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Iowa ranked 37th in a new national ranking of which states offer the best conditions to start up a business.

In an analysis published by the financial-services website earlier this month, states were graded on a 100-point scale for overall rankings. The study examined three key areas: business environment, access to resources and business costs.

“A state that provides the ideal conditions for business creation – access to cash, skilled workers and affordable office space, for instance – can help new ventures not only take off but also thrive,” the analysis states.

Texas came in first in the ranking, while Rhode Island had the lowest overall score.

Iowa ranked 39th in terms of business environment, 32nd in access to resources and 27th in the “business costs” dimension. These three areas cover 26 individual measurements examined in the WalletHub study.

“Business environment” includes categories such as average length of the work week, percentage of engaged employees and the number of startups per capita. The “Business costs” category includes metrics such as office space expenditures and labor costs. And “access to resources” deals with the availability of venture capital and skilled employees.

Iowa received higher scores in certain measurements. The state was tied for No. 1 in terms of most accessible financing for small businesses, and it was ranked first for most affordable office space.

The average cost of office space in Iowa is $12.08 per square foot, according to the study, and the average small business loan comes in just below $30,000.

In addition, Iowa was ranked fifth for its five-year business survival rate. The study quotes U.S. Bureau of Labor Statistics data in stating that 20 percent of all startups fail to remain in business beyond one year, and almost one-half of them don’t survive beyond the five-year mark.

Rounding out the top-10 business-friendly states are Utah, Georgia, North Dakota, Oklahoma, Florida, Arizona, California, Montana and Colorado.