Let’s shift gears today and revisit the Milken Institute’s 2008 Best Performing Cities Index, only for the next couple of days let’s look at what the Milken teams calls the small city rankings. 

We’ve reviewed the Milken Institutes Best Performing Cities ranking data for large cities here, and explained previously the factors that are considered.  Here’s an excerpt –

We’ve posted in months past about the Milken Institute’s Best City rankings – typically they had been published in odd numbered years, though this year the Milken Institute team elected to change to an annual schedule given the rapid changes in the economy.  We think that was a great idea, as the economic winds today have changed the course of job growth in many cities around the nation.

As always, we’re astounded at the variability that exists today from market to market, and looking at job growth and sustainability is no different.

The Milken Institute team publishes their methodology on their very informative website as to how they calculate the Best Cities rankings – here’s a link to the appropriate page.

We like the Best City rankings in particular as it is another detailed measure of a community’s investment in job growth and development, as well as reflecting somewhat the efforts at sustaining a vibrant economic milieu within a community.  Milken performs first rate analysis in our book in this regard, and we truly value their efforts and opinion.

Here are the markets ranked highest in the 2008 Milken Institute’s Best Performing Cities Index for small cities –

1) Midland, TX
2) Coeur d’Alene, ID
3) Bend, OR
4) St. George, UT
5) Grand Junction, CO

Interesting how some of these smaller cities also rank very highly in both our multifamily and single family rankings for investors.  By the way, we’re doing a feature article in this month’s Emerging Market Report newsletter on the Milkin Institutes Best Performing City Indices. 

Tomorrow we’ll take a look at the markets around the country ranking the lowest on the 2008 Milken Institute Best Performing Cities Index for small cities. 

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