San Jose Named Best City For Baby Boomer Entrepreneurs

SAN JOSE, CA -- A study released Tuesday by lending company, Lending Tree, found San Jose best city for baby boomer entrepreneurs. To determine the best American cities for those born between 1946 and 1964, the company considered the average median business incomes and used the percentage of new businesses that were founded by baby boomers.

Lending Tree analysts found that "proves itself to be a solid place for boomers to take the leap into starting a business by faring above average in all three ranking factors."

San Jose – the seat of the Silicon Valley – is by far the best place for boomer entrepreneurs, with a final score of 93.6. In addition to representing high business income, San Jose boasts the largest share of boomer business founders, the study stated. Its average business income is $47,401, the highest amount of all cities examined.

And the boomer entrepreneurs’ annual median business income is $13,602, ranking fifth in that category.
Boomer entrepreneurs are also more common in San Jose. More than 24 percent of San Jose’s new businesses founded in the last five years were run by baby boomers, the highest percentage among all cities.

Topping the list of best cities in second place is San Francisco.
Here are the top 10 cities:
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1. San Jose
2. San Francisco
3. Boston
4. Sacramento
5. Nashville
6. Hartford
7. Houston
8. Austin
9. Los Angeles
10. Memphis

--Image via Shutterstock, Hoa Quach of Patch contributed to this article.