In this article, we will take a look at the 5 best states to live in: 2024 rankings. If you would like to read our discussion on the US economy, you can go to the 15 Best States To Live In: 2024 Rankings.
5. Iowa
Total Score: 13.52
If affordability is a top priority, Iowa stands out as one of the most cost-effective states. Living in Iowa is budget-friendly due to lower everyday expenses and housing prices compared to the national average. Another significant advantage is the sense of safety, as crime rates consistently remain lower than the national average. In addition, welcoming locals and vibrant communities support a high standard of living by creating a feeling of community and belonging. The state is also home to renowned educational institutions such as Iowa State University, the University of Northern Iowa, and the University of Iowa.
4. Nebraska
Total Score: 13.47
Nebraska is well-known for its vast open areas, breathtaking scenery, and friendly residents. Nature buffs will discover hidden gems in Nebraska’s picturesque settings, such as the Sandhills and the Missouri National Recreational River. Nebraska also has a low crime rate of 2.83 incidents per 1000 individuals for violent crimes. The state’s cost of living is 9% below the national cost of living, making it an attractive option for those looking for affordability. The Cornhusker State has one of the busiest rail networks in North America, 300 inland miles of waterways, and nine major airports. Furthermore, Nebraska has one of the lowest unemployment rates in the nation at 2.3% and is home to seven Fortune 500 companies.
3. Idaho
Total Score: 11.58
Idaho has a flourishing job market, with the state’s unemployment rate sitting around 3.3%, compared to the national average of 3.7% as of February 2024. In terms of affordability, Idaho is a relatively inexpensive area to live in, with lower housing and living costs compared to the national average. The Gem State does not charge taxes on Social Security retirement benefits and has low property taxes. Idaho is also a safe state, with violent crime rates lower than the national average. Idaho’s scenic beauty improves its attractiveness, particularly with the presence of iconic landmarks such as Yellowstone and Grand Teton National Parks at the Idaho-Wyoming border.
2. Utah
Total Score: 10.81
Utah has a strong public education system featuring institutions like the University of Utah and Brigham Young University. The Beehive State enjoys a relatively low crime rate compared to the national average, as indicated by FBI data, making it a safer place to live. In general, Utah has a lot to offer in terms of recreational opportunities, healthcare, education, and natural beauty. Salt Lake City serves as a regional hub for finance and trade, attracting major businesses such as Meta Platforms, Inc. (NASDAQ:META) and Apple Inc. (NASDAQ:AAPL), contributing to the state’s economic vitality.
1. Washington
Total Score: 9.76
Nicknamed “The Evergreen State,” Washington offers stunning scenery with mountains, forests, the Pacific Coast, and national parks like Mount Rainier. Furthermore, the state has a vibrant cultural scene, with major cities like Seattle offering a cosmopolitan atmosphere with museums and theaters. The state has a strong economy and is home to many Fortune 500 companies, including Amazon.com, Inc. (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT). Washington is one of the few states without an income tax, potentially leading to increased disposable income for residents.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out the 20 Most Popular Religions in the World and the 15 Countries With the Most Beautiful Nature in Europe.
