Debt, unemployment, the housing market. Millennials have faced several concerns over the years, entering the work force after the 2008 recession, living and working through a tough economy, and now surviving a pandemic. However, millennials in some states seem to have fared better than their counterparts across the country.
A new study by WalletHub compared each state (and Washington, DC) to determine which are the best and worst for millennials.
Number 47
Louisiana ranked among the worst states in the country for millennials. With one of the highest generational unemployment rates and the percentage of millennials with depression, the list highlights some of the difficulties Gen Y faces in the Pelican State. Only three states were named worse for the generation: Nevada, Mississippi, New Mexico, and West Virginia.
Here are the top 10 states (and one city) named the best for millennials:
- Washington
- Washington, DC
- Utah
- Massachusetts
- Iowa
- Minnesota
- Colorado
- North Dakota
- Wisconsin
- Pennsylvania
To determine the list, WalletHub compared each state and Washington, DC, using five factors: affordability, education and health, quality of life, economic health, and civil engagement. From there, they evaluated each factor using 34 relevant metrics, including cost of living, average price for Starbucks latte, millennial homeownership rate, share of insured millennials, share of millennials with no doctor's visit in the past year due to cost, singles-friendliness, median student-loan debt, millennial voter turnout rate, and more.
Check out the full list here.
Photo: Getty Images