Here’s some advice for female entrepreneurs looking for the best place to start a business: “Go West, young woman.”
An analysis by NerdWallet focused on factors for small-business success — including financing opportunities, local economic health and business climate — and found that seven of the top 10 places for women business owners are in Colorado and California. The data from the U.S. Census Bureau and the Small Business Administration are for 174 U.S. metro areas.
See our infographic below for more details about women entrepreneurs in the U.S.
Of course, location doesn’t necessarily guarantee success. A thriving small business also requires a skilled workforce and access to financing, both of which are vital to getting started and expanding operations. To learn more about financing, take a look at NerdWallet’s comparison of small-business loans.
Key takeaways
Golden State’s golden opportunities. Four of the top 10 metro areas for women entrepreneurs are in California. All four cities have more women-owned businesses per 100 residents and higher annual incomes for women compared with the national average.
Colorado makes a strong showing. Three of the metro areas are in Colorado, including top-ranked Boulder. All three, including Denver and Fort Collins, have above-average levels of women’s entrepreneurship and small-business loan rates.
Follow the money. Women entrepreneurs in the top 10 cities on average received 24.36 SBA-guaranteed loans per 100,000 residents, which is well above the national average of 14.56.
Best metro areas for women entrepreneurs
1. Boulder, Colorado
Women-owned businesses per 100 residents: 4.42 (rank: No. 1)
SBA-guaranteed loans per 100,000 residents: 41.17 (rank: No. 1)
2. Bridgeport-Stamford-Norwalk, Connecticut
Average SBA-guaranteed loan: $1,654,405 (rank: No. 1)
Median annual income for women: $57,377 (rank: No. 2)
3. Denver-Aurora-Lakewood, Colorado
Women-owned businesses per 100 people: 3.22 (rank: No. 13)
Median annual income of women as a percentage of men’s: 87% (rank: No. 12)
4. Santa Cruz-Watsonville, California
Women-owned businesses per 100 residents: 3.95 (rank: No. 3)
Average SBA-guaranteed loan: $806,714 (rank: No. 5)
5. Santa Rosa, California
Women-owned businesses per 100 residents: 3.43 (rank: No. 6)
Median annual income of women as a percentage of men: 89% (rank: No. 7)
6. San Luis Obispo-Paso Robles-Arroyo Grande, California
SBA-guaranteed loans per 100,000 residents: 37.26 (rank: No. 2)
Women-owned businesses per 100 residents: 3.16 (rank: No. 18)
7. San Francisco-Oakland-Hayward, California
Median annual income for women: $56,381 (rank: No. 4)
Women-owned businesses per 100 residents: 3.41 (rank: No. 8)
8. Minneapolis-St. Paul-Bloomington, Minnesota and Wisconsin
Median annual income for women: $46,895 (rank: No. 17)
SBA-guaranteed loans per 100,000 residents: 26.49 (rank: No. 17)
9. Portland-South Portland, Maine
Women-owned businesses per 100 residents: 3.42 (rank: No. 7)
