When it comes to big city living, a new survey by WalletHub
finds the best urban market in a resort area along the Mid-Atlantic coast and the worst urban market in a Michigan city with a very long history of economic woes.
In an analysis of the nation’s 62 largest cities in terms that involved 50 key metrics covering housing and socioeconomic issues, WalletHub dubbed Virginia Beach, Va., as the best big city to live in thanks to having the highest homeownership rate (63.5 percent), lowest share of residents below the poverty line (8.3 percent) and fewest violent crimes (1.38 per 1,000 residents). Also ranking on this list were Seattle, Pittsburgh, San Diego and Colorado Springs.
At the other end of the spectrum, Detroit was named the worst big city to live in. Detroit was cited for having the highest share of residents below the poverty level (40.3 percent). In terms of homeownership, Miami had the nation’s lowest rate at 31 percent.