safety, including total law-enforcement employees per capita, property-crime rate and traffic-related fatalities per capita
Researchers evaluated those dimensions using 51 relevant metrics, and graded each one on a 100-point scale, with a score of 100 representing the most favorable living conditions.
See the gallery for the 12 best states to live in, according to WalletHub.