This Alabama city was just named one of America's best places to live

The Village at Hoover Preserve (Photo: Dungan Nequette Architecture)

The Birmingham suburb of Hoover has been named the 28th best city in America to live in a special report by 24/7 Wall St., one of the top financial news and opinion sites on the web.

With unemployment almost non-existent (3.8%), very little crime (104.5 violent crimes per 100,000 residents), and low cost of living relative to median household income, Hoover was a no-brainer choice for the list, according to 24/7 Wall St.

So how was the list compiled?

According to the five financial analysts who did the research, they “reviewed data on the 550 cities with populations of 65,000 or more as measured by the U.S. Census Bureau. Based on a range of variables, including crime rates, employment growth, educational attainment, and housing affordability, 24/7 Wall St. identified America’s 50 Best Cities to Live.”

In order to even be considered for the list, a city must have had “positive employment growth” between 2011 and 2013, and could not have an unemployment rate more than 33% above the national average in 2013. That immediately eliminated over 170 cities from all over the country.

In addition to the economy, here are some other variables 24/7 Wall St. used to calculate the top cities:

Crime:

Roughly half of all cities were excluded because they reported property or violent crime rates that were at least 25% higher than the 2012 national rates.

The vast majority of the nation’s best cities to live in had especially low violent crime rates. In fact, the violent crime rate in 35 of the 50 cities was less than half the national rate of 387 incidents per 100,000 residents in 2012.

Education:

In order to compare educational outcomes in each city, we ranked math, language arts and science scores tabulated by Homefacts, a RealtyTrac subsidiary. Seven of the top 10 cities on our list were among the top 10% of large cities nationwide for math achievement and eight were among the top 10% for language arts.

Amenities:

We also measured the availability of amenities, such as restaurants, theaters and fitness clubs. While such factors might seem like an afterthought, Americans spend an average of more than five hours each day on leisure activities, according to the Census Bureau… Features such as access to outdoor activities, beautiful parks and gyms “are the type of amenities that often will set apart certain communities from others.

Commuting:

Commuting times can also influence where people live. Proximity to larger metro areas makes getting to work faster. In 34 of the best cities, the average commute time was below the national average of 26 minutes. Additionally, in 10 of these cities, residents both walk and take public transportation in greater proportions than the national average rates, both of which reduce traffic and have the potential to make commuting more pleasant.

Cost of living:

Many of the best cities are expensive when judged by the national cost of living, an index that compares the cost of a basket of consumer goods in cities across the U.S. However, cost of living varies widely by region. When the best cities are compared to their state, a majority are no more than 20% more expensive than the state’s average cost of living.

So after calculating all of that and more, here’s what the folks at 24/7 had to say about Hoover, the only Alabama city to make the list.

Hoover, Alabama

> Median household income: $70,583
> Unemployment rate, 2013: 3.80%
> Median home value: $251,300
> Violent crime per 100,000 residents: 104.5
> Average commuter travel time: 24.4 minutes

Hoover is located roughly 10 miles outside of Birmingham. The city ranked among the safest in the U.S., with a violent crime rate of just 104.5 incidents per 100,000 people. Also, just 5.7% of people in Hoover lived below the poverty line, versus 15.9% nationally.

While the typical household earned more than $70,000 — far higher than the national median — the cost of living was in line with national averages. The unemployment rate was only 3.8% in 2013, lower than in all but eight cities reviewed.

Hoover also offers residents many amenities. In addition to eight museums, nine theater companies and more than 20 golf courses in Jefferson County, the city has many natural parks and community playgrounds. The Birmingham Zoo is also a short distance away.