SBA-guaranteed loans per 100,000 residents: 21.58 (rank: No. 31)
10. Fort Collins, Colorado
Women-owned businesses per 100 residents: 3.58 (rank: No. 4)
SBA-guaranteed loans per 100,000 residents: 27.77 (rank: No. 16)
Looking for financing to start or grow your small business? Compare your options for small-business loans here:
Best metro areas for women entrepreneurs
Rank | Metro area | Average revenue for women-owned businesses | Women-owned businesses per 100 people | Women's median annual income | Median annual income of women as a percentage of men's income | Unemployment rate | SBA-guaranteed loans per 100,000 residents | Average SBA-guaranteed loan |
---|---|---|---|---|---|---|---|---|
1 | Boulder, CO | $91,050 | 4.42 | $48,223 | 77% | 5.9% | 41.17 | $217,912 |
2 | Bridgeport-Stamford-Norwalk, CT | $153,161 | 3.48 | $57,377 | 80% | 7.9% | 11.74 | $1,654,405 |
3 | Denver-Aurora-Lakewood, CO | $170,068 | 3.22 | $45,543 | 87% | 4.7% | 24.43 | $255,120 |
4 | Santa Cruz-Watsonville, CA | $138,676 | 3.95 | $47,412 | 87% | 6.4% | 15.82 | $806,714 |
5 | Santa Rosa, CA | $115,113 | 3.43 | $46,681 | 89% | 7.0% | 21.59 | $445,480 |
6 | San Luis Obispo-Paso Robles-Arroyo Grande, CA | $109,853 | 3.16 | $40,698 | 72% | 5.7% | 37.26 | $207,772 |
7 | San Francisco-Oakland-Hayward, CA | $161,374 | 3.41 | $56,381 | 83% | 6.4% | 15.72 | $538,106 |
8 | Minneapolis-St. Paul-Bloomington, MN-WI | $155,950 | 2.82 | $46,895 | 84% | 4.8% | 26.49 | $274,713 |
9 | Portland-South Portland, ME | $92,241 | 3.42 | $40,635 | 80% | 4.7% | 21.58 | $416,118 |
10 | Fort Collins, CO | $100,198 | 3.58 | $37,795 | 78% | 5.6% | 27.77 | $204,374 |
11 | Lancaster, PA | $597,554 | 2.40 | $36,272 | 73% | 4.2% | 12.00 | $215,430 |
12 | North Port-Sarasota-Bradenton, FL | $130,517 | 2.99 | $35,483 | 85% | 5.6% | 14.42 | $477,229 |
13 | San Jose-Sunnyvale-Santa Clara, CA | $212,350 | 2.63 | $57,453 | 74% | 6.4% | 12.90 | $625,318 |
14 | Green Bay, WI | $192,606 | 1.80 | $37,476 | 81% | 5.1% | 19.39 | $278,406 |
15 | Seattle-Tacoma-Bellevue, WA | $169,103 | 2.67 | $46,990 | 76% | 5.8% | 19.86 | $263,062 |
16 | Cedar Rapids, IA | $136,144 | 2.38 | $39,015 | 76% | 3.3% | 18.19 | $505,009 |
17 | Lincoln, NE | $199,560 | 2.45 | $34,667 | 80% | 4.0% | 24.67 | $164,860 |
18 | Salinas, CA | $240,151 | 2.53 | $36,228 | 88% | 6.4% | 9.97 | $855,151 |
19 | Salt Lake City, UT | $155,089 | 2.53 | $35,414 | 71% | 4.9% | 32.43 | $263,212 |
20 | Honolulu, HI | $146,024 | 2.62 | $41,161 | 81% | 5.2% | 30.55 | $53,908 |
21 | Boston-Cambridge-Newton, MA-NH | $152,151 | 2.91 | $51,784 | 78% | 6.3% | 28.04 | $190,942 |
22 | Austin-Round Rock, TX | $144,269 | 2.84 | $41,334 | 82% | 4.7% | 16.98 | $420,072 |
23 | Los Angeles-Long Beach-Anaheim, CA | $194,709 | 3.18 | $41,127 | 90% | 8.2% | 20.14 | $417,302 |
24 | Naples-Immokalee-Marco Island, FL | $120,446 | 3.25 | $36,334 | 84% | 6.5% | 13.19 | $112,809 |
25 | Washington-Arlington-Alexandria, DC-VA-MD-WV | $153,319 | 3.31 | $57,371 | 85% | 6.4% | 6.55 | $572,369 |
