Report: R.I. not the state for families to live a richer life

RHODE ISLAND is the eighth-worst state for families to live a richer life, according to a report from GOBankingrates.com. / COURTESY GOBANKINGRATES.COM
RHODE ISLAND is the eighth-worst state for families to live a richer life, according to a report from GOBankingrates.com. / COURTESY GOBANKINGRATES.COM

PROVIDENCE – Rhode Island ranks as one of the worst states for families to have a richer life, according to a study released Monday by GOBankingrates.com.
But if they want something better, they don’t have to travel too far – New Hampshire ranks as the best state for families to live a richer life.
The website made clear that the list was not all about money. “Living a rich life doesn’t just mean your family is wealthy, it means having access to opportunities that can increase your quality of living,” according to the website devoted to the list.
Rhode Island placed eighth on the worst states list, which was led by the District of Columbia, followed by California, Illinois, Connecticut, Nevada, Washington and Texas. The Ocean State was ahead of only Florida and New Mexico on the worst states list.

GOBankingrates.com had this to say about Rhode Island: “Home prices are a bit above average – the 16th highest – and you’ll get hit with one of the highest property tax rates around. Rhode Island scores well for education, but expensive child care and the nation’s second-highest sales tax, 7 percent, undermines the state’s lifestyle score. And while crime rates are low, Rhode Island suffers from the ninth-highest unemployment rate and one of the lowest health care scores.”

After New Hampshire, the best states for families to live a richer life were North Dakota, Delaware, Montana, Wyoming, South Dakota, Virginia, Arkansas, Idaho and Colorado.
The financial website surveyed all 50 states and the District of Columbia to come up with its list, looking at 12 factors: median household income, state unemployment rate, median home listing price, state property tax, state sales tax, annual childcare costs, annual groceries cost, violent crime and property crime rates, average family health insurance premium costs and the percentage employers contribute to employee health insurance, as well as school district grades.
“There really is no ‘one size fits all’ formula for those trying to decide the best place to raise their families today,” Kristen Bonner, lead researcher on the GOBankingRates study, said in a statement. “Our study examined some of the main concerns families have during this process and found that it is possible to live in states where the cost of living won’t drain your bank account and your children can still attend good schools in a safe environment.”

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