10 Best (and Worst) States To Live In:
Best States To Live In:
3. New Hampshire
4. New Jersey
Massachusetts, home to one of the nation’s wealthiest and most highly educated populations, leads the nation.
Thomas C. Frohlich and Michael B. Sauter
24/7 Wall St.
Life satisfaction in a given state is often based on highly subjective measures — whether the climate is nice, whether friends and family are present, and other factors. While a connection to a place can often be based on intangibles, a good quality of life in a given state is largely predicated upon a few key factors.
The levels of poverty, education, and health can largely capture living conditions in a state, which tend to vary considerably across the country.
24/7 Wall St. reviewed statewide social and economic measures to rank each state’s living conditions. Massachusetts, home to one of the nation’s wealthiest and most highly educated populations, leads the nation.
Mississippi, the poorest state in the country, trails the other 49 states.
As in many of the other best states to live in, Massachusetts residents are quite wealthy. A typical household earns $69,160 each year, the sixth highest annual median household income in the nation.
Similarly, the state’s poverty rate of 11.6% is one of the lowest in the nation. As in most states with low poverty rates and high incomes, the average Massachusetts resident will enjoy a relatively long life. The life expectancy at birth in Massachusetts is 80.5 years, versus the national life expectancy of 79 years.
Massachusetts’ nation-leading college attainment rate of 41.2% — it is the only state where more than two in five adults have a bachelor’s degree — is a major driver of the state’s strong economy and high quality of life.
Students in the state also score well above average on standardized tests. In states with the best living conditions, demand for housing is often very high, which tends to drive up home values. A typical home in Massachusetts is valued at $338,900, well above the national median home value of $181,200.
(Massachusetts isn't even in the top ten highest in taxes states)
A comparison of 2015 tax rates compiled by the Federation of Tax Administrators ranks California as the top taxer with a 12.3 percent rate, unless you make more than $1 million and have to pay 13.3 percent.
Each of these states has a personal income tax floor, deductions, exemptions, credits and varying definitions of taxable income that determine what a citizen actually pays.
The 10 highest income tax states on the FTA's 2012 list were:
New Jersey 8.97%
District of Columbia 8.95%
New York 8.82%