In a study that ranked all 50 U.S. states across 51 metrics, New Jersey placed third and New York ninth. Massachusetts took first place and Idaho second. New Jersey ranked No. 1 nationwide in safety, while New York ranked No. 1 in quality of life. On cost-of-living burden, however, the two states sat near the bottom, with New Jersey at 48th and New York at 47th.
Anyone of Korean descent living in New York or New Jersey has probably run this calculation at least once: after taxes and rent, there's nothing left, so is living here really worth it? A new study has answered that question with numbers.
In WalletHub's "Best States to Live In" ranking, which compared all 50 U.S. states across 51 metrics, New Jersey came in third and New York ninth. Massachusetts ranked first and Idaho second. New Jersey and New York both landed in the top 10.
Top 10 States
The category-by-category results stand out. New Jersey ranked first in the nation in safety, a category that combines crime rates and accident indicators, making it the safest of the 50 states. It also placed high in education and health (6th) and quality of life (7th).
New York ranked first in the nation in quality of life, a category that reflects factors such as cultural and recreational amenities, public transportation and diversity. It also scored high in safety (7th) and ranked 15th in education and health.
But on Money Matters, Both States Sit at the Bottom
On cost-of-living burden, New Jersey ranked 48th and New York 47th, near the very bottom among the 50 states. Property taxes, rent and prices are all among the highest in the nation. In the end, this year's ranking says that these states are expensive, but safe and livable. The growing number of Korean American families leaving New York and New Jersey for South Carolina or Texas is often explained the same way: everything else is fine, but the numbers just don't add up.
At the other end of the list were New Mexico (50th), Louisiana (49th), Arkansas (48th), Mississippi (47th) and Alaska (46th). The study was based on data as of mid-July.
A ranking is only a ranking, but for Korean American families who put their children's schools and public safety first, New Jersey's No. 1 rank in safety and 6th in education and health are not numbers to brush aside. They also suggest that Bergen County communities with large Korean American populations, such as Palisades Park and Fort Lee, are delivering value for their high prices.