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Wallet Hub study shows 2021’s Best & Worst States for Millennials

With millennials today making up the largest generation in the U.S. workforce yet struggling due to the COVID-19 pandemic, the personal-finance website WalletHub today released its report on 2021’s Best & Worst States for Millennials, as well as accompanying videos.

In order to determine the most livable places for this generation, WalletHub compared the 50 states and the District of Columbia across 34 key metrics. The data set ranges from share of millennials to average monthly earnings for millennials to millennial unemployment rate.

South Dakota ranked 17th overall. The state scored highest – 10th – for affordability. It scored lowest – 31 – for education and health.

Best States for Millennials Worst States for Millennials
1. Washington 42. Rhode Island
2. District of Columbia 43. South Carolina
3. Utah 44. Alabama
4. Massachusetts 45. Kentucky
5. Iowa 46. Arkansas
6. Minnesota 47. Louisiana
7. Colorado 48. Nevada
8. North Dakota 49. Mississippi
9. Wisconsin 50. New Mexico
10. Pennsylvania 51. West Virginia

Best vs. Worst

  • The District of Columbia has the highest share of millennials, 31.91 percent, which is 1.8 times higher than in Vermont, the lowest at 17.44 percent.
  • North Dakota has the lowest share of millennials living with their parents, 14.13 percent, which is 3.3 times lower than in New Jersey, the highest at 45.99 percent.
  • Iowa has the highest millennial homeownership rate, 71.85 percent, which is 2.1 times higher than in the District of Columbia, the lowest at 34.83 percent.
  • The District of Columbia has the highest average monthly earnings for millennials, $7,496, which is 2.3 times higher than in Mississippi, the lowest at $3,291.
  • North Dakota has the lowest millennial unemployment rate, 2.40 percent, which is 3.3 times lower than in Mississippi, the highest at 8.03 percent.

To view the full report and your state or the District’s rank, please visit:
https://wallethub.com/edu/best-states-for-millennials/33371

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