REPORT: Florida ranks as best state economy in the U.S.

Among the 50 U.S. states, Florida has ranked as the best economy for its residents, according to a report by CNBC on Thursday.

In its list, CNBC said that Florida’s economy is “white hot,” with overall growth being among the strongest in the nation.

The Sunshine State placed No. 1 due to a well-balanced housing market, large GDP growth and job growth of 4.9%.

However, the report notes that Florida could be facing issues with affordability in the future as a growing population drives up demand. Similarly, Florida’s insurance markets are struggling, as well.

The rest of the list ranks as follows:

1. Florida
2. Texas
3. North Carolina
4. Georgia
5. Tennessee
6. Utah
7. South Carolina
8. Idaho
9. Indiana
10. Delaware

Meanwhile, CNBC also ranked the worst state economies, which are as follows:

1. Alaska
2. West Virginia (tied with Rhode Island)
3. Rhode Island (tied with West Virginia)
4. Mississippi
5. North Dakota
6. Louisiana
7. New Hampshire
8. Iowa (tied with Connecticut)
9. Connecticut (tied with Iowa)
10. Hawaii

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