The quality of life for a family is a lot more than just income. Lifestyle, climate, affordability, safety, housing quality and access, and other factors come in to play.
Where does one find the best place to get the most out of life? To come up with a state-by-state ranking (including the District of Columbia), GoBankingRates.com looked at 12 variables and condensed them down to four categories:
- Jobs and Income – median household income and the state unemployment rate
- Housing – median home listing price and effective state property tax rate
- Lifestyle – state tax rate, annual child care costs, cost of groceries and school district grades
- Healthcare – average family health insurance premium and employer contribution percentage
- Safety – violent and property crime rates
They then normalized these on a zero to 100 scale, with zero being the worst and 100 the best.
So which states ranked the best and worst? Among the top 10 states
To read the entire study click https://www.gobankingrates.com/personal-finance/best-worst-states-families-live-richer-life/
No doubt these results would not apply to all. I live in Texas and believe that you can live as rich a life in the Lone Star State as anyplace. Plus I do not like the cold. Thousands of people across the country relocate to Florida – both young and old in order to live a great life style. New Mexico also has what I believe a great quality of life that is highly affordable. Great people too.
Note that just 7.5 percent of the total U.S. population resides in the top-10 ranked states, so obviously, much of the country disagrees with these conclusions.