5. Iowa Debt per capita
: $1,690 (7th lowest) Budget deficit
: 20.3% (18th largest) Unemployment
: 5.9% (6th lowest) Median household income
: $49,427 (24th highest) Pct. below poverty line
: 12.8% (14th lowest)
Like many of the other well-run states, Iowa is one of the nation’s top agricultural centers — the industry accounted for 6.6% of the state’s GDP in 2011. The farm economy has contributed significantly to growth, with farm earnings rising rapidly and land values skyrocketing. State GDP rose by 1.9% between 2010 and 2011 — the 12th-highest increase in the country. Iowa’s unemployment rate fell from 6.3% in 2010 to just 5.9% in 2011, the nation’s sixth-lowest rate. The state has carried a low debt burden in recent years, averaging just $1,690 per capita in fiscal 2010, among the nation’s lowest. The state currently has the best possible credit ratings both from Moody’s and S&P.
(AP Photo/ Charlie Neibergall) More From 24/7 Wall St.
: Interactive Tool of All 50 States States with the Most Unemployment Insurance Losses The 12 Companies Paying Americans the Least The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.