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While New Jerseyans may have their share of criticism of the state, no one is more proud of the Garden State than those who call it home. And now we have official proof that we’re among the best of the best: New Jersey has been ranked the third best state to live in for 2024.
This is according to an annual report from WalletHub, which compared all 50 U.S. states based on several factors in five key categories, including affordability, economy, education and health, quality of life and safety.
With an overall score of 59.65, New Jersey ranks just behind Massachusetts (60.52) in first place and Florida (59.82) in second place. The Garden State has remained relatively high on the list of the country’s most livable states, ranking as the second-best state in 2023 by WalletHub.
“When deciding where to move, you should first consider financial factors such as cost of living, housing prices and job opportunities,” said Cassandra Happe, an analyst at WalletHub. “However, many states have strong economies, so you should also consider a variety of other factors, such as how where you live will affect your health and safety and whether you have ample access to activities you enjoy. If you have children, a robust education system is also critical.”
Why New Jersey is the third best state to live in 2024
Of the five main categories used in the report, New Jersey received the highest rating in safety—first place overall. The report cited the Garden State as having the sixth-lowest violent crime rate and ninth-lowest property crime rate in the country. This is because the state has the highest number of law enforcement officers per capita, according to WalletHub.
In the education and health and quality of life categories, New Jersey ranked ninth and 11th, respectively. These rankings are due to the state having the fourth-lowest premature death rate in the country, the sixth-lowest obesity rate and the 10th-best overall life expectancy. According to the report, New Jersey also has the sixth-most miles of hiking trails and the fifth-most fitness centers per capita.
The state also ranked 25th in economic health. The report states that New Jersey has the highest median income in the country at over $96,000. According to WalletHub, residents also have the second-lowest median debt, which is about 31% of their annual income.
“The Garden State has also done a good job of combating poverty, having the fifth-lowest share of the population below the poverty line and the eighth-lowest rate of food insecurity,” the report said.
However, New Jersey is notoriously considered one of the most expensive states in the US, with the cost of living being about 11% higher than the national average. WalletHub therefore ranked the state 48th in the affordability category.
The typical value of a home in New Jersey was $537,916 in July, according to the Zillow Home Value Index. With a total of 21 cities with million-dollar starter homes, New Jersey also ranked third for the most cities with starter homes of that value — up from 15 in 2023 and 2 in 2019.
How the other 50 US states fare
Here is WalletHub’s full ranking of the most livable states for 2024:
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things North Jersey living. You can find her on Instagram @maddiemcgay, To X @maddiemcgayyand sign up for their Living in North Jersey Newsletter. Do you have a tip, trend or great house she should know about? Email her at MMcGay@gannett.
