For 2024, Florida was listed among the top states in the nation by U.S. News & World Report.
While the Sunshine State ranked No. 9 overall, it placed as the top state nationwide for the categories of “Education” and “Economy.”
Florida maintained its position as the top state for education for the second consecutive year, holding onto the No. 1 ranking in 2023 as well. It is uncertain whether Florida will retain this title once the rankings are updated later this year.
But why did Florida rank so high?
EDUCATION
According to U.S. News, Florida’s placement in the education rankings is largely thanks to its achievement in higher education.
Factors contributing to Florida’s top ranking include its college graduation rates and tuition fees. However, the state’s performance in PreK-12 education has room for improvement.
When it comes to higher education, Florida, ranked No. 9 overall among the Best States, stands out for its high rates of timely graduation for students pursuing two- and four-year degrees at public institutions. Additionally, students at public, four-year institutions in Florida have the lowest average amount of in-state tuition and fees compared to the rest of the country. In other higher education measures, Florida ranks in the middle for the average federal student loan debt held by young adults and the percentage of adults 25 and older with at least an associate degree in the state.
U.S. News & World Report, “Yes, Florida is No. 1 in the Country for Education. Here’s Why”
Breaking it down, Florida placed No. 1 for “Higher Education” and No. 10 for “PreK-12 Education.” The subcategories are as follows:
| Education Subcategory | Metric | Metric Value | Ranking |
|---|---|---|---|
| Higher Education | Tuition and Fees | $4,613 | No. 1 |
| Higher Education | 2-Year-College Graduation Rate | 62.90% | No. 2 |
| Higher Education | 4-Year-College Graduation Rate | 74.30% | No. 2 |
| PreK-12 | College Readiness | 20.15% | No. 5 |
| PreK-12 | Preschool Enrollment | 49.30% | No. 12 |
| PreK-12 | High School Graduation Rate | 87.30% | No. 19 |
| PreK-12 | NAEP Reading Scores | 259.63 | No. 21 |
| Higher Education | Educational Attainment | 44.50% | No. 25 |
| Higher Education | Debt at Graduation | $13,872 | No. 26 |
| PreK-12 | NAEP Math Scores | 271.20 | No. 32 |
ECONOMY
The report also shows that Florida’s economic achievements outpaced other states’, moving up six places from 2023.
In particular, GDP growth, a lack of a state income tax, and heavy inbound migration were big contributors to Florida’s No. 1 spot.
According to the most recent stats from the U.S. Census Bureau, over 1 million people moved into the state in 2022, making it a hotspot destination for many.
“The lures, as always, include the warm weather, the lack of a state income tax and a perceived lower cost of living – though the latter factor isn’t borne out in Best States data, with Florida ranking No. 38 on the project’s cost of living metric. Then came COVID-19 in 2020 and DeSantis’ move to keep more places open – a potential draw for residents of states with a stricter pandemic response.”
U.S. News & World Report, “Yes, Florida is No. 1 in the Country for Education. Here’s Why”
While insurance and housing issues may cause Florida’s economy to lose ground against other states, its manufacturing power, tourism appeal and high-tech sectors still make it a strong competitor economically.
Breaking it down, Florida placed No. 2 for “Economic Growth,” No. 7 for “Employment” and No. 13 for “Business Environment.” The subcategories are as follows:
| Subcategory | Metric | Metric Value | Ranking |
|---|---|---|---|
| Growth | GDP Growth | 6.18% | No. 1 |
| Business Environment | Tax Burden | 6.95% | No. 2 |
| Employment | Job Growth | 4.84% | No. 2 |
| Growth | Net Migration Rate | 1.68% | No. 2 |
| Business Environment | Business Creation Rate | 4.74% | No. 7 |
| Employment | Unemployment Rate | 2.91% | No. 15 |
| Business Environment | Venture Capital per GDP | $1.87 | No. 24 |
| Growth | Growth of Young Population | -1.59% | No. 25 |
| Business Environment | Top Company Headquarters Per Capita | 1.72 per 1 million residents | No. 30 |
| Business Environment | Patent Creation Rate | 243.63 per 1 million residents | No. 33 |
| Employment | Labor Force Participation | 59.60% | No. 41 |
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