Posted by: Richie Bernardo

Many Americans prefer to live in rural areas, but far more call cities their homes. Though urban settings are less than 3 percent of the U.S. landmass, they contain around 80 percent of the total U.S. population.

There are many factors that make highly-populated areas great to live in. Big cities represent opportunity, economic and otherwise, which appeals to people of all walks of life – especially young professionals seeking advancement in their careers and social lives. Another main draw is easy access to diverse dining and entertainment options that are comparatively scarce in more rural settings.

But big-city life requires tradeoffs, too. Higher cost of living is a concern, along with pollution, traffic delays and limited living space. Each major U.S. city has a unique set of issues, to go along with its own character and charm. However, some big cities tackle their problems and emphasize their strengths more efficiently than others.

To help readers find the best big city to call home, WalletHub compared the 62 largest U.S. cities based on 56 key indicators of attractiveness. Our data set ranges from the quality of public schools and life expectancy to job opportunities and property taxes. Read on for our findings, insight from a panel of experts and a full description of our methodology.

1. Main Findings
2. Ask the Experts
3. Methodology

Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/14358/geochart-livein.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2uIdoz8>

 

Best Large Cities to Live in

Overall Rank (1 = Best)	City	Total Score	‘Affordability’ Rank	‘Economy’ Rank	‘Education & Health’ Rank	‘Quality of Life’ Rank	‘Safety’ Rank
1	Seattle, WA	63.63	50	1	1	6	30
2	Virginia Beach, VA	63.27	3	25	7	47	4
3	Austin, TX	63.24	28	2	8	16	21
4	San Francisco, CA	62.56	54	6	3	2	25
5	San Diego, CA	62.49	51	15	4	4	10
6	Honolulu, HI	61.41	53	3	5	12	9
7	Portland, OR	61.07	42	9	6	5	37
8	San Jose, CA	60.87	47	4	2	25	13
9	Colorado Springs, CO	60.72	2	13	13	42	24
10	New York, NY	60.38	62	29	29	1	1
11	Minneapolis, MN	59.91	33	12	12	13	34
12	Denver, CO	59.78	30	5	21	20	27
13	Las Vegas, NV	59.55	22	43	42	3	23
14	Raleigh, NC	58.75	7	18	10	36	50
15	Mesa, AZ	58.18	4	24	18	60	12
16	Tampa, FL	57.77	24	28	34	18	18
17	Pittsburgh, PA	57.77	36	44	14	19	17
18	Washington, DC	56.81	52	27	24	10	6
19	Omaha, NE	56.55	14	34	20	40	26
20	Charlotte, NC	56.49	10	17	16	44	38
21	Columbus, OH	55.77	26	31	39	33	5
22	Aurora, CO	55.66	23	8	17	62	22
23	Boston, MA	55.25	60	14	26	17	2
24	Sacramento, CA	54.94	40	26	19	22	32
25	Lexington-Fayette, KY	54.79	9	42	28	46	31
26	Chicago, IL	54.51	48	56	35	7	8
27	Phoenix, AZ	53.78	11	36	27	41	44
28	Atlanta, GA	53.71	34	50	31	8	47
29	Nashville, TN	53.71	15	21	46	29	42
30	Oklahoma City, OK	53.41	1	23	38	53	49
31	Arlington, TX	53.14	31	37	37	61	3
32	Fort Worth, TX	53.07	25	16	40	55	28
33	El Paso, TX	52.99	20	32	52	49	15
34	Riverside, CA	52.83	35	19	22	58	29
35	Louisville, KY	52.54	5	48	49	38	36
36	Los Angeles, CA	52.15	61	39	25	9	11
37	Tucson, AZ	52.11	27	30	32	23	54
38	Anaheim, CA	51.75	55	11	9	57	20
39	San Antonio, TX	51.61	19	7	53	32	55
40	Kansas City, MO	50.90	13	46	30	43	53
41	Jacksonville, FL	50.69	12	51	44	39	41
42	Corpus Christi, TX	50.35	21	22	55	54	35
43	Long Beach, CA	50.34	57	33	15	37	16
44	Wichita, KS	50.12	6	45	36	56	52
45	Bakersfield, CA	50.09	18	40	43	51	48
46	Oakland, CA	49.35	58	10	11	26	51
47	Fresno, CA	49.26	38	54	47	45	19
48	Miami, FL	49.13	56	38	48	11	33
49	Philadelphia, PA	49.03	43	58	58	14	7
50	Dallas, TX	48.99	41	35	50	31	40
51	Albuquerque, NM	48.98	8	55	33	27	61
52	Houston, TX	48.70	37	41	51	28	45
53	Santa Ana, CA	48.48	59	20	23	59	14
54	New Orleans, LA	48.25	39	52	56	15	46
55	Milwaukee, WI	47.28	44	49	41	35	43
56	Tulsa, OK	46.95	17	47	45	48	58
57	Indianapolis, IN	45.79	16	57	54	34	57
58	St. Louis, MO	42.81	32	53	61	21	60
59	Baltimore, MD	41.23	46	59	60	30	39
60	Cleveland, OH	38.59	49	62	57	24	56
61	Memphis, TN	37.20	29	60	59	50	62
62	Detroit, MI	33.15	45	61	62	52	59

