But what makes the city such a great place? We've gathered a top five list based on the data included in the magazine:
1. A historic downtown that's not stuck in the past.You can see the city's history in the Village Mall, Farmington Civic Theater and other classic structures, but they're surrounded by landscaping and more modern elements that are part of the streetscape project completed in 2009. The magazine cited $3 million of current investment, including the Grove Street renovation, among its reasons for putting Farmington on the list.
2. The economy is growing.Money's collection of data about the city includes 3.32 percent in job growth between 2010 and 2012, and that number is likely to increase with the opening of businesses like Olie's Outlet and True Value hardware in the Farmington Crossing mall, Los Tres Amigos restaurant in downtown Farmington, and new businesses that have leased space at Drakeshire Plaza.
3. It's safe.While there have been some recent high-profile cases, Farmington is a safe community. The Money magazine report cites a rate of 1 personal crime incident and and 15 property crime incidents per 1,000 residents. The Public Safety department's 2012 annual report shows a decrease in the most serious crimes.
4. The houses are affordable.Farmington's median home price, $118,525 is the lowest among the top 50 cities on Money magazine's list. In fact, it is less than a third of the median home price in Sharon, MA, which is at the top of the list.
5. People are generous.More than 330 volunteers keep events like Art on the Grand, the Farmington Farmers and Artisans Market, Founders Festival and Harvest Moon going–and that's just one of the ways people give of their time and talents in Farmington.
What's the best thing about living in Farmington? Tell us in a comment on this story.