Have you always wondered where you can get the most bang for your buck? How about which states pay the best and which states pay the worst? Business.org investigated average salaries across the United States to find out which states have the best and worst pay.
This study focused on calculating how many hours, at the median hourly wage, it would take to afford a median 1-bedroom apartment in each state.
If you’re looking to get the most bang for your buck, Wyoming tops the list. In Wyoming, the median yearly wage is $40,240, the monthly rent for a 1-bedroom apartment costs $650, and the number of hours to work to afford rent total 33.6 hours.
According to Business.org, the top 10 best-paying states are, for the most part, in the Midwest or central U.S. The top 10 are as follows:
2. North Dakota
3. West Virginia
7. South Dakota
When it comes to states where you get the least bang for your buck, it should come as no surprise that the lower-ranking states boast large cities. Because, let’s face it: Cities are the most expensive areas to live.
Coming in at No. 51, New York rounds out the list. Although the median yearly wage for New York is $44,990, the median monthly rent for a 1-bedroom apartment comes in at a whopping $2,199, and the number of hours to afford the apartment is 101.7 hours.
Starting with New York, here are the 10 lowest-paying states, according to Business.org:
1. New York
7. New Jersey