In this article, we will take a look at the 15 best states to live in: 2024 rankings. If you would like to skip our discussion on the US economy, you can go to the 5 Best States To Live In: 2024 Rankings.
With a population of around 334 million, the United States offers an outstanding quality of life and excels in various dimensions of this metric, according to the OECD. The country has above-average scores in income, employment, education, social connections, life satisfaction, and environmental quality. In terms of the economy, the US performed well in 2023, achieving a GDP growth rate of 2.5%, surpassing other G7 nations. This performance can be attributed to the strong structural fundamentals and effective policy responses by the USA. However, economic growth is anticipated to slow down in 2024 due to the impact of monetary policy. Meanwhile, inflation, a major concern in 2023, is expected to decrease to 2.4% in 2024, though still exceeding the Federal Reserve's target. The average household disposable income per capita and the average household net wealth in the US stand at $51,147 annually and $684,500 per year, respectively. This is much higher than the OECD average.
In 2023, the United States maintained a low unemployment rate, reaching an unprecedented low of 3.7% in December 2023. This indicates a tight labor market characterized by strong job creation. However, projections for 2024 suggest a cooling off of the labor market. The country's labor participation rate, standing at 67%, signifies the percentage of the working-age population either employed or actively seeking employment. The rate is higher than the OECD average of 66%. The US also has a robust education system. There is easy access to education, which can be judged by the fact that 92% of adults aged 25-64 have completed upper secondary education. Along with this, the country is home to some of the most esteemed educational institutions in the world, such as Harvard University and Massachusetts Institute of Technology.
While the nation has undeniable strengths, the multifaceted nature of quality of life reveals certain disparities and challenges. Disparities also exist among states for various metrics; for instance, the cheapest states to live in may not necessarily be the best states for starting a family due to lower rankings in education and health facilities. In terms of health, the United States, while having a higher life expectancy than some other countries, has experienced stagnation in this metric over the years, as reported by the Centers for Disease Control. Despite the presence of healthcare facilities, millions of Americans remain without health insurance, even with the implementation of the Affordable Care Act (ACA). Ongoing efforts to expand access or introduce a single-payer system face political resistance. Additionally, medical expenses pose a significant burden for many Americans, with high insurance premiums, deductibles, and out-of-pocket costs creating financial strain and limiting access to quality care. Healthcare companies such as Pfizer Inc. (NYSE:PFE), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV) are now working towards creating more affordable solutions for US citizens.
With this context in mind, let’s take a look at our list of the best states to live in 2024.
15 Best States To Live In: 2024 Rankings
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Our Methodology
To shortlist the 15 best states to live in for 2024, we conducted a comprehensive evaluation using multiple criteria, including education, economy, infrastructure, financial stability, safety, healthcare, and natural environment. We gathered data from reputable sources such as Forbes, US News, and CNBC. Each state received a rating on a scale of 1 to 10 for each of the seven metrics. These ratings were then multiplied by assigned weights, reflecting the importance of each factor, to calculate weighted average scores. The weights assigned to each metric were as follows: Economy, Education, and Safety at 15%, Financial Stability, Infrastructure, and Health Care at 14%, and Natural Environment at 13%. The states were subsequently ranked in descending order of their total scores. The closer the score is to 1, the better is the state to live in.
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15 Best States To Live In: 2024 Rankings
15. North Dakota
Total Score: 21.47
North Dakota is suitable for those who are looking for an affordable lifestyle. This is because the state has a cost of living index, which is 15% less than the national average. Moreover, friendly faces and a strong sense of community are hallmarks of North Dakota, with their motto "North Dakota Nice" reflecting the state’s welcoming atmosphere. The state’s crime rate stands at 2.6 incidents per thousand individuals, well below the national average of 4.0 incidents per thousand people. Outdoor enthusiasts will also love North Dakota's parks and natural beauty.
14. Colorado
Total Score: 19.84
Colorado is great for outdoor enthusiasts with its majestic Rocky Mountains. One can hike, ski, bike, or fish throughout the year and marvel at the breathtaking scenery. The state's strong economy translates to a flourishing job market. Colorado also has a flat income tax rate and lower property taxes compared to many states, making it financially attractive. Furthermore, with mild winters and sufficient sunshine, the climate is a major attraction for many.
13. Virginia
Total Score: 18.93
Virginia attracts people with its diverse landscapes. One can hike in the Blue Ridge Mountains or relax on the Atlantic beaches. Also, being among the original 13 British colonies, the state has a rich history, with Colonial Williamsburg and Jamestown waiting to be explored. The state's economy is thriving, particularly in Northern Virginia, where there are abundant job opportunities in the tech and government sectors. Top-ranked public schools and prestigious universities like the University of Virginia further add to the state's appeal.
