Canada's top-rated financial magazine Moneysense now rates Yellowknife as the best Northern city to live in.

Yellowknife earned 25th place in the magazine’s list of "best places to live" in Canada. Whitehorse, which Moneysense rated 12th in 2011, plummeted to 85th spot. Iqaluit was not included in the rankings.

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Yellowknife earned 25th place in this year's Moneysense magazine list of best places to live in Canada. (CBC)

"Yellowknife gets an excellent score for biking and walking to work, it gets a high score for days without rain and its economy is a bit stronger, unemployment is around six per cent which is pretty good compared to other cities," said Sarah Efron, deputy editor for Moneysense magazine.

"Incomes are a bit higher so that is enough to edge it up over Whitehorse."

Other factors included in the poll were housing prices, crime stats, and doctor availability.

Whitehorse Deputy Mayor Kirk Cameron, who was born and raised in Yukon, said the magazine's methodology is obviously flawed.

"It really made me cranky today," said Cameron. "I’ve got to question their research team. I look at the ‘best place to retire’ [list] and there’s Winnipeg? Can you imagine Portage and Main in the middle of January, senior citizens wandering around in that intersection and considering that the best place in the country to live as a retiree?

"I think somewhere there’s a disconnect between the kind of facts that they’re trying to pull together for the database and their assessment of what creates quality in a community."

Calgary got the highest rating, followed by St. Albert, Alta., and Burlington, Ont.