Raleigh, North Carolina; Ogden, Utah; and Salt Lake City, Utah have been named this year’s best-performing large cities, according to the Milken Institute’s annual report ranking metropolitan areas across a range of economic factors. The study highlights cities excelling in job growth, affordable housing, economic equality, and other key indicators of prosperity.
**Why It Matters:**
The Milken Institute’s rankings shed light on U.S. cities that are thriving economically, offering insights into where opportunities are growing and living conditions are improving. As the report notes, cities have largely rebounded from the disruptions of the COVID-19 pandemic and continue to serve as hubs of economic activity.
**The Big Picture:**
Raleigh claimed the top spot this year after ranking second in 2024 and third in 2023. The report praises the city for its strong job and wage growth, as well as its flourishing high-tech sector. "It's been a long time coming for Raleigh, which has consistently performed well in our rankings but never reached the top until this year," the report states.
Utah also emerged as a standout, with Ogden and Salt Lake City securing the second and third spots, respectively. Ogden’s remarkable rise—jumping 24 places from last year—is attributed to significant improvements in its labor market. Salt Lake City, meanwhile, boasts a robust job market, a growing tech sector, and widespread access to economic opportunities.
**Top 10 Cities:**
The rest of the top 10 includes:
4. Huntsville, Alabama
5. Colorado Springs, Colorado
6. Austin, Texas
7. Fayetteville, Arkansas
8. Olympia, Washington
9. Palm Bay, Florida
10. Boise City, Idaho
**Smaller Cities on the Rise:**
The report also highlights the growth of smaller cities, driven by lower housing costs and improved economic equality. Places like St. George, Utah (near Zion National Park) and Auburn, Alabama, are seeing notable job and wage growth, making them attractive alternatives to larger metros.
**How the Rankings Work:**
The Milken Institute, a nonpartisan, nonprofit think tank, bases its rankings on the Best Performing Cities Index, which evaluates labor market performance, tech industry growth, and access to economic opportunities. However, the report does not account for other quality-of-life factors like traffic, public transit, or park space, which may influence where people choose to live.
**The Bottom Line:**
If you’re looking for a thriving city outside of traditional hubs like New York, Chicago, or Los Angeles, this list offers a compelling starting point. Raleigh, Ogden, and Salt Lake City—along with other rising metros—are proving to be dynamic centers of economic opportunity and growth.