South Carolina ranks among the top 10 states in the nation for violent and property crime rates. It also has the highest debt-to-income ratio and poverty rate, ranking among the top 10 in the United States.
Methodology: To find the worst states to live in from a money perspective, GOBankingRates used calculations across a range of factors to find the cheapest, safest, and most likely states for the average person to succeed. I found. A number of factors were found for each state, including: [1] violent [2] Real Estate Crime Data from NeighborhoodScout [3] Median home average property tax taken from ATTOM data, [4] Average income tax rate source: US News and World Report, [5] Unemployment rates are based on the American Community Survey of the US Census. [6] total cost of living, [7] medical expenses, [8] Food cost of living is obtained from the Missouri Center for Economic Research and Information. [9] Average debt-to-income ratios are taken from the Federal Reserve Data Portal. [10] Poverty rates are taken from US Department of Agriculture economic survey data. [11] FIPS codes are provided by the Federal Communications Commission. Each state was analyzed across all factors and organized into categories for scoring and sorting the data.factor [1] and [2] Scored, combined and weighted as 1 for the total score.factor [3] and [4] Scored, combined and weighted as 1.25 of the total score.factor [5] It is scored and weighted as 1 of the total score.factor [6], [7]and [8] Scored, combined and weighted as 1.5 of the total score.factor [9] and [10] Scored, combined and weighted as 2 of the total score. Categories are scored and combined into categories, then weighted according to importance and combined to arrive at a total score for each state. The total scores are combined and sorted to show the worst states for money. All data collected and current as of August 17, 2023.
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