Life is significantly more expensive for millennials today than it was for their parents. But, depending on where they choose to live, millennials can still maximize both their salaries and their quality of life.
To determine the best places for young people, personal finance site WalletHub evaluated all 50 state plus Washington, D.C., according to five major factors:
- Affordability: Includes cost of living, average monthly earnings and homeownership rate
- Education and health: Includes how often millennials see the doctor and dentist and how many are diagnosed with depression
- Quality of life: Includes how many millennials live on their own versus with their parents and how singles-friendly each state is
- Economic health: Includes unemployment rate, number of entry level jobs and average earnings growth
- Civic engagement: Includes voter turnout rate and volunteer rate
From there, WalletHub ranked each state to reveal where 20- and 30-somethings are able to thrive. Here are the 15 states that came out on top, where millennials are most likely to be happy, healthy, employed and able to afford rent.
15. Connecticut
Affordability rank: 41
Quality of life rank: 23
Education and health rank: 3
Economic health rank: 29
14. Vermont
Affordability rank: 50
Quality of life rank: 20
Education and health rank: 4
Economic health rank: 12
13. Pennsylvania
Affordability rank: 24
Quality of life rank: 15
Education and health rank: 15
Economic health rank: 36
12. New Hampshire
Affordability rank: 46
Quality of life rank: 21
Education and health rank: 11
Economic health rank: 2
11. Washington
Affordability rank: 22
Quality of life rank: 8
Education and health rank: 26
Economic health rank: 11
10. South Dakota
Affordability rank: 26
Quality of life rank: 26
Education and health rank: 7
Economic health rank: 7
9. Colorado
Affordability rank: 33
Quality of life rank: 7
Education and health rank: 27
Economic health rank: 3
8. Nebraska
Affordability rank: 18
Quality of life rank: 13
Education and health rank: 21
Economic health rank: 6
7. Utah
Affordability rank: 32
Quality of life rank: 11
Education and health rank: 16
Economic health rank: 8
6. Wisconsin
Affordability rank: 27
Quality of life rank: 5
Education and health rank: 12
Economic health rank: 13
5. Iowa
Affordability rank: 5
Quality of life rank: 14
Education and health rank: 6
Economic health rank: 10
4. Massachusetts
Affordability rank: 39
Quality of life rank: 3
Education and health rank: 2
Economic health rank: 5
3. Minnesota
Affordability rank: 17
Quality of life rank: 6
Education and health rank: 10
Economic health rank: 9
2. North Dakota
Affordability rank: 1
Quality of life rank: 9
Education and health rank: 18
Economic health rank: 1
1. Washington, D.C.
Affordability rank: 43
Quality of life rank: 1
Education and health rank: 1
Economic health rank: 16
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