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With inflation cooling but still making raising children more costly than usual, the personal-finance website WalletHub today released its report on 2024's Best and Worst States to Raise a Family.
To determine the best states in which to put down family roots, WalletHub compared the 50 states across 50 key indicators of family-friendliness. The data set ranges from the median annual family income to housing affordability to the unemployment rate.
Raising a Family in New Hampshire (1=Best; 25=Avg.):
Best States to Raise a Family in 2024
The cost of raising a family has grown a lot in the past few years due to high inflation, and even though inflation has significantly cooled, it's still higher than normal. On top of affordability concerns, parents have to worry about their children's safety, education, healthcare and more, and some states address those factors better than others. Massachusetts is the best state to raise a family, according to a new report by the personal-finance website WalletHub, which analyzed 50 key indicators across five dimensions: family fun, health and safety, education and child care, affordability, and socio-economics. North Dakota, Minnesota, Nebraska, New York and Maine made up the rest of the top five states.
"Massachusetts ranks first in large part because it has one of the lowest unemployment rates in the country and lots of job opportunities relative to the labor force. Residents also have high enough incomes to make up for the expensive cost of living," said Cassandra Happe, WalletHub Analyst. "The Bay State is renowned for its education quality and ranks at the top when it comes to school systems. Plus, Massachusetts is better for children's health than most states, with the best water quality in the country and a low infant mortality rate."
Best and Worst States for Families
Tips for Finding the Best State to Raise Your Family
Full report: https://wallethub.com/edu/best-states-to-raise-a-family/31065
Raising a Family in New Hampshire (1=Best; 25=Avg.):
- Overall rank - 7th
- 17th - Child-Care Costs (Adjusted for Median Family Income)
- 9th - Infant-Mortality Rate
- 10th - Median Annual Family Income (Adjusted for Cost of Living)
- 2nd - Violent Crimes per Capita
- 1st - % of Families in Poverty
- 24th - Housing Affordability
- 1st - Unemployment Rate
- 24th - Separation & Divorce Rate
Best States to Raise a Family in 2024
The cost of raising a family has grown a lot in the past few years due to high inflation, and even though inflation has significantly cooled, it's still higher than normal. On top of affordability concerns, parents have to worry about their children's safety, education, healthcare and more, and some states address those factors better than others. Massachusetts is the best state to raise a family, according to a new report by the personal-finance website WalletHub, which analyzed 50 key indicators across five dimensions: family fun, health and safety, education and child care, affordability, and socio-economics. North Dakota, Minnesota, Nebraska, New York and Maine made up the rest of the top five states.
"Massachusetts ranks first in large part because it has one of the lowest unemployment rates in the country and lots of job opportunities relative to the labor force. Residents also have high enough incomes to make up for the expensive cost of living," said Cassandra Happe, WalletHub Analyst. "The Bay State is renowned for its education quality and ranks at the top when it comes to school systems. Plus, Massachusetts is better for children's health than most states, with the best water quality in the country and a low infant mortality rate."
Best and Worst States for Families
| Best States | Worst States |
| 1. Massachusetts | 41. Arizona |
| 2. North Dakota | 42. South Carolina |
| 3. Minnesota | 43. Oklahoma |
| 4. Nebraska | 44. Nevada |
| 5. New York | 45. Louisiana |
| 6. Maine | 46. Arkansas |
| 7. New Hampshire | 47. Alabama |
| 8. South Dakota | 48. West Virginia |
| 9. Rhode Island | 49. Mississippi |
| 10. Vermont | 50. New Mexico |
Tips for Finding the Best State to Raise Your Family
- Visit prospective states: If possible, visit the states you are considering. Spend time in different cities and neighborhoods to get a feel for the community, amenities, and overall lifestyle. This firsthand experience can help you make a more informed decision about the best fit for your family.
- Focus on the essentials first: Since there are so many different factors to consider, focus on the ones that are of the biggest immediate importance. For example, make sure you move somewhere you can get a decent job, with quality pediatric care and good early education. As your children grow, you can always move locations to somewhere that fits their changing needs.
- Live somewhere good for children's recreation: If all of your main needs are met, consider things like the prevalence of attractions, playgrounds, parks and other places where you can make memories with your children.
- Talk to parents: The best way to find out what it's like to raise a family in a certain area is to talk to parents who already live there. They may even be able to help you narrow down your search to a certain city, not just a state.
- Look at data: Word of mouth isn't enough to make a final choice on where to move, and you might not be able to spend a lot of time in every place you're considering. But it's very easy to find data online about things like unemployment rates, job opportunities, crime rates, and school ratings. Factoring that information into your decision-making process will help you narrow things down to the right place for you. WalletHub's rankings are based on official data, so they can give you a good starting point for states to examine more closely based on your own preferences.
Full report: https://wallethub.com/edu/best-states-to-raise-a-family/31065
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