⚫ A new report ranks the 50 states based on 51 factors

⚫ A northeastern state takes first place

⚫ NJ performs better than Pennsylvania and New York

To determine the best places to live, dozens of measures were analyzed.

Private financial website WalletHub has released its list of the best states to live in for 2024, and New Jersey ranks extremely well.

WalletHub timed its release to coincide with the most popular time of year for moving: summer. If you’re not tied to a specific state or region of the country, you have 50 options.

“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 adequate access to activities you enjoy.”

And if you have children, says Happe, a robust education system is also crucial.

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The key indicators – there are 51 in total – all fall into four broad categories: affordability, economy, quality of life and education/health.

Best States to Live in: 2024

Massachusetts ranks first on the list, largely due to its high-quality education and strong healthcare system.

Florida has one of the lowest unemployment rates and is the second best state to live in, according to the analysis.

The Garden States ranks 3rd and receives praise from WalletHub on a number of criteria.

New Jersey has the sixth-lowest violent crime rate and the ninth-lowest property crime rate, partly because the state has the highest number of police officers per capita.

“When it comes to health, New Jersey residents have the fourth-lowest premature death rate in the country, the sixth-lowest obesity rate and the 10th-best life expectancy,” the analysis said. “In particular, one reason for the low obesity rate is the fact that the state has the sixth-most miles of hiking trails and the fifth-most fitness centers per capita, giving people plenty of opportunities to stay active.”

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The analysis also shows that New Jersey residents have the second lowest average debt and that New Jersey has the eighth lowest food insecurity rate.

Louisiana ranked last in WalletHub’s analysis, followed by New Mexico, Arkansas, Alaska and Nevada.

Pennsylvania is No. 7 on the list. New York is No. 9.

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