Housing News

The 10 Best States to Live in 2024

Homebuyers looking for the best states to live in have plenty of options available across the nation. However, they may want to take a close look at the Northeast.

That's because half of the top 10 states to live in are in the Northeast, according to a recent WalletHub report. The remaining states were spread across different regions.

Topping the list was Massachusetts.

"Massachusetts is the best state to live in, due in large part to its strong health care system and high-quality education," said WalletHub Analyst Cassandra Happe in a statement.

WalletHub ranked all 50 states using 51 metrics that looked at affordability and cost of living; state economies, including the unemployment rate; education and health; quality of life; and safety.

The Bay State nabbed first place for education and health, sixth in quality of life, and seventh in safety, according to WalletHub. It has the highest percentage of residents covered by health insurance at 97.3% and has an over 90% high school graduation rate.

Many of the state's residents are also doing well financially, with a median household income of more than $94,000, according to WalletHub.

However, Massachusetts ranked 44^th in affordability. The average Massachusetts home value was $635,183 in August, worth about 75% more than the national home value of $362,481, according to Zillow.

What are the 10 best states to live in?

The next best state to live in was Florida. The Sunshine State ranked fourth in quality of life. It was also home to six out of 10 of the top cities for first-time homebuyers, according to a separate WalletHub report.

The top 10 best states to live in are:

1. Massachusetts
2. Florida
3. New Jersey
4. Utah
5. New Hampshire
6. Idaho
7. Pennsylvania
8. Wisconsin
9. New York
10. Wyoming

What to consider before moving to a new state

When considering moving to a new state, experts recommend considering factors that affect your lifestyle in addition to financial concerns like the cost of living and the job market.

"Choosing a place to live is a highly personal decision," Randal Ice, the Barnabas professor of finance emeritus at the University of Central Oklahoma said in a statement. "First, an analysis of the pros and cons of any location should be determined, then a visit to the location would be a very good idea."

Moving to a new location just for a job offer can leave those who relocate unfulfilled if they're not also considering their personal and family needs, according to Vaneesha Dutra. She is a finance professor at Howard University.

"Identifying whether an area has suitable community support organizations, such as a church, and whether a community provides adequate personal services can be critical to one's sense of belonging," Dutra said in a statement. "This can be especially important for people of color."