home insurance companies are leaving FloridaFor those who don't want to move to Florida, cities like Durham and Boise offer bona fide alternatives. North Carolina, for example, ranked asin 2022, due to a strong economy and the wealth of highly-educated workers in the vaunted "research triangle" area.
On the bottom end of WalletHub's ranking, Washington, D.C. finished dead last — despite boasting a population with the third-highest share of working-age people holding a college degree. The nation's capital also suffered due to some of the longest average work weeks and highest office space costs. New York City didn't rank much higher, finishing 97th. Its large population and reputation as the world's financial capital do make it attractive to entrepreneurs. But New York is a costly place to do business, with relatively high corporate tax rates and some of the highest office space costs in the country, WalletHub noted.
To determine its rankings, WalletHub graded cities across 19 weighted metrics including cost of labor, office space affordability, corporate tax rates, loans and venture investments per capita, and availability of educated workers. Much of that data came from the U.S. Census Bureau, the Bureau of Labor Statistics, the Ewing Marion Kauffman Foundation, the National Venture Capital Association, and other sources including WalletHub's own research.