Whitehorse was recently named Canada’s best small city to live in by MoneySense magazine.

The ranking of the list of 47 municipalities with fewer than 25,000 people was based mostly on economic factors.

"We look at discretionary income and Whitehorse is number one at that measure," said Sarah Efron, managing editor with MoneySense. "We also look at new cars on the road, that's sort of an indicator that people are confident in the local economy, and it was also number one."

Whitehorse also scored well in controlled growth, arts, culture and recreation, low taxes and low unemployment. But where the city didn’t rank well was the weather, placing 155th out of the 180 Canadian cities surveyed. The lack of affordable housing was another mark against the city, and crime was high.

"Whitehorse was close to the bottom of our list in terms of safety," said Efron.

Yellowknife came in at number five on the list of smaller cities, and 39th overall among all Canadian cities. Whitehorse finished 12th overall. 

The N.W.T. capital also had poor scores for weather, but ranked first for the number of people who walk or bike to work, and it was the city with the lowest tax rates. It also scored well for the number of doctors. The N.W.T. capital also scored poorly on crime rates and the cost of housing.

Rounding out the top five were Canmore, Alta., Cobourg, Ont., and Port Hope, Ont.