Is California happiness worth its steep price?

The “Trying Glass” ponders financial and actual property traits by two distinct lenses: the optimist’s “glass half-full” and the pessimist’s “glass half-empty.”

Buzz: California ranked excessive on 4 nationwide scorecards taking a look at happiness whereas additionally being close to the highest of the charts for the price of dwelling.

Sources: My trusty spreadsheet reviewed 4 current “happiness” rankings in addition to a examine of state-vs.-state disposable incomes.

Debate: Is California definitely worth the steep worth?

Glass half-full

California ranks on 4 scorecards as a really “joyful place” on a nationwide scale.

Take into account the state’s high 10 end in rankings that attempt to put numbers on the “happiness” of a state. The numerous math of those research compares demographics, psychological well being, wellness, public security and financial alternatives.

California was No. 7 on WalletHub’s happiness scorecard. The state drew an eighth-place displaying in High Knowledge’s grades. There was a No. 9 rank from NiceRx’s evaluate.

And California was the fourth-least lonely state in AgingInPlace.com’s “loneliest states” rankings.

Subsequent, I averaged the rankings for every state grades from the 4 report playing cards. By this math, California ranks because the third-happiest state in my composite wellness rankings.

Simply forward of California was Hawaii and New Jersey. Simply behind was Maryland and Minnesota.

On the different finish of the spectrum, West Virginia was No. 50, then Arkansas, Kentucky, Louisiana and Ohio.

Glass half-empty

California’s happiness doesn’t come cheaply. So what’s the value of this potential paradise?

California’s $76,386 per capita revenue for 2021 ranked fourth among the many states, in keeping with a evaluate of federal information by Upgraded Factors. That’s 26% above the common revenue of all states.

However the typical California tax invoice and the excessive value of dwelling shave $17,504 off that bounty. These added prices are greater than triple the common state’s changes to a paycheck.

So after paying these bills, Californians are left with $58,882 in disposable revenue.

Sure, that ranks Tenth-highest. But it’s solely 6% above the 50-state common.

By the way in which, the states with the 9 largest largest tax/cost-adjusted revenue had been Connecticut, South Dakota, North Dakota, Wyoming, Massachusetts, New Hampshire, Alaska, Nebraska and Washington state.

The underside 5? Mississippi, then Hawaii, Arizona, Alabama and New Mexico.

Backside line

No assortment of research can present an ideal reply when requested, “Is the California life-style price it?”

California’s expensive value of dwelling means it’s a tricky promote even to of us who relish the Golden State’s qualities.

Look, no state is for everyone. And funds are a giant issue the place of us select to stay, too.

This disposable revenue information is one other reminder that the Californian dwelling leaves many of us with slim financial cushions.

Jonathan Lansner is the enterprise columnist for the Southern California Information Group. He may be reached at jlansner@scng.com