The best and worst states for the wealthy

Personal Finance

The country’s best places to live for the jet set all benefit from low taxes and good schools.

In the very top spot was Wyoming, which has no income tax at all and low property taxes. It is also among the states with the lowest population density (think large properties coupled with small property tax bills).

Here are the top five states for the upper class:

1. Wyoming
2. South Dakota
3. Massachusetts
4. Nevada
5. West Virginia

Alternatively, New Mexico landed in the worst spot for those with deep pockets, the personal finance site found. It has the highest property crime rate and lower income than most other states.

Here are the bottom five states for the wealthy:

46. Oregon
47. Arizona
48. Wisconsin
49. Hawaii
50. New Mexico

For a look at the complete list, click here.

For residents in high-tax states such as California and New York who are now considering a move, there a are a few things to consider in the wake of the GOP tax reform, which slashed deductions for state and local taxes.

More from personal finance:
How far $1 million goes in every state

42% of Americans are at risk of retiring broke
Among the best cities to retire, Pittsburgh comes out on top

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