26 | Reno, NV | $195,801 | 2.69 | $37,765 | 87% | 7.6% | 20.47 | $352,467 |
27 | Milwaukee-Waukesha-West Allis, WI | $166,698 | 2.10 | $41,180 | 79% | 6.4% | 29.07 | $231,851 |
28 | New York-Newark-Jersey City, NY-NJ-PA | $156,551 | 3.21 | $49,230 | 86% | 7.4% | 11.88 | $384,470 |
29 | Madison, WI | $159,893 | 2.28 | $42,838 | 83% | 5.0% | 23.19 | $193,592 |
30 | Miami-Fort Lauderdale-West Palm Beach, FL | $114,707 | 4.30 | $34,254 | 85% | 8.2% | 11.94 | $375,019 |
31 | Manchester-Nashua, NH | $167,662 | 2.46 | $42,903 | 70% | 5.4% | 21.72 | $116,031 |
32 | Atlanta-Sandy Springs-Roswell, GA | $167,330 | 3.33 | $41,118 | 82% | 7.9% | 16.11 | $487,665 |
33 | Columbus, OH | $151,510 | 2.66 | $41,250 | 82% | 5.6% | 32.79 | $209,134 |
34 | San Diego-Carlsbad, CA | $150,510 | 2.92 | $45,086 | 84% | 7.5% | 18.29 | $336,528 |
35 | Portland-Vancouver-Hillsboro, OR-WA | $161,730 | 2.80 | $42,090 | 80% | 7.2% | 18.66 | $261,495 |
36 | Colorado Springs, CO | $107,452 | 3.15 | $38,710 | 76% | 7.1% | 19.65 | $174,390 |
37 | Wilmington, NC | $134,213 | 3.21 | $37,160 | 83% | 7.6% | 9.54 | $579,308 |
38 | Albany-Schenectady-Troy, NY | $149,472 | 2.41 | $45,200 | 85% | 5.9% | 15.91 | $292,938 |
39 | Omaha-Council Bluffs, NE-IA | $187,811 | 2.22 | $38,988 | 82% | 4.7% | 16.03 | $147,468 |
40 | Boise City, ID | $104,230 | 2.53 | $32,110 | 70% | 5.2% | 33.18 | $180,137 |
41 | Salisbury, MD-DE | $156,255 | 2.02 | $37,081 | 81% | 7.0% | 6.41 | $605,968 |
42 | Grand Rapids-Wyoming, MI | $153,333 | 2.46 | $37,253 | 78% | 6.0% | 36.78 | $117,889 |
43 | Pittsburgh, PA | $180,717 | 2.05 | $40,231 | 78% | 6.2% | 14.01 | $347,971 |
44 | Tulsa, OK | $193,513 | 2.47 | $34,699 | 75% | 5.3% | 14.63 | $281,737 |
45 | Orlando-Kissimmee-Sanford, FL | $182,116 | 3.04 | $33,920 | 84% | 8.0% | 11.16 | $344,855 |
46 | Crestview-Fort Walton Beach-Destin, FL | $131,220 | 2.83 | $32,318 | 79% | 5.4% | 16.28 | $317,590 |
47 | Raleigh, NC | $153,872 | 2.75 | $41,888 | 80% | 5.7% | 8.69 | $376,202 |
48 | Myrtle Beach-Conway-North Myrtle Beach, SC-NC | $142,089 | 2.65 | $31,356 | 83% | 7.2% | 4.79 | $520,145 |
49 | Cape Coral-Fort Myers, FL | $117,267 | 2.91 | $35,023 | 94% | 7.2% | 11.33 | $390,634 |
50 | Asheville, NC | $112,049 | 3.22 | $33,351 | 81% | 5.2% | 7.46 | $580,412 |
51 | Akron, OH | $156,070 | 2.10 | $35,956 | 71% | 7.1% | 30.83 | $120,070 |
52 | Lubbock, TX | $128,237 | 2.09 | $32,678 | 80% | 4.4% | 16.38 | $292,666 |
53 | Dallas-Fort Worth-Arlington, TX | $165,476 | 2.76 | $41,018 | 83% | 6.0% | 16.71 | $342,934 |
54 | Scranton--Wilkes-Barre--Hazleton, PA | $218,862 | 1.72 | $35,633 | 81% | 6.8% | 10.72 | $148,239 |
55 | Houston-The Woodlands-Sugar Land, TX | $197,179 | 2.70 | $40,575 | 80% | 5.7% | 14.87 | $396,006 |
56 | Jacksonville, FL | $158,769 | 2.50 | $36,670 | 79% | 8.4% | 14.80 | $295,173 |
57 | Charleston-North Charleston, SC | $125,692 | 2.66 | $38,047 | 81% | 6.5% | 9.62 | $451,263 |
58 | Cleveland-Elyria, OH | $148,143 | 2.26 | $39,823 | 78% | 8.4% | 29.51 | $120,235 |
