Between crushing student debt and a staggering 13.9 percent unemployment rate, there's no denying the recession has been unkind to America's young adults.

Even so, we may be putting too much focus on the big picture when it comes to gauging how badly young people are faring, says MoneyRates.com financial analyst Richard Barrington.

"There are so many stories about how difficult conditions are for young adults ... but one thing that we know is that conditions vary greatly from state to state," Barrington told Business Insider. "Probably the clearest example of that is the unemployment rate. While it's steadily remained around 9 percent nationally, in some states it's under 5 percent."

In a new study that hones in on where 20-24 year olds have the best shot at thriving in today's economy, Barrington analyzed 9 key lifestyle factors in all 50 states––including youth unemployment, education costs, car insurance, housing, nightlife, and overall healthfulness.