Ask the Experts

To help ease the process of finding the right big city to call home, we asked a panel of experts to weigh in on key matters relating to relocation. Click on the experts’ profiles below to read their bios and thoughts on the following key questions:

1. What are the most important financial factors to consider when deciding where to live?
2. What is the biggest mistake people make when planning a move to a new place?
3. What steps should a person taken to determine if an area is right for him or her to move to?
4. Is it always a good idea to rent before buying in a new area?
5. What can local policymakers do to attract and retain new residents?

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• Clara E. Irazábal-Zurita Director of the Latinx and Latin American Studies Program, Professor of Urban Planning, Department of Architecture, Urban Planning + Design (AUP+D), University of Missouri - Kansas City
• Tonya Nashay Sanders-Thach Associate Professor, City and Regional Planning, School of Architecture + Planning, Morgan State University
• Dave Yeske CFP, Managing Director, YeBu.com & Distinguished Adjunct Professor at Golden Gate University
• Larry A. Rosenthal Senior Lecturer of Public Policy; Program Director, Center on Civility & Democratic Engagement; Resident Faculty, Institute for the Study of Societal Issues, University of California, Berkeley

Clara E. Irazábal-Zurita Director of the Latinx and Latin American Studies Program, Professor of Urban Planning, Department of Architecture, Urban Planning + Design (AUP+D), University of Missouri - Kansas City

What are the most important financial factors to consider when deciding where to live?

The most important financial factors to consider when deciding where to live are the sources of income that are going to be available in the new setting and the cost of living.

If the move occurs for a new job, this should minimally cover all living expenses. Ideally, it should serve to save too. There are websites and web based calculators that can approximate the cost of living for different cities and compare among them. It’d recommend using them and also consulting in advance with people living in the area where one is planning to move. One needs to keep in mind that cost of living can still vary significantly in different areas within the same city. Usually, housing costs are the largest in a household budget. Whether renting or paying mortgage, it should not be more than 30% of income. Otherwise, it can be an overburden, compromising the allocation of other important areas, such as transportation, food, health, education, etc.

What is the biggest mistake people make when planning a move to a new place?

The biggest mistake people make when planning a move to a new place is mis-estimating the relationship between sources of income that are going to be available in the new setting and the cost of living. If income is insufficient, people can incur in debt and the situation will eventually become unsustainable. People may be forced to have more than one job, potentially compromising their quality of life and health. Negatively, people may face financial default or house eviction, from which it is hard to recover.

What steps should a person take to determine if an area is right for him/her to move to?

A person should do research. There are websites that inform about housing prices, cost of living, crime, parks and other amenities, etc. in an area. Ideally, a person should also ask around to both specialists (e.g., realtors) and residents about conditions in the area (e.g., about sense of community, respect among neighbors). Lastly, it is recommended that a person explores the area by herself (walking and driving around), to get a sense of its feel and fit.

