The Ultimate Guide to America’s Best Small Cities
For the second year running, Carmel, Indiana, has clinched the top spot as the best small city in America, according to WalletHub’s annual report. This prestigious title is no small feat, considering the city was pitted against over 1,300 other cities with populations between 25,000 and 100,000.
What Sets Carmel Apart?
So, what makes Carmel stand out from the rest? For starters, its impressive median annual household income of nearly $133,000 and median credit score of 775 certainly contribute to its allure. Add to that its remarkably low unemployment rate of 3%, and it’s clear why residents are smiling all the way to the bank. And let’s not forget the affordable cost of living – residents only spend about 14% of their income on rent, making it an attractive option for those seeking a comfortable lifestyle without breaking the bank.
The Suburban Dream
According to WalletHub analyst Chip Lupo, Carmel’s appeal lies in its ability to offer the best of both worlds. “As a suburb of Indianapolis, Carmel provides an affordable place to live near the city, with all the amenities of the big city without the hefty price tag.” This sentiment is echoed by the 31% of Americans who prefer to live in the suburbs, seeking a balance between urban convenience and suburban tranquility.
The Top 10 Small Cities
Carmel may have taken the top spot, but it’s not the only small city worth noting. Brookfield, Wisconsin, secured the second spot, boasting an impressive 98% health insurance coverage rate and a 96% homeownership rate. The majority of the top 10 small cities are located in the Midwest, with most being suburbs of larger metropolitan areas. These cities offer a unique blend of affordability, stability, and access to big-city amenities.
The Key to Success
So, what’s the secret to these small cities’ success? According to Lupo, it’s all about finding a balance between urban excitement and suburban comfort. “People want a sense of stability, which you don’t always get if you’re in an area where houses are being flipped and rented constantly.” With their high ownership rates, low poverty rates, and strong economies, these small cities are proving to be the ultimate destination for those seeking a better quality of life.
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