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Minnesota's a fantastic place for millennials to live, study says

The study says Minnesota's millennials are employed, engaged with their community, and even have their own homes.

Minnesota is a great state to live in, especially if you're a millennial. That's according to a recent report WalletHub released Tuesday.

The website says late-teens-to-early-30-somethings make up the largest generation today. Millennials are responsible for 21 percent of all consumer discretionary spending in the U.S., but are estimated to earn 20 percent less than baby boomers did at the same age.

So WalletHub looked at things like livings costs, wages, home ownership and employment to see where millennials are prospering. And it seems like the Midwest is a pretty good place to be if you're in that age range.

North Dakota comes in at number one, followed by Minnesota, South Dakota, Iowa and Washington D.C.

What's so great about MN?

Minnesota has the highest rate of millennial homeowners of all states – even though our housing costs are only 26th best.

We also have the fifth highest percentage of millennials with health insurance. Minnesota has the seventh lowest millennial unemployment rate, and the 14th best average monthly income.

We're the second best in terms of "civic engagement," aka voter turnout and volunteering. Makes sense considering Minnesota ranked number one for voter turnout in November.

For overall "quality of life," we're eighth best. The ranking is the same for overall "affordability." That's interesting considering The Economist recently named Minneapolis the third most expensive city in North America.

According to WalletHub, the absolute worst state for millennials is West Virginia, followed by Mississippi, Alabama, New Mexico and Arizona.

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