Is it always a good idea to rent before buying in a new area?

Because it is recommended that a person explores a new area where she is considering living to get a sense of its feel and fit before making a decision about moving in, it’d be prudent to rent in the area before making a longer term commitment of buying property there. Renting could be skipped if a person is already familiar with the area where she is moving to, completely trusts the advice she gets about it, or has the resources to comfortable invest in an area of proven record of appreciating in value, so that if ultimately she does not live there for long, can always rent or sale the property for profit.

What can local policymakers do to attract and retain new residents?

The most critical effort policymakers can do to attract and retain new residents is to protect and expand the existing stock of affordable housing in an area.

They should also promote mixed-use and mixed-income neighborhoods. Neighborhoods that are safe, pedestrian friendly, and supportive of multimodal transportation usually offer high quality of life and are thus attractive to old and new residents.

Tonya Nashay Sanders-Thach Associate Professor, City and Regional Planning, School of Architecture + Planning, Morgan State University

What are the most important financial factors to consider when deciding where to live?

While there are many quality of life measures that influence where a person decides to live (i.e., climate, arts/entertainment scene, family (too close or too far away), it is the stalwarts like employment, salary/budget, and cost of living that are going to be the main determinants. Employment opportunities are many times that main reason that attracts someone to an area. Certain areas are known for hosting an abundance of a particular industry. Think of places like Silicone Valley for tech, Orlando for entertainment, Las Vegas for casinos, or New York for finance. Being able to find gainful employment in an industry that you desire is going to drive decision-making. On the flip side of this is salary/budget concerns. Will you be able to make enough money in that employment market to support yourself and any dependents? The average college graduate is leaving university with nearly $40,000 in debt. Add these monthly payments to a modest car note and sky-rocketing rents across the US, salary is going to be another huge factor to contend with early on. Lastly, cost of living or buying power is going to be the final foundational decision. Places in the Northeast and West Coast are going to be more expensive than the deep South and Mid-west. City-living is going to be more expensive than living in a less populated area. How far your dollar has to stretch to cover housing, food, medical, entertainment, etc. in relation to your salary will decisively impact a decision on where to live.

What is the biggest mistake people make when planning a move to a new place?

The biggest mistake people make when planning to move to a new place is not doing enough homework before hand. Whether you are moving to a big city or across country, it pays to do some reconnaissance work prior to making that move. If you plan on becoming a homeowner, check out the median sales prices of homes in that area. Can you afford it? If you have young children, or plan to have children in the future, check out the K-12 public education system. You don't want to move to an area, only to find out the public schools are underperforming. You will then either have to move or fork over thousands of dollars for a private school education. If you plan to live further from your place of employment for affordability reason, check out the public transportation system -- is one present, is it reliable, is it safe? If you have to drive, how is the daily commute on a Monday morning? These are the nuts and bolts of daily living that you want to find out before you move.

What steps should a person take to determine if an area is right for him/her to move to?

To determine if an area is right for you, if possible, the best thing to do is spend some time in the area. Spend some time in the area during the daytime and at night to really get a feel for the place and the people. Pick a random day during the week and one on the weekend. Talk to folks who have lived in the area for a long time and ask them what they love about the neighborhood. Ask them about the changes that they have seen over time. Hopefully, the changes have been positive. However, this on the ground opportunity is not always possible. If this is the case, utilize other sources like the internet. Many communities have Facebook pages where they post local events, there are official tourism websites that can let you know of local events as well. Google Maps allows you to take a virtual walk through town to see what things may look like. This can help you decide if this place is right for you.

Is it always a good idea to rent before buying in a new area?

Renting in new area before buying allows you time to get your bearings. It allows you to become more familiar with not only the place, but also the housing market. You don't want to overpay for a house you thought was a bargain because you are coming from a hot housing market where homes are sold before they are even advertised. It also allows you to see where you spend the majority of your non-working hours. If you find yourself near the waterfront or public park or hip new artsy area every chance you get, that might be the place you choose to buy. Renting can be a wise first step.

