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Ridgewood Ranks in the Top 2% of Small Cities in America According to a WalletHub Study

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the staff of the Ridgewood blog

Ridgewood NJ, with nearly half of the population saying that they’d prefer to live in a suburban area, the personal-finance website WalletHub today released its report on 2022’s Best Small Cities in America,

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What are the benefits of living in a small city versus a large city? What are the drawbacks? 

“Smaller cities often have more affordable housing prices and shorter, cheaper commutes (if one owns a car). A drawback of smaller cities is that they have fewer job opportunities than large cities.”
Nick Finio, Ph.D. – Associate Director & Assistant Research Professor, National Center for Smart Growth Research and Education, University of Maryland, College Park

“You end up having far more cash, usually, but have access to fewer cultural opportunities. Less car traffic but also no mass transit.”
Sonia Hirt – Dean & Professor, University of Georgia

Will small cities grow in popularity following the aftermath of the COVID-19 pandemic? 

“They already have been and there is evidence of this. It is unclear if this trend will continue now that the country is moving past the pandemic.”
Nick Finio, Ph.D. – Associate Director & Assistant Research Professor, National Center for Smart Growth Research and Education, University of Maryland, College Park

“I do not believe we know what the long-term effects of the pandemic are on mass psychology. Initially, evidence suggests that small towns are perceived as more attractive. But whether this is long-term, I do not know.”
Sonia Hirt – Dean & Professor, University of Georgia

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What can local policymakers do to attract and retain new residents in small cities? 

“Continue to allow for ample construction of new, more affordable housing. This will continue to pull people away from large metros.”
Nick Finio, Ph.D. – Associate Director & Assistant Research Professor, National Center for Smart Growth Research and Education, University of Maryland, College Park

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To help Americans put down roots in places offering good quality of life and affordability, WalletHub compared more than 1,300 U.S. cities with populations between 25,000 and 100,000 across 43 key indicators of livability. They range from housing costs and school-system quality to restaurants per capita and the crime rate.
Small-City Living in Ridgewood (1=Best; 660=Avg.):

  • 253rd – Housing Costs
  • 128th – Homeownership Rate
  • 45th – % of Population in Poverty
  • 286th – Income Growth
  • 102nd – % of Insured Population
  • 171st – % of Adults in Fair or Poor Health
  • 18th – Crime Rate
  • 166th – % of Residents Who Are Fully Vaccinated Against Covid-19

For the full report, please visit:
https://wallethub.com/edu/best-worst-small-cities-to-live-in/16581

 

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