the staff of the Ridgewood blog
Ridgewood NJ, With millennials today making up the largest generation in the U.S. workforce yet earning 20 percent less than Baby Boomers did at the same age, the personal-finance website WalletHub conducted an in-depth analysis of 2017’s Best & Worst States for Millennials.
Overall Rank 40
State New Jersey
Total Score 40.72
‘Affordability’ Rank 45
‘Education & Health’ Rank 23
‘Quality of Life’ Rank 39
‘Economic Health’ Rank 29
In order to determine the most livable places for this generation, WalletHub’s analysts compared the 50 states and the District of Columbia across 24 key metrics. The data set ranges from share of millennials to average monthly earnings for millennials to millennial unemployment rate.
|Best States for Millennials||Worst States for Millennials|
|5||District of Columbia||46||Arkansas|
Best vs. Worst
North Dakota has the lowest share of millennials living with their parents, 15.57 percent, which is 2.9 times lower than in New Jersey, registering the highest at 44.95 percent.
Minnesota has the highest millennial homeownership rate, 49.72 percent, which is 2.1 times higher than in the District of Columbia, registering the lowest at 23.48 percent.
The District of Columbia has the highest share of millennials, 35.17 percent, which is 1.8 times higher than in Maine, registering the lowest at 19.91 percent.
Vermont has the lowest share of millennials in fair or poor health, 5.2 percent, which is 2.7 times lower than in Nevada, registering the highest at 14.2 percent.
The District of Columbia has the highest average monthly earnings for millennials, $5,119, which is 2.1 times higher than in Idaho, registering the lowest at $2,478.
North Dakota has the lowest millennial unemployment rate, 3.94 percent, which is 4.1 times lower than in Mississippi, registering the highest at 16.13 percent.