Report Ranks Minnesota 3rd Best State for Millennials

Report Ranks Minnesota 3rd Best State for Millennials Photo: KSTP/File

April 19, 2018 02:43 PM

 A report finds that Minnesota is a great place for millennials, in fact, its the third best state in the nation.

According to WalletHub, a personal finance website, millennials are the largest generation that make up the U.S. workforce although they do make less than Baby Boomers did at the same age.

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The research that determined rankings is based off off of 30 key metrics such as the millennial unemployment rate to average monthly earnings for a millennial.

RELATED: Report Ranks Minnesota as Least Stressed State in the Nation

The District of Columbia was recognized as the best state for millennials due to its high ranking in education and health, quality of life and civic engagement. North Dakota was No. 2. 

Top Five States for Millennials:

  1. District of Columbia
  2. North Dakota
  3. Minnesota
  4. Massachusets
  5. Iowa

The worst five states for millennials were Alabama, Nevada, Mississippi, West Virginia, and New Mexico falling last in the rankings.

RELATED: Don't Worry, We're Happy! Report Names Minnesota Happiest State in Country

Living & Working as a Millennial in Minnesota (1=Best; 25=Avg.):

  • 13th – % of Millennials Living with Parents
  • 25th – Housing Cost for Millennials
  • 28th – % of Millennials
  • 14th – Average Monthly Earnings for Millennials
  • 1st – Millennial Homeownership Rate
  • 6th – Millennial Unemployment Rate
  • 5th – % of Insured Millennials
  • 30th – % of Millennials with Depression

Source: WalletHub

Credits

Alan Galarza Pliego

Copyright 2018 - KSTP-TV, LLC A Hubbard Broadcasting Company

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