Capital cities tend to have the strongest economies in their respective states, as well as a rich history and broader cultural offerings, according to a new study by personal finance website SmartAsset. But many state capitals also tend to have less affordable housing options. SmartAsset sought to pinpoint the most livable capital cities in the U.S., comparing them based on residents’ discretionary income, unemployment rates, dining and entertainment options, and crime.
The study finds that state capitals in New England tend to be the “most livable,” with three of the six states in the region ranking in the top 10. But it was Honolulu that ranked number one. Though it may be an expensive place to live, the high incomes of Honolulu residents help offset the city’s high housing costs. Households there earn a median $63,400 per year, while the median home costs just under $1,400 per month, according to the study.
