Connecticut ranked 13th least affordable state for millennials
Connecticut was ranked the 25th best — and 13th least affordable — state for people in their late-teens to early-30s by personal finance website WalletHub.
For its ranking of 2017's Best & Worst States for Millennials, WalletHub examined and compared all 50 states and Washington, D.C., across 24 key metrics, including affordability, education and health, quality of life, economic health, and civic engagement.
With about 90% of its millennials having least a high school diploma approximately 85% with health insurance coverage, Connecticut ranked 15th best in terms of education and health.
WalletHub found that only 9.44% of Connecticut millennials are in poor or fair health, nearly 19% have been diagnosed with depression, 18.73% reported no physical activity in the past month, and 15.36% had no doctor visits in the past year due to cost.
With a millennial voter turnout rate of about 47% and volunteer rate of about 25%, WalletHub determined that Connecticut has the 23rd highest millennial civic engagement rate in the nation.
In addition to being the 13th least affordable state, WalletHub ranked Connecticut the 25th worst state for millennials when it comes to economic health and the 16th worst when it comes to quality of life.
Millennials make up nearly 22% of Connecticut's population, according to WalletHub, and the state's millennial population growth is about 6%.
For Connecticut millennials, WalletHub found that:
- Median student loan debt is $18,222.
- Average monthly earnings is $3,726.
- Average earnings growth is 7.66%.
WalletHub also determined that Connecticut's average millennial homeownership rate is 40.54%, and the state has the nation's second highest percentage of millennials living with their parents at 40.95%.
According to WalletHub, Connecticut has one of the highest millennial unemployment rates in the nation at 12.02%, a millennial underemployment rate of 10.9%, and about 14% of the state's millennials live below the poverty level.
Nation's best and worst
North Dakota was ranked the No. 1 best states for millennials and West Virginia was ranked the worst.
North Dakota ranked No. 1 in quality of life and economic health, and has the lowest millennial unemployment rate (3.94%) and lowest share of millennials living with their parents (15.57%) in the nation.
Although West Virginia has the fifth lowest housing cost and second highest millennial homeownership rate, it also ranked 42nd in education and health, 49th in quality of life, 50th in civic engagement, and last in economic health.