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Boulder, Colorado, won top billing. Read on to see which other college towns made the cut.Shutterstock/Tang Yan Song

Boulder, Colorado, is the top-ranked college town in the US, according to a new list from the American Institute for Economic Research.

The city of roughly 200,000 (for its metro area population) earned the top spot thanks to its accessibility — more than 20% of commuters take public transportation or cycle around Boulder Creek Corridor — and diverse and educated population. Boulder also has an active bar-and-restaurant scene, with plenty of coffee shops and microbreweries.

AIER compiled its list using nine economic, demographic, and quality-of-life factors. It defines college towns as having fewer than 250,000 residents.

Aside from the overall ranking, we included cities' individual scores for noteworthy metrics including rent, earnings, and bars and restaurants. We chose the one metric that the city scored the highest in out of the nine.

Scroll through to find out the 20 best college towns.

20. Bellingham, Washington — home of Western Washington University

20. Bellingham, Washington — home of Western Washington University
Curtis Cronn / Flickr

Metro area population: 208,832

College student population in the metro area: 24,926

No. 4 in arts and entertainment

19. La Crosse, Wisconsin — home of the University of Wisconsin at La Crosse

19. La Crosse, Wisconsin — home of the University of Wisconsin at La Crosse
Wikipedia

Metro area population: 136,824

College student population in the metro area: 16,081

No. 1 in youth unemployment

18. Jacksonville, North Carolina — home of the University of Mount Olive

18. Jacksonville, North Carolina — home of the University of Mount Olive
Jimmy Emerson, DVM / Flickr

Metro area population: 186,684

College student population in the metro area: 15,297

No. 3 in rent

17. Blacksburg, Virginia — home of Virginia Polytechnic Institute (Virginia Tech)

17. Blacksburg, Virginia — home of Virginia Polytechnic Institute (Virginia Tech)
Mohaas05 via Wikipedia

Metro area population: 180,649

College student population in the metro area: 41,438

No. 3 in bars and restaurants

16. Rochester, Minnesota — home of the University of Minnesota at Rochester

16. Rochester, Minnesota — home of the University of Minnesota at Rochester
Facebook/Visit Rochester, Minnesota

Metro area population: 170,519

College student population in the metro area: 11,363

No. 4 in rent

15. State College, Pennsylvania — home of Pennsylvania State University

15. State College, Pennsylvania — home of Pennsylvania State University
Flickr / Amir Nejad

Metro area population: 159,341

College student population in the metro area: 39,577

No. 5 in bars and restaurants

14. Athens, Georgia — home of the University of Georgia

14. Athens, Georgia — home of the University of Georgia
Richardelainechambers via Wikimedia Commons

Metro area population: 159,341

College student population in the metro area: 39,577

No. 5 in bars and restaurants

13. Fargo, North Dakota — home of North Dakota State University

13. Fargo, North Dakota — home of North Dakota State University
Omar David Sandoval Sida via Wikipedia

Metro area population: 167,166

College student population in the metro area: 21,346

No. 1 in rent

12. Lafayette, Indiana — the metropolitan area is home to Purdue University

12. Lafayette, Indiana — the metropolitan area is home to Purdue University
Qsthomson via Wiki

Metro area population: 212,704

College student population in the metro area: 44,252

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No. 2 in innovation

11. Charlottesville, Virginia — home of the University of Virginia

11. Charlottesville, Virginia — home of the University of Virginia
Experience Charlottesville/Facebook

Metro area population: 227,179

College student population in the metro area: 26,327

No. 3 in youth unemployment

10. Bloomington, Illinois — home of Illinois State University

10. Bloomington, Illinois — home of Illinois State University
Todd Ryburn via Wikimedia Commons

Metro area population: 189,628

College student population in the metro area: 25,689

No. 2 in arts and entertainment

9. Columbia, Missouri — home of the University of Missouri

9. Columbia, Missouri — home of the University of Missouri
Amanda Macias/Business Insider

Metro area population: 172,738

College student population in the metro area: 32,287

No. 4 in labor force

8. Manhattan, Kansas — home of Kansas State University

8. Manhattan, Kansas — home of Kansas State University
Wikipedia

Metro area population: 98,643

College student population in the metro area: 17,537

No. 5 in labor force

7. College Station, Texas — home of Texas A&M University

7. College Station, Texas — home of Texas A&M University
Pmelton87

Metro area population: 242,453

College student population in the metro area: 58,018

No. 1 in bars and restaurants

6. Bloomington, Indiana — home of Indiana University at Bloomington

6. Bloomington, Indiana — home of Indiana University at Bloomington
Yahala via Wikipedia

Metro area population: 163,726

College student population in the metro area: 41,211

No. 2 bars and restaurants

5. Iowa City, Iowa — home of the University of Iowa

5. Iowa City, Iowa — home of the University of Iowa
University of Iowa/Facebook

Metro area population: 164,043

College student population in the metro area: 33,358

No. 3 in college educated

4. Ithaca, New York — home of Cornell University and Ithaca College

4. Ithaca, New York — home of Cornell University and Ithaca College
Mary Robnett/Business Insider

Metro area population: 104,592

College student population in the metro area: 28,164

No. 2 in college educated

3. Flagstaff, Arizona — home of Northern Arizona University

3. Flagstaff, Arizona — home of Northern Arizona University
Flagstaff Convention and Visitors Bureau

Metro area population: 138,039

College student population in the metro area: 24,832

No. 1 in diversity

2. Champaign-Urbana, Illinois — home of the University of Illinois at Urbana-Champaign

2. Champaign-Urbana, Illinois — home of the University of Illinois at Urbana-Champaign
University of Illinois at Urbana-Champaign

Metro area population: 207,584

College student population in the metro area: 47,895

No. 1 in city access

1. Boulder, Colorado

1. Boulder, Colorado
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Flickr / Let Ideas Compete

Metro area population: 199,129

College student population in the metro area: 31,958

No. 1 in innovation