59 | Kennewick-Richland, WA | $130,884 | 1.96 | $35,909 | 69% | 5.3% | 19.69 | $104,080 |
60 | Baltimore-Columbia-Towson, MD | $132,946 | 2.88 | $49,865 | 82% | 6.8% | 11.59 | $296,215 |
61 | Tampa-St. Petersburg-Clearwater, FL | $151,345 | 2.80 | $36,583 | 84% | 7.3% | 11.73 | $340,142 |
62 | Spokane-Spokane Valley, WA | $114,221 | 2.09 | $36,993 | 78% | 6.3% | 20.66 | $315,584 |
63 | Providence-Warwick, RI-MA | $136,352 | 2.33 | $42,049 | 82% | 7.4% | 24.92 | $136,768 |
64 | Spartanburg, SC | $489,206 | 2.00 | $31,682 | 77% | 6.9% | 4.04 | $464,423 |
65 | Olympia-Tumwater, WA | $88,848 | 2.51 | $45,847 | 82% | 7.8% | 13.54 | $340,472 |
66 | Chicago-Naperville-Elgin, IL-IN-WI | $162,675 | 2.85 | $42,717 | 79% | 8.4% | 14.94 | $355,802 |
67 | Lexington-Fayette, KY | $151,566 | 2.45 | $36,211 | 85% | 6.7% | 14.37 | $101,435 |
68 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $180,276 | 2.29 | $46,133 | 82% | 8.1% | 12.54 | $478,240 |
69 | Nashville-Davidson--Murfreesboro--Franklin, TN | $236,314 | 2.66 | $37,736 | 82% | 6.3% | 8.03 | $545,723 |
70 | Ogden-Clearfield, UT | $280,694 | 2.20 | $35,879 | 67% | 5.4% | 22.82 | $248,897 |
71 | Oxnard-Thousand Oaks-Ventura, CA | $178,274 | 2.89 | $42,271 | 77% | 8.0% | 13.71 | $391,080 |
72 | Bremerton-Silverdale, WA | $105,180 | 2.61 | $42,319 | 69% | 6.2% | 16.13 | $228,502 |
73 | Indianapolis-Carmel-Anderson, IN | $156,464 | 2.36 | $38,608 | 78% | 7.1% | 22.92 | $252,539 |
74 | Buffalo-Cheektowaga-Niagara Falls, NY | $128,946 | 1.74 | $39,133 | 80% | 6.0% | 20.33 | $127,800 |
75 | Eugene, OR | $111,470 | 2.91 | $36,251 | 83% | 7.5% | 12.28 | $237,302 |
76 | Phoenix-Mesa-Scottsdale, AZ | $178,027 | 2.14 | $38,584 | 84% | 6.9% | 15.84 | $310,677 |
77 | Santa Maria-Santa Barbara, CA | $143,591 | 2.79 | $40,291 | 88% | 6.8% | 9.08 | $400,060 |
78 | Ann Arbor, MI | $98,717 | 3.09 | $46,915 | 78% | 5.8% | 13.45 | $255,852 |
79 | Rochester, NY | $111,669 | 2.30 | $39,055 | 83% | 7.0% | 26.21 | $143,837 |
80 | Oklahoma City, OK | $169,193 | 2.75 | $35,138 | 76% | 5.6% | 10.70 | $241,016 |
81 | Kansas City, MO-KS | $171,235 | 2.47 | $39,482 | 77% | 5.5% | 9.47 | $294,487 |
82 | Savannah, GA | $126,485 | 3.01 | $34,426 | 75% | 8.7% | 16.37 | $342,656 |
83 | Tallahassee, FL | $123,884 | 2.55 | $36,882 | 90% | 10.2% | 5.07 | $605,147 |
84 | Jackson, MS | $124,973 | 2.62 | $35,013 | 81% | 7.6% | 0.35 | $1,237,000 |
85 | Canton-Massillon, OH | $103,830 | 2.09 | $33,029 | 76% | 6.5% | 32.68 | $91,733 |
86 | Cincinnati, OH-KY-IN | $181,369 | 2.19 | $40,661 | 80% | 6.8% | 21.95 | $168,080 |
87 | Durham-Chapel Hill, NC | $106,633 | 3.04 | $41,938 | 92% | 6.9% | 6.26 | $225,997 |
88 | Greeley, CO | $97,553 | 2.40 | $36,959 | 73% | 5.3% | 14.05 | $410,659 |
89 | Trenton, NJ | $162,583 | 2.45 | $51,091 | 84% | 8.3% | 12.11 | $210,337 |
90 | Corpus Christi, TX | $136,327 | 2.33 | $31,410 | 69% | 6.1% | 7.89 | $409,931 |
91 | Toledo, OH | $151,342 | 1.88 | $36,283 | 76% | 7.4% | 18.93 | $270,762 |