12. Massachusetts
Total Score: 18.59
It should come as no surprise that Massachusetts is a popular place for individuals to live, given its excellent rankings in both education and healthcare, as per various reports. Renowned schools and institutions such as Harvard, MIT, and Boston College are part of the state's strong educational network. Moreover, 96% of the state’s residents are insured. Massachusetts is also a safe area to call home because of its low crime rate compared to the nation. With unemployment down by 0.5% year-on-year in January 2024 and a gain of 18,300 jobs in the same month, Massachusetts is among the best states to relocate to in terms of career advancement. Worker Protection and Reproductive Rights are also quite strong in the state.
11. New Hampshire
Total Score: 18.16
New Hampshire, also known as the "live free or die state," is one of the best places to live in the US for a number of reasons. It has the country's second-lowest violent crime rate, which includes major crimes such as homicide, robbery, and aggravated assault. There is no personal income or general sales tax in the state. In addition, the Granite State is currently experiencing strong economic growth, with a considerably low unemployment rate of 2%. New Hampshire also has the lowest poverty rate amongst all the states at 7.2% as of 2022. The median household income in the state stands at $90,000, compared to the national average of $70,000. Furthermore, New Hampshire has many outdoor recreation options, including hiking, skiing, and boating.
10. South Dakota
Total Score:17.47
South Dakota tempts budget-conscious individuals with its affordability. The state's lower housing costs and sales tax, compared to the national average, make it easier to make the most of one's budget. Additionally, South Dakota offers top-notch colleges and universities like the University of South Dakota, South Dakota State University, and Dakota Wesleyan University. Safety is a significant advantage, as crime rates consistently fall well below the national average, providing a sense of security. Nature enthusiasts will be delighted by South Dakota's breathtaking landscapes, offering opportunities for hiking, camping, and various outdoor adventures. South Dakota is in the top 10 best states to live in 2024.
9. Vermont
Total Score: 17.38
Vermont is a picturesque state with mountains, forests, and rural landscapes, perfect for hiking, skiing, and camping. According to the American Lung Association, Vermont has the highest air quality in the country. Moreover, the state has invested a significant amount of money to provide accessible childcare. It's considered a safe state to live in, with a low crime rate. Furthermore, Vermont residents have significant safeguards against discrimination, and it is one of the easiest states to vote in. The state also fosters a strong sense of community and has a close-knit atmosphere, with residents actively participating in local events and organizations. Vermont is at the ninth place on our list of the best states to live in: 2024 rankings.
8. Minnesota
Total Score: 16.96
Some of America's most beautiful landmarks can be found in Minnesota. From vibrant nightlife to expansive wilderness, the state caters to various interests. The state has more than 10,000 lakes and natural reservoirs. Minnesota's national borders are shared by Lake Superior and the stunning Lake Itasca. The state has a strong economy and provides easy access to both work and recreational activities. With only about 9% of the population living at or below the poverty line, the state maintains a lower poverty rate than the national average. The state increased voting rights and codified reproductive rights in 2023.
7. Wisconsin
Total Score: 15.11
Wisconsin gives its citizens a distinctive combination of scenic beauty, classic Midwestern charm, and a good standard of living. The Wisconsin Dells, the world's greatest concentration of water parks in one location, is located in the Badger State. The state has earned an excellent reputation in education, with schools achieving higher high school graduation rates than the national average. Over 90% of students graduate in Wisconsin, compared to the 85% national average. Safety is a priority, as reflected in the state's low crime rate, providing residents with a secure living environment. Furthermore, Wisconsin has a 2% cheaper cost of living than the US average. Wisconsin's average house price is $279,390, significantly less than the $417,700 national average. Meanwhile, the state's poverty rate is at or below 11.2% of its total population, which is less than the 12.8% national average.
6. Florida
Total Score: 14.49
Florida is famous for its warm weather and vibrant tourist attractions. It has a strong economy with an annual GDP of over $1.44 trillion as of 2022. Many popular companies like Pfizer Inc. (NYSE:PFE), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV) also provide services for residents of the state. Florida has a generally lower cost of living than the national average. Furthermore, the state's education system is among the best in the country, with various top-ranking universities, including the University of Florida, Florida State University, the University of Central Florida, the University of South Florida, and the University of Miami. Moreover, the average debt at the time of graduation in Florida is $24,454, less than the national average of $29,300. The high school graduation rate for Florida stands at 90.2%, which is higher than the national average.
