Texas Ranked Best State to Make a Living in 2015
The decision to move to Texas continues to be reaffirmed. Ranked No. 2 for best food by state in the country, you gotta have a little spending money to enjoy all the sweet and savory eats of Texas barbecue - Miller's Smokehouse is currently my delicious sin - and Whataburgers. Forbes Magazine put out a Top 10 Best States to Make a Living article, followed by a Top 5 States video and guess who's No. 1?
That's right, the Lone Star State was the best state to make a living in 2015 based on studies that compared average wages, cost of living, taxes, unemployment rates, and workplace incidents.
- Average Income: $45,330
- State Tax on Average Income: $0 =)
- Unemployment Rate: 4.2%
Forbes' reporter Kathryn Dill took studies from the Bureau of Labor Statistics, Council for Community & Economic Research, Tax Foundation and MoneyRates.com to assess the list. In her article, she quotes senior financial analyst and author of the study, Richard Barrington:
The big picture is good–the job market is getting better these days, we’ve even seen wage growth start to tick up. But it kind of breaks down a little when you start to look state by state.
Texas ranked No. 2 in 2014 but nudged out former front-runner Washington state. Texas' slightly above average wages maximizes the benefits of the relatively lower cost of living to go with no state income tax.
I can't think of a better way to celebrate this news than with a beer and some brisket. Who's in?