Missouri most affordable state for millennials

WalletHub, the personal finance website, released last week its list of best and worst states for millennials in 2022.

Sociologists sometimes define millennials, also referred to as Generation Y, as those born from 1981 to 1996, with post-millennials, Generation Z, born between 1997 to 2012.

Missouri, which ranked No. 35 overall out of the 50 states, was rated America's most affordable state for millennials, just ahead of Illinois, Michigan and Ohio.

The top four least affordable states are Hawaii, Alaska, Colorado and Vermont.

Missouri ranked No. 2, just behind Iowa, in terms of lowest housing cost.

WalletHub's Adam McCann said millennials are currently the largest generation, having overtaken baby boomers in 2019.

"These mid-20s to early 40-somethings, responsible for 21% of all U.S. consumer discretionary spending, are sometimes depicted through negative stereotypes: entitled, parentally dependent and emotionally fragile," McCann said.

"Millennials entered the workforce in the shadow of the Great Recession, significantly reducing job prospects and earning potential. Plus, many millennials are struggling due to financial difficulties from the COVID-19 pandemic," he added.

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