What can local policymakers do to attract and retain new residents?

Local policy makers have a lot of influence in attracting and retaining new residents. In hot housing markets, they can adopt inclusionary zoning so that more affordable housing units are built. They can ensure that public transportation is an efficient way for all residents to get to job centers and other attractions. They can focus on making quality K-12 education available to all of its families and having desirable recreation facilities. These are the things that new and current residents want and what will attract and retain each, respectively.

Dave Yeske CFP, Managing Director, YeBu.com & Distinguished Adjunct Professor at Golden Gate University

What are the most important financial factors to consider when deciding where to live?

Quality of life. Climate is certainly a consideration, and a lot of people focus on that, but the human/social environment contributes as much or more to livability as anything else. That’s why college towns are such good destinations: there tend to be more cultural events, like plays and concerts, not to mention other enrichment opportunities, like free lectures.

Access to high quality health care and emergency services are also important. That bucolic house in northern Idaho is going to seem great until you have to commute three hours twice a week for a medical treatment, or the ambulance takes 50 minutes to respond to an emergency call. The Centers for Disease Control and Prevention reports that mortality rates from accidents and preventable diseases are rising in rural areas.

What is the biggest mistake people make when planning a move to a new place?

Basing the decision solely on the cost of living, including taxes. I have watched people attempt “geographical arbitrage” many times over the years, moving from high cost areas to low, often pocketing some home equity proceeds along the way. Sometimes it works, sometimes not, depending on how much attention was placed on the quality of life dimension.

What steps should a person take to determine if an area is right for him/her to move to?

Visit, stay, more than once and, preferably, in different seasons. Map out a “week in your life” or even a “month in your life.” What does it look like, what will you do? Think about cultural amenities as well as the needs of everyday life, shopping, restaurants, theaters, etc.

Is it always a good idea to rent before buying in a new area?

It is VERY often a good idea to rent. People are tempted to say things like, rent is just money being flushed down the toilet, but renting provides something extremely valuable: flexibility. If you make a mistake choosing a neighborhood, or even a city or region, it’s easily correctible if you’re a renter, not so much so if you buy right away. The frictional costs of a short-term round trip in the real estate market can be extremely high.

What can local policymakers do to attract and retain new residents?

Focus on local amenities like transit, parking, and recreation.

Larry A. Rosenthal Senior Lecturer of Public Policy; Program Director, Center on Civility & Democratic Engagement; Resident Faculty, Institute for the Study of Societal Issues, University of California, Berkeley

What are the most important financial factors to consider when deciding where to live?

Rent levels. Home prices. Property and sales tax levels. Cost of living. Cost of commuting.

But the question may overstate the difference between financial and non-financial factors.

In a sense, all amenities (things I want nearby) and disamenities (things I want far away) are financial, inasmuch as they influence my own willingness to pay. Those bundled features also influence how sellers and landlords set prices. In a place like the Bay Area, for example, some renters and buyers will pay a lot more to live nearer to BART stations (which are relatively scarce in number given the geographic expanse of the region).

But not all amenities are traded in the marketplace for residential locations. I may actually be willing to pay an awful lot just to live near my beloved grandmother. But when I go to sell my location and its proximity to her, the number of possible buyers attracted to that feature will be very small (no offense, Gramma).

What is the biggest mistake people make when planning a move to a new place?

Not having local employment before arrival.

What steps should a person take to determine if an area is right for him/her to move to?

Secure employment. Identify rent levels and home prices. Research, and assess personal compatibility with, local climate. Understand cost of living and regional economic trends. Most importantly ☺, ensure quality and quantity of restaurants, cultural assets, and accessibility.

Is it always a good idea to rent before buying in a new area?

