Troy is Among CNN Money's 100 Best Small Cities in America

Great schools. Affordable housing. Low property taxes. A recovering economy. These are just a few of the reasons CNNMoney has ranked Troy the 26th best small city in which to live. 

"Like many places near Detroit, Troy suffered during the recession, but good times seem to be back," writes CNNMoney. "Auto companies' profits are rising and formerly vacant office space in Troy is filling up."

CNN Money credited Detroit's housing woes with making housing affordable in Troy. 

"The median home price is just $166,000, and property taxes are ultralow. That's a pretty good deal for a city that's for 10 of the past 14 years, has great schools and the best community sports program in the state."

Other statistics that helped catapault Troy to its spot in the top 100 is its median family income of $107,570, reading test scores at 30.1 percent above state average, math test scores at 27.1 percent above state average and more than 5,000 restaurants within a 15 mile radius.

Four other Michigan cities also made the top 100 list: (37), (78), (84) and Ann Arbor (100).

Each year, CNNMoney, a service of CNN, Fortune and Money magazines, ranks America's best small cities for families, looking at U.S. towns with populations of 50,000 to 300,000.

CNNMoney then ranks towns based on the quality of schools, the affordability of homes, the availability of jobs, the community's diversity, quality of life factors such as crime and commute time, and the availability of arts and leisure activities.

In addition, the national media group sends reporters to visit the towns and interview residents, assess traffic, parks and gathering places, and assess intangibles such as community spirit.

The poll's top five best cities to live in were Carmel, IN; McKinney, TX; Eden Prairie, MN; Newton, MA; and Redmond, WA.