A new study by Fortune Small Business magazine and the Kauffman Foundation ranks the Raleigh-Cary metropolitan area #3 among the nation’s largest metro areas.

The study’s profile of Raleigh-Cary cites the area’s high standard of living and well-educated employee base. In addition, housing is more affordable compared with competing regions in the technology market.

The Research Triangle Park, and the presence of three major research universities — North Carolina State, North Carolina and Duke — also strengthened the ranking, representing public and private assets having global influence.

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