Vermont Business Magazine For the second consecutive year,New Hampshireranks as the Number 1 state for families to live richer lives, finds a new study by personal finance website GOBankingRates. WyomingandVirginiahave moved up in the rankings as the second- and third-best states for families.New Mexicosaw the most dramatic decline on the list, replacingCaliforniaas the worst state for families to live richer in 2017.Vermont ranked Number 9. Vermont ranked highly because of education, median household income and safety. But its rank was lowered by its cost of living.
To identify locations that offer the best quality of life for families, GOBankingRates evaluated all 50 states. The rankings were determined by analyzing 12 key factors grouped into the following five categories:
- Jobs and Income: Median household income and state unemployment rate
- Housing: Median home listing price and state property tax rate
- Lifestyle: State tax rate, annual child care costs, cost of groceries and school district grade
- Healthcare: Average family health insurance premium and percentage of employer contribution to employee health insurance
- Safety: Annual Violent crime rates and property crime rates
For full study results and more details on methodology, visit:Best and Worst States for Families to Live a Richer Life
Best States to Live Richer
1.New Hampshire
- Median Household Income:$66,779
- Median Home List Price:$278,000
- Violent Crimes Per 1,000 People: 1.99
2.Wyoming
- Median Household Income:$58,840
- Median Home List Price:$238,125
- Violent Crimes Per 1,000 People: 2.22
3.Virginia
- Median Household Income:$65,015
- Median Home List Price:$299,950
- Violent Crimes Per 1,000 People: 1.96
4.North Dakota
- Median Household Income:$57,181
- Median Home List Price:$201,500
- Violent Crimes Per 1,000 People: 2.39
5.Delaware
- Median Household Income:$60,509
- Median Home List Price:$260,000
- Violent Crimes Per 1,000 People: 4.99
Worst States to Live Richer
1.New Mexico
- Median Household Income:$44,963
- Median Home List Price:$219,000
- Violent Crimes Per 1,000 People: 6.56
2.Louisiana
- Median Household Income:$45,047
- Median Home List Price:$204,400
- Violent Crimes Per 1,000 People: 5.4
3.California
- Median Household Income:$61,818
- Median Home List Price:$499,000
- Violent Crimes Per 1,000 People: 4.26
4.Texas
- Median Household Income:$53,207
- Median Home List Price:$270,000
- Violent Crimes Per 1,000 People: 4.12
5.Washington
- Median Household Income:$51,062
- Median Home List Price:$344,950
- Violent Crimes Per 1,000 People: 2.84
Additional Study Insights
- New Mexicohas the highest rate of violent crimes at 6.56 per 1,000 residents and its schools have the third-lowest grade in the U.S.
- Vermontis the safest place to live on the list with the lowest property crime and violent crime rates.
- Massachusettshas the highest-rated schools out of the 50 states on the list.
9. Vermont
- Median household income: $55,176
- Median home list price: $249,500
- Child care costs: $21,522
- Average family health insurance premiums: $17,835
- Violent crimes per 1,000 people: 1.18
Vermont ranks ninth in our list of best states to live in for families thanks to its good schools. The state’s school grade — 83.8 out of 100 — is the third highest on our list. It’s also the safest state to live in because it has the lowest violent crime and property crime rates.
Vermont’s median household income is higher than the national median, but the cost of living also is higher here — which pulls the state down in the rankings. child care and grocery costs are higher here than in most of the states. And Vermont has the fifth-highest property tax rate.
About GOBankingRates
GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us here.
Source: LOS ANGELES,Aug. 17, 2017/PRNewswire/ --www.gobankingrates.com