When you think of the perfect state to live in, which one do you think of?
Money Rates compiled a list of the best states to live in 2023. The website states, "MoneyRates.com used a proprietary formula to weigh the six factors listed above and produce a rank for all 50 states in terms of conditions for making a living." The six factors taken into consideration were cost of living, median annual wage, state income tax, unemployment rate, increase in unemployment since the COVID-19 lockdowns began, and workplace safety.
According to the report, Texas is one of the best states to live in 2023. The Lone Star State came in at number five on the list. The website explains:
"Though it dropped a couple of slots after two consecutive third-place finishes, Texas remains a strong place to make a living based on a few factors: No state income tax, more affordable than most states, and workplace safety is better than in most states."
Here are the top 10 states to live in 2023:
- Washington
- North Dakota
- Minnesota
- Michigan
- Texas
- Illinois
- Kansas
- Tennessee
- Colorado
- Oklahoma
Check out the full list of the best states to live in 2023 on Money Rates' website.