MSP is one of the country's top "magnets of opportunity" metros, Daily Beast says
The Minneapolis-St. Paul metro is one of the country's leading "aspirational cities," according to a Daily Beast study.
SEE ALSO: Twin Cities among best metros for the young, broke, and single, study says
The algorithm used for the Beast's piece considered economic (50 percent), quality of life (25 percent), and demographic (25 percent) factors. Put it all together and turns out there's only nine metros that offer a better mix of jobs and culture than the Twin Cities, the Beast concludes.
Here's a bit more from the Daily Beast on the methodology of the study, which was conducted by Joel Kotkin and Wendell Cox:
To determine America's current aspirational hotspots, we focused in large part on economic indicators, such as employment growth, per capita income, and unemployment. But we also took into account demographic factors, such as the growth of domestic migration and the movement of college-educated people and the foreign born.
Finally, we considered quality-of-life factors such as traffic congestion, housing affordability, and crowding--which are keenly relevant to young families hunting for the places with the best "inventory of the possible." In a sense, we believe aspirational cities reflect a kind of urban arbitrage, where people look for those places that provide not just economic and cultural opportunity but a cost structure that allows them to enjoy their success to the fullest extent...
[M]ost of our top cities are located in the American South and lower Midwest, and they attract businesses and people not only from other sections of the country but also increasingly from abroad as well... [But] Not all our top aspirational cities are in Dixie. If there's enough growth and opportunity, solidly blue-state regions can perform well enough to stay near the top of these rankings. Such cities include No. 8, Washington, D.C., and No. 10, Minneapolis-St. Paul, as well as No. 12, Seattle; No. 16, Denver; and even No. 22, Boston. In these cities, high-tech and professional-service growth has created enough wealth to offset higher costs while offering the next generation the chance to live in a culturally vibrant place where affording a home and raising a family are still possible.
MSP fares especially well in the unemployment metric, where our 5.1 percent unemployment rate ranks third among large metros, behind only Salt Lake City (4.4 percent) and Oklahoma City (4.6 percent).
Finally, here's the Daily Beast's full list of the top 15 "aspirational cities":
2. New Orleans
4. Oklahoma City
9. San Antonio
13. Salt Lake City
-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at email@example.com.
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