“The best place to live” can be translated as a family-friendly place in which local economy booms. This is what exactly describing Eden Prairie, MN.
With 5.1% unemployment rate (over 4 percentage points above US National Average,) $119,012 median family income (annually), 12.61% job growth (2000-2009 period), and 50,000 jobs in town, it’s safe to say that Eden Prairie, MN is a great place to live and do business – and a place where budding entrepreneurs should focus on.
Here are some interesting comments on Facebook regarding Eden Prairie topping the list:
Eden Prairie is a great place to live… I live here. There are several senior residences and many places for volunteering :) – Noelle Pearson
Eden Prairie sounds like my kind of town. After living in Chicago most of my life, you get tired of all the problems the big cities has. I love to garden, and the winters are so long there. That may be a problem for me. But it still looks like a wonderful place to live. – Clifford Redd Sr
It is a great suburb. I worked there for 14 years and the people there are incredible. – Kathe Kempf
Entrepreneurs going local: which cities to focus on?
Well, Eden Prairie, MN is not the only one basking in all the glory. If you are an entrepreneur looking to go local, you might also want to consider these small cities.
If you are targeting premium market…
With $172,541 median family income (per year,) Bethesda is probably the right place for you to start a business because the residence has the buying power.
If you are targeting single and rich market…
Newport Beach, CA might also be a great place to start if your target market is single people. With $144,917 annual income and 30% of the population is single, this coastal town is your best bet.
If you are investing in affordable homes…
The median home price in Deerfield Beach, FL is $67,000 – not too shabby if you are focusing on investing in affordable real estate, partly thanks to the real estate crash.
If you are investing in premium homes…
Palo Alto, CA is the right place, with median home sale price of $1,180,000. Again, with the recent crash of real estate market, those pricey homes are now within reach.
Opportunities are out there – grab them!
Ivan Widjaya
On Money Magazine’s Best place to live 2010
Image by woolennium