Delaware has been dropped from MoneyRates.com’s list of best states for young people to earn a living. It was replaced by Minnesota. The site compares the factors its editors believe are important to millennials – ...
Delaware has been dropped from MoneyRates.com’s list of best states for young people to earn a living. It was replaced by Minnesota.
The site compares the factors its editors believe are important to millennials – jobs, affordable rents, nightlife, access to broadband and other amenities.
Their findings: the best states for young people are Wyoming, Washington, Virginia, North Dakota , Texas, Ohio, Michigan, Colorado, Illinois and Minnesota. Wyoming came out on top on the strength of its high median wages and low cost of living combined with no state income tax.
Why did Minnesota crack the top 10 for 2016 instead of Delaware? It’s median wage and its low unemployment rate were the winning factors, even though its state tax burden is among the highest in the U.S. At least Delaware didn’t make MoneyRates’ worst state list.
Wyoming came out on top for 2016 on the strength of its combination of high median wages with low cost of living and no state income tax. Hawaii was named the Worst State to Make a Living for the sixth year in a row for its high state taxes and its high cost of living, which is 68.6 percent above the national norm. The second-worst was Oregon, with a high cost-of-living, the highest state taxes in the nation, and pretty high workplace-related injuries and illnesses.
The runners-up for worst were Maine, California, Vermont, New York, Montana, South Carolina and Rhode Island.