Farmington Hills 14th Best City in America in New Ranking

Farmington Hills is the 14th best city in America to live, according to a new report from 24/7 Wall St.

Schools, the housing market, job opportunities and other factors play huge roles in where people live, and Farmington Hills delivers on all counts, according to 24/7 Wall St.

The city’s 7.9 percent poverty rate is less than half the 16 percent poverty rate across the state. The typical Farmington Hills household earns about $70,757 annually, significantly more than the national median household income of $53,657.

And though per capita income is high, the cost of living is relatively low. Across the board, goods and services cost about 6.3 percent less in Farmington Hills than they do on average in the United States.

With about 116 violent crimes per 100,000 residents, Farmington Hills, which has a population of 81,440, is also a relatively safe place. In Michigan, the violent crime rate is 427 incidences per 100,000 residents.

To compile its list, 24/7 Wall St. reviewed data on the 550 U.S. cities with populations of 65,000 or more as measured by the U.S. Census Bureau. Based on a range of variables, including crime rates, employment growth, access to restaurants and attractions, educational attainment, and housing affordability, 24/7 Wall St. identified America’s 50 Best Cities to Live.

Of the 50 best cities to live, 41 have unemployment rates below the national rate, and all but five have had faster recent job growth than the national job growth rate. Incomes in these cities, when adjusted for cost of living, exceed the national household income of $53,657 in the vast majority of cases.

The affordability of housing was another key measure in the assessment of U.S. cities. The median home value in all but nine of the 50 cities exceeds the value of a typical American home of $181,200.

Since housing prices are often tied to local and statewide market forces, a particular city’s home value was more often compared to statewide home prices. In all but a handful of the best cities to live, the city’s median home value was greater than the comparable state figure. In six of the 50 cities, a typical home was valued more than double the statewide value.

The median home value in Farmington Hills is $215,800, according to the analysis.

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» Photo via Zillow