92 | Duluth, MN-WI | $116,444 | 2.15 | $37,791 | 75% | 5.7% | 16.77 | $145,952 |
93 | Provo-Orem, UT | $106,036 | 2.26 | $33,504 | 64% | 4.7% | 29.68 | $316,784 |
94 | Greensboro-High Point, NC | $147,080 | 2.57 | $35,157 | 86% | 7.0% | 6.16 | $445,283 |
95 | Des Moines-West Des Moines, IA | $115,171 | 2.49 | $42,200 | 81% | 4.5% | 14.06 | $176,911 |
96 | Kalamazoo-Portage, MI | $103,885 | 2.56 | $35,864 | 77% | 7.7% | 18.56 | $392,665 |
97 | Worcester, MA-CT | $159,542 | 2.32 | $46,101 | 82% | 7.1% | 17.52 | $117,668 |
98 | Detroit-Warren-Dearborn, MI | $132,436 | 2.59 | $40,680 | 74% | 9.1% | 29.74 | $138,064 |
99 | Norwich-New London, CT | $127,395 | 2.29 | $49,371 | 88% | 6.4% | 7.67 | $99,071 |
100 | Richmond, VA | $122,511 | 2.28 | $42,065 | 82% | 7.1% | 6.66 | $370,117 |
101 | Youngstown-Warren-Boardman, OH-PA | $173,504 | 2.09 | $32,612 | 73% | 6.9% | 22.59 | $61,265 |
102 | Columbia, SC | $119,312 | 2.14 | $36,269 | 85% | 7.3% | 4.25 | $698,438 |
103 | Sacramento--Roseville--Arden-Arcade, CA | $145,301 | 2.65 | $46,408 | 84% | 8.9% | 18.04 | $285,133 |
104 | Palm Bay-Melbourne-Titusville, FL | $102,867 | 2.61 | $36,671 | 80% | 9.2% | 11.85 | $297,983 |
105 | San Antonio-New Braunfels, TX | $148,723 | 2.43 | $35,065 | 81% | 6.3% | 11.91 | $329,915 |
106 | Fort Wayne, IN | $186,729 | 2.10 | $33,841 | 74% | 6.7% | 17.79 | $191,691 |
107 | Erie, PA | $136,848 | 1.65 | $35,651 | 77% | 6.8% | 9.70 | $149,169 |
108 | Waco, TX | $158,793 | 2.10 | $31,492 | 78% | 4.8% | 11.45 | $421,377 |
109 | Louisville/Jefferson County, KY-IN | $166,777 | 2.33 | $37,030 | 79% | 6.5% | 11.62 | $234,338 |
110 | New Haven-Milford, CT | $143,574 | 2.49 | $49,348 | 86% | 8.8% | 11.26 | $380,127 |
111 | Dayton, OH | $132,886 | 2.19 | $37,342 | 77% | 7.8% | 33.47 | $165,846 |
112 | St. Louis, MO-IL | $185,512 | 2.26 | $39,643 | 76% | 7.1% | 2.53 | $271,548 |
113 | Harrisburg-Carlisle, PA | $136,981 | 1.88 | $40,478 | 81% | 4.9% | 10.16 | $233,160 |
114 | Hartford-West Hartford-East Hartford, CT | $167,962 | 2.28 | $50,055 | 81% | 7.8% | 14.25 | $134,700 |
115 | Peoria, IL | $149,440 | 2.10 | $36,680 | 66% | 6.3% | 10.80 | $364,622 |
116 | Roanoke, VA | $154,196 | 2.20 | $36,826 | 78% | 6.0% | 4.16 | $147,131 |
117 | Gainesville, FL | $133,397 | 2.66 | $36,939 | 83% | 9.2% | 12.45 | $280,197 |
118 | Port St. Lucie, FL | $96,018 | 3.24 | $33,779 | 85% | 8.0% | 9.23 | $269,485 |
119 | Pensacola-Ferry Pass-Brent, FL | $128,932 | 2.53 | $31,782 | 72% | 7.5% | 20.67 | $129,808 |
120 | South Bend-Mishawaka, IN-MI | $100,787 | 2.16 | $32,166 | 76% | 7.6% | 21.61 | $272,187 |
121 | Gulfport-Biloxi-Pascagoula, MS | $163,751 | 2.22 | $31,776 | 74% | 8.6% | 26.16 | $210,221 |
122 | Las Vegas-Henderson-Paradise, NV | $209,923 | 2.42 | $35,574 | 85% | 9.4% | 12.71 | $324,022 |
123 | Wichita, KS | $169,674 | 2.25 | $35,831 | 73% | 5.7% | 7.80 | $369,052 |
124 | Lansing-East Lansing, MI | $86,686 | 2.49 | $40,921 | 84% | 6.8% | 18.92 | $191,905 |
125 | Huntsville, AL | $177,790 | 2.39 | $38,932 | 69% | 7.6% | 13.15 | $167,148 |
