NerdWallet explains how they analyze data to form their report, as follows: “Choosing where to live is one of life’s biggest financial decisions, and while big cities like New York and San Francisco get lots of attention, they may not fit everyone’s needs. So NerdWallet turned the spotlight on America’s vibrant small cities - communities that are not only thriving economically, but also are places that provide an affordable lifestyle for residents. These are some of the best places to live, with the vitality and growth of big cities combined with affordability and income equality.”
“Our analysis incorporated the following factors:
- Is the city poised to grow in coming years? We included population growth, income growth and the decrease in poverty over a three-year period.
- Is the city affordable for residents? To assess the cost of living, we included selected yearly costs associated with homeownership, divided by the median income for workers in the city.
- Are residents’ basic needs covered? To ensure that all residents have a basic level of stability, we included the percentage of the population with health insurance coverage and percentage of people whose incomes are below the poverty line. This metric helps mitigate high income inequality.”
Residents of the Bay Area are proud of their home towns and growth in these cities continues to be on the rise. With the number of homes available, the great school districts, and the variety of family entertainment available, the Bay Area is an attractive location for families and businesses.
By Pamela Moore, Feature Blogger for Brockway Realty, LLC
Originally Posted on Brockway Realty LLC's Official Blog