This U.S. State Is the Best Place to Live, According to WalletHub

From the lush mountain vistas of the Berkshires to the sandy dunes of Cape Cod and so many historic small towns , Massachusetts is a vacationer's dream. But the Bay State also has plenty to offer those looking to relocate here full-time, as WalletHub ranked it the top state to live in. The company analyzed 51 factors, such as income growth and education across all 50 states, and ranked Massachusetts first with an overall score of 60.52 out of 100.

The Commonwealth performed best in the education and healthcare category, ranking first. WalletHub also found that Massachusetts has the highest share of residents with health insurance coverage — 97.3 percent, and the lowest premature death rate in the country. It was sixth for quality of life and seventh for safety, with the third-lowest property crime rate in the U.S. According to WalletHub's analysis, the Bay State's economy is the 15th best.

"It has the fourth-best high school graduation rate in the country, too, at over 90 percent. Good-quality education has helped the state's residents succeed financially, with the third-highest median household income, at over $94,000," WalletHub pointed out, also highlighting the state's excellent public transportation system.

Recently, Boston was named the best college city by Niche.com thanks to its quaint colleges and the abundance of recreational activities and recreation it offers.

However, Massachusetts is among the most expensive states, ranking 44th for affordability. Earlier this year, a real estate report found that it has the second-highest cost of living and the third-highest housing prices after Hawaii and California. In Boston, the median home value is $748,710, according to Zillow. Massachusetts is also among the top ten most expensive states for food.

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

Florida and New Jersey were second and third in WalletHub's list of the best states to live in, with the company highlighting the Sunshine State's low unemployment rate and the Garden State's high median household income, which is the highest in the nation. However, neither makes it to the top states for affordability. If that's your priority, consider Alabama, West Virginia, or Utah. You'll find the lowest housing costs in Iowa, South Dakota, and North Dakota.