126 | Greenville-Anderson-Mauldin, SC | $102,976 | 2.39 | $34,916 | 79% | 7.0% | 8.23 | $378,504 |
127 | Laredo, TX | $151,372 | 2.35 | $26,228 | 74% | 6.5% | 10.12 | $200,633 |
128 | Lynchburg, VA | $137,082 | 1.94 | $34,524 | 82% | 5.0% | 0.78 | $93,500 |
129 | Virginia Beach-Norfolk-Newport News, VA-NC | $180,131 | 2.20 | $36,941 | 76% | 7.4% | 0.99 | $202,000 |
130 | Evansville, IN-KY | $220,153 | 1.95 | $32,537 | 65% | 4.9% | 8.57 | $304,522 |
131 | Atlantic City-Hammonton, NJ | $196,149 | 2.16 | $40,812 | 84% | 11.4% | 10.90 | $216,053 |
132 | Syracuse, NY | $115,598 | 2.20 | $40,688 | 83% | 7.7% | 17.99 | $90,171 |
133 | Bakersfield, CA | $470,416 | 2.10 | $33,375 | 77% | 11.0% | 10.75 | $392,628 |
134 | York-Hanover, PA | $124,332 | 2.32 | $37,747 | 75% | 5.9% | 10.44 | $169,949 |
135 | Charlotte-Concord-Gastonia, NC-SC | $144,093 | 2.73 | $38,089 | 79% | 8.9% | 8.40 | $442,838 |
136 | Tucson, AZ | $133,676 | 2.36 | $34,768 | 83% | 9.1% | 11.75 | $171,055 |
137 | Salem, OR | $136,118 | 2.08 | $35,285 | 86% | 9.4% | 11.63 | $191,736 |
138 | Albuquerque, NM | $156,220 | 2.53 | $36,218 | 86% | 8.9% | 10.05 | $188,467 |
139 | Reading, PA | $248,828 | 2.06 | $37,456 | 78% | 8.7% | 14.75 | $108,097 |
140 | Springfield, MA | $94,296 | 2.41 | $41,813 | 82% | 9.0% | 18.44 | $78,790 |
141 | Amarillo, TX | $98,139 | 2.57 | $32,076 | 69% | 3.7% | 9.17 | $317,283 |
142 | Knoxville, TN | $155,428 | 2.27 | $35,177 | 80% | 7.2% | 7.35 | $287,881 |
143 | Winston-Salem, NC | $147,491 | 2.15 | $34,059 | 81% | 9.0% | 5.65 | $456,634 |
144 | Montgomery, AL | $121,438 | 2.72 | $32,390 | 75% | 9.2% | 7.21 | $946,415 |
145 | Chattanooga, TN-GA | $123,096 | 2.23 | $35,288 | 84% | 7.2% | 11.97 | $427,752 |
146 | Ocala, FL | $98,891 | 2.50 | $31,253 | 86% | 8.6% | 3.54 | $307,925 |
147 | Birmingham-Hoover, AL | $157,346 | 2.49 | $35,818 | 73% | 7.9% | 10.93 | $189,850 |
148 | Vallejo-Fairfield, CA | $143,149 | 2.08 | $47,268 | 87% | 10.0% | 11.60 | $314,708 |
149 | Allentown-Bethlehem-Easton, PA-NJ | $94,871 | 2.22 | $40,061 | 78% | 7.8% | 7.59 | $196,579 |
150 | Fayetteville, NC | $134,417 | 2.04 | $32,003 | 80% | 9.2% | 6.61 | $394,944 |
151 | Davenport-Moline-Rock Island, IA-IL | $162,347 | 2.08 | $35,025 | 69% | 6.4% | 7.85 | $175,626 |
152 | Lakeland-Winter Haven, FL | $144,879 | 1.99 | $32,182 | 83% | 9.1% | 5.36 | $418,185 |
153 | Beaumont-Port Arthur, TX | $138,307 | 2.11 | $31,804 | 64% | 7.2% | 8.91 | $328,844 |
154 | Fresno, CA | $156,249 | 1.92 | $35,674 | 88% | 11.6% | 15.63 | $274,491 |
155 | Mobile, AL | $139,299 | 2.54 | $32,393 | 68% | 7.9% | 9.39 | $279,097 |
156 | Rockford, IL | $133,721 | 2.21 | $36,541 | 72% | 10.7% | 17.23 | $259,064 |
157 | Clarksville, TN-KY | $173,066 | 1.71 | $31,956 | 79% | 9.5% | 9.66 | $138,130 |
158 | Columbus, GA-AL | $76,399 | 2.61 | $33,290 | 91% | 9.1% | 3.84 | $538,400 |
159 | Utica-Rome, NY | $104,467 | 1.74 | $34,599 | 78% | 7.7% | 21.24 | $110,028 |
