WalletHub study: Florida is the second-best state to live in

When it comes to the best states to live in throughout America, Florida is near the top.

WalletHub, a personal finance management resource, published its list of best states to live in and placed Florida No. 2 behind only Massachusetts. Florida was followed by New Jersey at third, and Utah and New Hampshire at fourth and fifth, respectively. Florida was the only Sun Belt state in the Top 10.

Northeast U.S. states dominated the list, with four states from that region in the Top 10.

“When deciding on a place to move, you should first consider financial factors like the cost of living, housing prices and job availability,” said WalletHub analyst Cassandra Happe.

“Many states have strong economies, though, so you should also consider a wide variety of other factors, such as how where you live will impact your health and safety, and whether you will have adequate access to activities that you enjoy. If you have children, a robust education system is also key.”

WalletHub compared factors such as housing costs, quality of life, medical care systems, safety, income growth and education among 51 key indicators to determine its list of best states to live in.

Florida was also the state with the largest population in the Top 10, with more than 22 million people residing in the Sunshine State. The large population generates more business, and that generates more jobs, making Florida an attractive place to move to, according to WalletHub.

“Boasting one of the lowest unemployment rates in the country, at just (3.3% as of June), along with the sixth-most job opportunities per capita, (Florida) also has the seventh-lowest tax rates and the sixth-highest median household income growth, making it a great place to build and grow wealth,” WalletHub concluded.

Florida’s abundance of coastline on both the Gulf of Mexico and the Atlantic Ocean offers many recreational outlets along beaches. Additional opportunities in the interior of the state also make it attractive for residents.

“The Sunshine State offers a multitude of ways to spend your leisure time, with an especially large number of restaurants, beaches, fitness centers, and theaters per capita,” the WalletHub analysis found.

While there is plenty of coverage of crime within Florida — with areas of the state noted for troublesome crime rates, such as South Florida and North Florida — WalletHub found Florida was relatively safe compared to other states.

“To top things off, Florida is a pretty safe state. It has the ninth-most law enforcement employees per capita, which has contributed to the 13th-lowest violent crime rate and the 15th-lowest property crime rate,” the WalletHub comparison said.

Louisiana was ranked 50th, at the bottom of the list. New Mexico was just above that at 49th, with Arkansas at 48th and Alaska at 47th. Nevada rounded out the bottom 5, at No. 46.

In some individual breakout factors, Florida wasn’t ranked very high. In terms of housing costs, Florida was ranked 46th on the list. California was the least affordable in that factor, at 50th.

Florida was also knocked for its portion of residents who do not have insurance. Florida was ranked 47th among states in measuring the percentage of its population that is uninsured.

On the flip side, in terms of quality-of-life factors, Florida ranked among the top for restaurants per capita of residents. Florida was tied for first with California, New York and Texas.