It might be hard to define the American Dream — it means many things to different people — but financial and software company SmartAsset has conducted a study to determine which cities are best for achieving that ultimate goal. The company looked at a series of metrics, including home values and homeownership rates, to find the top 10 cities. When the results came in, Aurora, Illinois was ranked in the top spot.
Aurora, which tied for first with West Valley City, Utah, scored well in all of SmartAsset’s American Dream defining categories. The Chicago suburb ranked 44th on SmartAsset’s last year, but shot to the top due to its strong economic mobility score and reduced unemployment rate.
Aurora has an average home value of $169,400 and a homeownership rate of 61.9 percent, according to the study. The unemployment rate in the city is just 4.1 percent. The city’s economic mobility rate came in at 49 (out of 50). The higher the number, the more likely the city’s residents can improve their economic standing from one generation to the next. Lastly, SmartAsset ranked Aurora’s diversity at 0.25, which was on the lower end and means the city is more diverse.
The other top cities for living the American Dream, listed in order of SmartAsset’s ranking, include: