2022’s Best & Worst States for Millennials – WalletHub Study

With millennials today making up the largest generation in the U.S. workforce and being responsible for 21% of all consumer discretionary spending, the personal-finance website WalletHub today released its report on 2022’s Best & Worst States for Millennials, as well as accompanying videos and expert commentary.

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.

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

Best vs. Worst

  • The District of Columbia has the highest share of millennials, 32.16 percent, which is 1.8 times higher than in Vermont, the lowest at 17.69 percent.
  • North Dakota has the lowest share of millennials living with their parents, 14.80 percent, which is 3.1 times lower than in New Jersey, the highest at 45.21 percent.
  • Utah has the highest millennial homeownership rate, 70.85 percent, which is 1.9 times higher than in the District of Columbia, the lowest at 37.41 percent.
  • The District of Columbia has the highest average monthly earnings for millennials, $8,790, which is 2.7 times higher than in Mississippi, the lowest at $3,298.
  • North Dakota has the lowest millennial unemployment rate, 2.53 percent, which is 3.1 times lower than in Mississippi, the highest at 7.77 percent.

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