Virginia Gov. Bob McDonnell (Steve Helber/Associated Press)

First, the unemployment rate dropped. Then, the state posted some higher-than-expected revenue figures.

Now, has ranked Virginia the “Best State to Make a Living” in its annual study. The state was in fourth place in 2011.

The Web site based the ranking on average income, which has increased over the past year; cost of living, which slightly decreased; the unemployment rate; and a stable income tax.

“Our administration is focused on getting Virginians back to work and our economy back on track,’’ McDonnell said. “Virginia is on the right track. Now, we must redouble our efforts to continue making Virginia a job-magnet and an economic leader in the years ahead.”