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Ranked: The richest states by 2025

Richest States Header Image

As change sweeps over the US, it’s time to look towards which states are on the greatest trajectory, and which will be in the best economic position by 2025. We’ve analyzed various factors to bring you the definitive financial forecast that ranks all 50 by how well placed they’ll be by the mid-point of the decade.

Methodology

To be able to compare states, it’s important to have an index that translates real data into a relative score. Taking existing historical data for real GDP, personal income per capita, and Zillow property prices, we’ve forecasted the 2025 values for each state.

Here, each state has been attributed a value between 0-1 (with 1 being the best positioned) for each of the three criteria, depending on their ranking position. Finally, we’ve determined 2025’s richest state by combining each’s three assessed scores to give a total value between 0-3.

US State Level Map Showing The Richest States

Which will be the wealthiest states by 2025?

To begin with, we’re bringing you the main event: the wealthiest state by 2025. Combining each of the three criteria, California comes out on top, with an impressive index score of 2.71, followed by Massachusetts (2.13), Washington (2.00), New York (1.95), and Hawaii (1.52).

Meanwhile, at the other end of the table, Mississippi is forecasted to have the lowest index score by 2025, with just 0.06, while West Virginia (0.09), Arkansas (0.30), Oklahoma (0.35), and Alabama (0.36) complete the bottom five.

Table Showing Top 25 States

 

How does each state rank by GDP?

In forecasting the economic health of each state, it’s impossible to look beyond the predicted GDP. With a projected GDP of over $3.3 trillion by 2025, California, again, sits top with an impressive perfect score of 1.00. Staggeringly, the Golden State’s GDP index score comes in 50% larger than second placed Texas’ (0.62), more than twice that of third placed New York (0.49), three times the total of fourth placed Florida (0.33), and four times greater than fifth placed Illinois (0.24).

Ranked lowest in our 2025 GDP index, Vermont and Wyoming failed to even record a score above the minimum 0.00, while Alaska, South Dakota, Montana, Rhode Island, North Dakota, Maine, Delaware, and West Virginia each only managed to total 0.01.

Table Showing The Richest US States - 25-50

 

The states with the greatest personal income

Personal income is often used to determine household wealth, and it has an important part to play in helping to predict how each state will be fairing economically by 2025. Assessing the five strongest performers, according to our index, only California (0.84) offers a break from the East Coast, with the Pacific state sitting fifth behind New Jersey (0.87), New York (0.96), Connecticut (0.97), and personal income leaders Massachusetts (1.00).

Turning our attention towards the other end of the index, however, Mississippi (0.00) is 2025’s prediction for the state with the lowest personal income per capita, with West Virginia (0.07), New Mexico (0.10), Alabama (0.15), and Kentucky 0.16) also making the bottom five.

Average home value by state by 2025

So, where will we find the most valuable properties by 2025, according to Zillow? Analyzing the average predicted value of homes across each of the 50 states, Washington is projected to take the top spot and come away with a maximum index score of 1.00, closely followed by homes in Hawaii (0.98). Finishing off the top five, we have Massachusetts (0.96), California (0.86), and Idaho (0.81).

At the other end of the scale, 2025’s most affordable properties are predicted to be found in the state of West Virginia (0.00), while Mississippi (0.04), Arkansas (0.09), Oklahoma (0.09), and Iowa (0.09) all also feature in the lowest-priced five according to our index.

As things begin to change across the nation, it’s important that we understand the economic health of our states, and which will be leading the way by 2025. For even more expert insight, make sure to explore our blog. Or you can find out more about Moneypenny and our phone answering service and our business live chat service.

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