Many Americans moved to Chicago and Washington D.C. this summer for employment-related reasons, a recent study showed. Now, basing their study on the same "job growth factor" 24/7 Wall Street found the 50 best cities to live in the United States.
To compile the list, the experts at 24/7 Wall Street analyzed 550 cities in the country with more than 65,000 residents as of 2012. They ruled out any city that did not show significant employment or job growth between 2011 and 2013.
Information on education, environment, housing, leisure, infrastructure, crime and economy in these 550 cities were collected and ranked using a specific formula.
The study revealed some surprising results. None of the major cities like New York City, Houston or Los Angeles of America came in the top 10 because they either had high crime rates or high poverty rates that made them ineligible to qualify on the list.
Many of the cities that did make in to the ranking were located near larger cities. Below are the top 10 cities according to the raking:
1. Newton, Mass.
2. Bellevue, Wash.
3. Mountain View, Calif.
4. Pleasanton, Calif.
5. Evanston, Ill.
6. Irvine, Calif.
7. Troy, Mich.
8. Cary, N.C.
9. Flower Mound, Texas
10. Johns Creeks, Ga.
A previous study by Redfin found that affordability was a major reason why people were relocating. While jobs and wages also mattered, price of a home and cost of living were equally or perhaps a tad bit more important.
"The influence of affordability on domestic migration is a long-term consequence of the housing boom and bust. People aren't just moving to where the jobs are; it now matters how much homes costs when they get there. Affordability continues to play an important role in a choice to move from one city to another. Because of this, cities in the middle of the country will continue to be among the nation's fastest growth areas," according to the Redfin report.
