Rhode Island Named One Of The Least Affordable States

Rhode Island is one of the least affordable states to live, according to a new ranking by WalletHub. The personal finance website ranked this year's best states to live, weighing factors including affordability, quality of life, safety and more.

Next-door neighbor Massachusetts topped the list as the best state to live in, despite being ranked 43rd in terms of affordability.

The affordability ranking was determined based on housing affordability, the cost of living, median household annual income, home ownership rate and median annual property taxes. Housing affordability includes factors including the cost of buying a house, the average cost of renting a house or apartment and other factors.

Overall, Rhode Island came in just below the middle of the ranking at 29 out of 50. Here's how the Ocean State ranked in each category:

• Affordability: 47
• Economy: 32
• Education and Health: 21
• Quality of Life: 40
• Safety: 5

While we're near the bottom of the list in terms of affordability, Rhode Island is ranked fifth in terms of safety.

New Hampshire, New Jersey and Colorado filled out the top five states to live in.

Read WalletHub's full report here.

Patch Editor Mike Carraggi contributed to this report.