Not necessarily. Perhaps yes, for the most risk-averse households. But many newcomers shop for home-purchases in the first instance. For them it's a fine idea - they base their desire to move to a new city on good reasons, for them - and most often this works out. True, the cost of unwinding a purchase transaction usually exceeds the cost of escaping a lease. But accurately measured risk factors, for risk-neutral folks at least, involve multiplying probability of dissatisfaction by transactions cost. A buy-immediately decision may mean that higher exit costs are more than counterbalanced by low dissatisfaction probabilities.

What can local policymakers do to attract and retain new residents?

The question assumes policymakers desire new residents. Many do not. Many residents of cities large, medium and small - including their policy leaders - think their population size is perfect as is. We see this in the mismatch between the taste for creating new local jobs (and their revenue advantages), on the one hand, and willingness to develop new residences to house those added workers, on the other.

Take the fictional city of Fortress Gates, for example. Real estate owners (residential, commercial) in Fortress Gates contribute their disposable wealth to elect and maintain a city council favorable to their interests. Those owners and leaders (all members of a city-pride organization they call "FortressGuardians.org") are operating a monopoly, essentially. No one can supply the exact amenity mix of Fortress Gates to the marketplace that they can. They zealously defend those amenities against the threat of congestion. They know full well that new residences they cannot control in Fortress Gates will dilute their share of the market, thereby increasing supply (and competition) and lowering prices and asset values. Those who control Fortress Gates aren't stupid. Their question is "What can local policymakers do to repel and exclude new residents?"

Now there are places, like the equally fictional suburb of Frontier, who wish to grow their own new fortresses. If they genuinely desire to attract and retain new residents, it's easy. Open a Board of Tourism, and grant commissions to those who can get visitors to buy into Frontier before it's declared closed for further growth.

Alas, no Frontier stays open permanently. All buyer's clubs become owner's clubs eventually. The older a city is, the more it resembles Fortress Gates.

Methodology

In order to determine the best and worst large cities to live in, WalletHub compared a sample of 62 U.S. cities (with populations of more than 300,000 each) across five key dimensions: 1) Affordability, 2) Economy, 3) Education & Health, 4) Quality of Life, and 5) Safety.

We evaluated those dimensions using 56 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable living conditions. For metrics marked with an asterisk (*), the square root of the population was used to calculate the population size in order to avoid overcompensating for minor differences across cities.

Finally, we determined each city’s weighted average across all metrics to calculate its total score and used the resulting scores to rank-order the cities in our sample. Our sample considers only the city proper in each case and excludes cities in the surrounding metro area.

Affordability – Total Points: 20

• Housing Costs: Full Weight (~2.86 Points)Note: This composite metric comprises the following calculations: Median Home Price / Median Annual Household Income and Median Rent Price / Median Annual Household Income
• Median Annual Property Taxes: Full Weight (~2.86 Points)Note: This metric was calculated as follows: Median Real Estate Tax / Median House Price
• Cost of Living: Triple Weight (~8.57 Points)
• Median Annual Household Income: Full Weight (~2.86 Points)
• Homeownership Rate: Full Weight (~2.86 Points)

Economy – Total Points: 20

• Unemployment Rate: Full Weight (~1.67 Points)
• Underemployment Rate: Full Weight (~1.67 Points)
• Share of Population Living in Poverty: Full Weight (~1.67 Points)
• Debt per Median Earnings: Full Weight (~1.67 Points)
• Population Growth: Full Weight (~1.67 Points)Note: “Growth” compares the population size in 2016 versus in 2012.
• Income Growth: Full Weight (~1.67 Points)Note: “Growth” compares the income figure in 2016 versus in 2012.
• Building-Permit Growth: Full Weight (~1.67 Points)Note: This metric compares the number of annual new, privately owned residential building permits issued in 2017 versus in 2016 versus in 2015.
• Wealth Gap: Full Weight (~1.67 Points)Note: This metric measures the difference between the highest quintile and the lowest quintile of mean household income.
• Job Opportunities: Full Weight (~1.67 Points)
• Foreclosure Rate: Full Weight (~1.67 Points)
• Bankruptcy Rate: Full Weight (~1.67 Points)
• Food Insecurity: Full Weight (~1.67 Points)

