LOGAN — Utah has the third-best state economy in the nation, according to a recent analysis from personal finance website WalletHub that measured economic performance, health and innovation across all 50 states and the District of Columbia.
The 2026 rankings placed Utah behind only Massachusetts and Washington, with strong marks for business growth, income levels and technology-related employment. Idaho ranked 11th overall, while neighboring Wyoming finished 46th.
WalletHub compared states using 28 indicators, including gross domestic product growth, unemployment, startup activity, exports, research and development investment, and the share of jobs in high-tech industries.
Utah ranked fourth nationally for GDP growth, third for startup activity, sixth for the percentage of jobs in high-tech industries and second for growth in nonfarm payrolls. The state also ranked first in the nation for median household income after adjusting for cost of living.
According to WalletHub, Utah’s economic strength is supported by a highly skilled workforce and a healthy labor market. The report noted that Utah has the seventh-highest share of STEM professionals and ranks sixth for the share of fast-growing firms, helping drive job creation and business expansion.
The study also highlighted Utah’s future growth potential, citing the fourth-highest rate of business growth and a strong concentration of technology-related employment.
Idaho performed particularly well in measures of economic health, ranking second nationally in that category, helping the Gem State secure an 11th-place overall finish. Wyoming ranked near the bottom of the list, placing 46th overall and 44th in innovation potential.
“A strong state economy doesn’t guarantee success for the state’s residents, but it certainly makes financial success more attainable,” WalletHub analyst Chip Lupo said. “Factors like a low unemployment rate and high average income help residents purchase property, pay down debt and save for the future.”
Massachusetts claimed the top overall ranking, which WalletHub attributed to strong research and development investment, a large concentration of high-tech jobs and a high rate of patent creation.
The rankings were compiled using data from federal agencies and research organizations, including the U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, National Science Foundation and the Kauffman Foundation.