New Study Names Best 'Small City' in America

When it comes to places to live, America has something for everyone: bustling big cities to sleepy rural towns and everything in between.

Living in a small city encapsulates that "in between." A new study from personal finance company WalletHub defines a small city as a locale with a population "between 25,000 and 100,000."

WalletHub analyzed more than 1,300 small U.S. cities across 45 livability categories, including affordability, education, health and more.

After all the numbers were crunched, Carmel, Indiana stood alone atop the list.

Congratulations @CityOfCarmelIn, Brookfield, WI, @townofapex, @TownOfLexMA & @CityofWestfield for being the best small cities in America!https://t.co/oWexlhJHbp pic.twitter.com/4260BtAvgH

— WalletHub (@wallethub) September 30, 2025

Carmel earns high marks

A suburb of Indianapolis just north of Indiana's state capital, Carmel grades out highly in several areas.

From an economic standpoint, Carmel's unemployment rate of 3.3% is among the lowest in the country. It also has a median annual household income of nearly $135,000 along with the 46th-lowest cost of rent as a share of median household income, at around 14%.

"Low unemployment and high incomes have helped people in Carmel obtain high credit scores. The median credit score in the city is 775, which is the 20th-highest in the country and well into the excellent credit range," WalletHub said.

It's not just in the financial realm where Carmel earns praise. The city also has:

• The 11th-lowest share of adults in fair or poor health
• The 21st-lowest premature death rate in the country
• The third-lowest pedestrian fatality rate
• The 70th-lowest violent crime rate

For those reasons, it tops WalletHub's list as the top small city in America for the second year in a row in 2025.

Top 10 Small Cities in America in 2025, per WalletHub

1. Carmel, Indiana
2. Brookfield, Wisconsin
3. Apex, North Carolina
4. Lexington, Massachusetts.
5. Westfield, Indiana
6. Fishers, Indiana
7. Brentwood, Tennessee
8. Saratoga Springs, New York
9. Appleton, Wisconsin
10. Lehi, Utah

You can find the full WalletHub study here.