160 | El Paso, TX | $128,322 | 2.33 | $27,894 | 77% | 8.2% | 8.97 | $182,669 |
161 | Riverside-San Bernardino-Ontario, CA | $168,045 | 2.35 | $37,025 | 81% | 11.5% | 13.71 | $383,577 |
162 | Hagerstown-Martinsburg, MD-WV | $96,454 | 2.05 | $39,303 | 79% | 9.9% | 6.54 | $542,449 |
163 | Hickory-Lenoir-Morganton, NC | $114,022 | 2.11 | $31,159 | 87% | 9.6% | 3.86 | $208,386 |
164 | McAllen-Edinburg-Mission, TX | $104,858 | 2.82 | $27,768 | 86% | 9.3% | 7.58 | $260,717 |
165 | Kingsport-Bristol-Bristol, TN-VA | $146,893 | 2.00 | $31,487 | 75% | 7.4% | 4.21 | $175,769 |
166 | Memphis, TN-MS-AR | $109,799 | 2.45 | $36,317 | 86% | 9.1% | 4.02 | $397,837 |
167 | Stockton-Lodi, CA | $114,587 | 1.90 | $37,958 | 80% | 11.1% | 11.88 | $466,288 |
168 | Augusta-Richmond County, GA-SC | $104,478 | 2.50 | $33,713 | 73% | 9.8% | 7.20 | $240,648 |
169 | Brownsville-Harlingen, TX | $68,715 | 2.22 | $25,985 | 83% | 8.2% | 10.70 | $157,754 |
170 | Modesto, CA | $141,717 | 1.84 | $36,652 | 79% | 13.9% | 8.65 | $485,135 |
171 | Huntington-Ashland, WV-KY-OH | $127,678 | 1.69 | $32,232 | 68% | 7.5% | 4.68 | $100,471 |
172 | Visalia-Porterville, CA | $79,726 | 1.61 | $32,800 | 90% | 8.1% | 9.17 | $230,093 |
173 | Flint, MI | $67,552 | 2.76 | $34,883 | 73% | 11.9% | 12.11 | $249,758 |
174 | Merced, CA | $100,753 | 1.56 | $31,721 | 84% | 14.3% | 9.01 | $444,665 |
Methodology
NerdWallet analyzed 174 U.S. metropolitan areas, each with populations of 250,000 or more. Eleven metro areas without business or loan data were excluded.
Here’s how we calculated the overall score for each location:
Business climate, 45% of the overall score, is based on three metrics from the U.S. Census Bureau’s Survey of Business Owners.
Average revenue per business for women-owned businesses is 15% of the score. A higher average contributed to a higher score.
Percentage of women-owned businesses with paid employees is 15% of the score. A higher percentage contributed to a higher score.
Women-owned businesses per 100 residents is 15% of the score. A higher proportion contributed to a higher score.
Local economic health, 25% of the overall score, is based on three metrics from the U.S. Census Bureau’s American Community Survey.
Median annual income for women is 5% of the score. A higher median income contributed to a higher score.
Median annual income of women as a percentage of the annual income for men is 5% of the score. A higher percentage contributed to a higher score.
Unemployment rate is 15% of the score. A lower rate contributed to a higher score.
Financing opportunities, 30% of the overall score, are based on two metrics from the Small Business Administration and the American Community Survey.
SBA-guaranteed loans per 100,000 residents are 15% of the score. A higher rate contributed to a higher score.
Average size of SBA-guaranteed loans is 15% of the score. Larger average loans contributed to a higher score.
Infographic by Jazeena Pineda.
Image via iStock.
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