How easy it is to make a good living might depend on where you live, and a new ranking from MoneyRates.com reveals which states are the easiest--and toughest--for making a living. Fortunately, Massachusetts has ended up tops among New England states for 2013. " />

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slides: New England’s Best States To Make a Living

Friday, April 05, 2013

 

How easy it is to make a good living might depend on where you live, and a new ranking from MoneyRates.com reveals which states are the easiest--and toughest--for making a living. Fortunately, Massachusetts has ended up tops among New England states for 2013, ranking #13 overall.

New England's lowest-ranking state, Rhode Island, scored #3 on the 10 Worst States to Make a Living, outdone by only Mississippi (#2 worst) and Hawaii (#1 worst for 3 years in a row). 

Compiling the ranking

Using average wage and unemployment data from the Bureau of Labor Statistics, cost of living figures from C2ER (formerly ACCRA) and state tax information from Tax-Rates.org, MoneyRates.com calculated an average income figure for each state that included adjustments for taxes, inflation and the chances of finding a job in that state. Finally, those figures were furthered adjusted according to each state's Workplace Environment rankings from the Gallup-Healthways Well-Being Index poll.

The Best 10

None of the 10 Best States to Make a Living in 2013 were in New England. Washington led the pack this year at #1, followed by Virginia at #2, Colorado at #3, Texas at #4, and Wyoming at #5. Rounding out the Top 10 were Minnesota (#6), Nebraska, (#7), Utah (#8), Kansas (#9), and Oklahoma (#10).

To see more about the Best and Worst, as well as how all of New England's states did, see below.

Sources: Unemployment rates for February, 2013 from Bureau of Labor Statistics, Median household income 2011 from US Census; Average income tax rates from www.tax-rates.org, Work environment rank from Gallup Well-Being Index 2012.

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#6 Rhode Island

National rank: 48

Unemployment rate: 9.4%

Median household income: $53,636

Avg. income tax rate: 4.83%

Work environment rank: 50

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#5 Vermont

National rank: 43

Unemployment rate: 4.4%

Median household income: $52,776

Avg. income tax rate: 7.18%

Work environment rank: 27

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#4 Maine

National rank: 40

Unemployment rate: 7.3%

Median household income: $46,033

Avg. income tax rate: 5.5%

Work environment rank: 7

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#3 Connecticut

National rank: 37

Unemployment rate: 8.0%

Median household income: $65,753

Avg. income tax rate: 4.83%

Work environment rank: 29

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#2 New Hampshire

National rank: 36

Unemployment rate: 5.8%

Median household income: $62,647

Avg. income tax rate: 5%

Work environment rank: 20

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#1 Massachusetts

National rank: 13

Unemployment rate: 6.5%

Median household income: $62,859

Avg. income tax rate: 5.3%

Work environment rank: 22

 
 

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Comments:

C Norris

What Texas #4? isn't that the same state everyone bashes for being too republican? The state Dems bash and call "red necks" has the 4th best ways to make a living? Hmmm must be all those Dems in texas making such a great place... ohh wait. Its run by republicans with some of the lowest tax rates in the country. Odd how they can do it but here in MA we need another $1 billion tax increase




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