FL Among Best Southern States To Become A Millionaire: New Ranking
The list analyzed several factors including cost of living, income, education rates and access to venture capital. See where FL ranked. A new ranking by online gaming website Casino.org has found that Florida is one of the best southern states to become a millionaire, ranking it at 35 and 48. The ranking, which included several factors such as cost of living, average income, and education rates, was combined to create a weighted score for states and 20 U.S. cities, with 100 being the best possible score. California topped the list with a score of 80, while New York came in at No. 2 and Massachusetts claimed third place. The states where you are least likely to become millionaire were Mississippi and West Virginia.
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The ranking, published last week by online gaming website Casino.org, analyzed several factors including cost of living, average income and education rates to determine which states and U.S. cities give residents the best shot at becoming a millionaire. The factors were then combined to create a weighted score for states and 20 U.S. cities, according to the ranking, with 100 being the best possible score.
Compared to other states, the odds of becoming a millionaire is fairly slim in Florida, according to the ranking. The Sunshine State earned a score of 35, making it one of the best in the South for probability. Virginia topped the southern contenders with a score of 48, with Texas and Georgia securing some of the highest scores in the region.
California earned the overall top spot on the list of best states to become a millionaire with a score of 80. According to the ranking, 17.9 percent of California's population are already millionaires and the state has more venture capital than most of the U.S. combined. New York came in at No. 2 with a score of 72, while Massachusetts claimed the third spot with a score of 71.
The states where you are least likely to become a millionaire were Mississippi with a score of 2, followed by Arkansas and West Virginia. As for the best U.S. cities to become a millionaire, it should not be a surprise that three of the top four are in California. The No. 1 spot went to San Francisco, followed by San Jose at No. 2 and Los Angeles at No. 4. Boston claimed the third spot.
U.S. cities where you are least likely to become a millionaire were El Paso with a score of 13 and Indianapolis with a score of 21.