Education & Health – Total Points: 20

• Quality of Public School System: Full Weight (~1.82 Points)Note: This metric is based on GreatSchools.org’s ratings of U.S. public school systems.
• High School Graduation Rate: Full Weight (~1.82 Points)
• Share of Population Aged 25 & Older with a High School Diploma or Higher: Full Weight (~1.82 Points)
• Share of Insured Population: Full Weight (~1.82 Points)
• Quality of Public Hospital System: Full Weight (~1.82 Points)Note: This metric is based on the Centers for Medicare & Medicaid Services’ ranking of public hospital systems.
• Premature-Death Rate: Full Weight (~1.82 Points)Note: This metric measures the “Average Years of Potential Life Lost” rate. In other words, it refers to the average number of years a person dies before typical life expectancy.
• Poor or Fair Health: Full Weight (~1.82 Points)
• Life Expectancy: Full Weight (~1.82 Points)
• Share of Live Births with Low Birthweight: Full Weight (~1.82 Points)
• Share of Obese Adults: Full Weight (~1.82 Points)
• Share of Physically Inactive Adults: Full Weight (~1.82 Points)

Quality of Life – Total Points: 20

• Average Hours Worked per Week: Full Weight (~0.83 Points)
• Average Commute Time (in Minutes): Full Weight (~0.83 Points)
• Walk Score: Full Weight (~0.83 Points)
• Bike Score: Full Weight (~0.83 Points)
• Access to Public Transportation: Full Weight (~0.83 Points)Note: This metric measures the percentage of commuters who use public transit.
• Quality of Roads: Full Weight (~0.83 Points)Note: Percentage of Pavement in Poor Condition.
• Traffic Congestion: Full Weight (~0.83 Points)
• Parkland (as Share of City Area): Full Weight (~0.83 Points)
• Playgrounds per Capita*: Full Weight (~0.83 Points)
• Restaurants per Capita*: Full Weight (~0.83 Points)
• Bars per Capita*: Full Weight (~0.83 Points)
• Dance Clubs per Capita*: Full Weight (~0.83 Points)
• Coffee & Tea Shops per Capita*: Full Weight (~0.83 Points)
• Museums per Capita*: Full Weight (~0.83 Points)
• Performing Arts Centers per Capita*: Full Weight (~0.83 Points)
• Movie Theaters per Capita*: Full Weight (~0.83 Points)
• Music Venues per Capita*: Full Weight (~0.83 Points)
• Fitness Centers per Capita*: Full Weight (~0.83 Points)
• Bike Rental Facilities per Capita*: Full Weight (~0.83 Points)
• Shopping Centers per Capita: Full Weight (~0.83 Points)
• Beaches per Capita*: Full Weight (~0.83 Points)
• Sports Fan-Friendliness: Full Weight (~0.83 Points)Note: This metric is based on WalletHub’s “Best Sports Cities” ranking.
• Weather: Full Weight (~0.83 Points)Note: This metric is based on WalletHub’s “Cities with the Best & Worst Weather” ranking.
• Air Quality: Full Weight (~0.83 Points)

Safety – Total Points: 20

• Violent-Crime Rate: Full Weight (~5.00 Points)
• Property-Crime Rate: Full Weight (~5.00 Points)
• Traffic Fatalities per Capita: Full Weight (~5.00 Points)
• Total Law-Enforcement Employees per Capita: Full Weight (~5.00 Points)

 

Sources: Data used to create this ranking were obtained from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Bureau of Investigation, Centers for Disease Control and Prevention, Council for Community and Economic Research, Chmura Economics & Analytics, TransUnion, Indeed, County Health Rankings, Centers for Medicare & Medicaid Services, Institute for Health Metrics and Evaluation, Walk Score, The Trust for Public Land, National Highway Traffic Safety Administration, The Road Information Program, Environmental Protection Agency, Inrix, GreatSchools.org, Renwood RealtyTrac, Yelp and WalletHub research.

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