SCHERERVILLE | This thriving town of 25,500 residents is among Money Magazine's Top 100 Best Places to Live.

Ranked at No. 71 nationwide, Schererville is the only Indiana community to make the magazine's annual list of most desirable communities.

CNNMoney.com reported this year's list focused on smaller places that offered the best combination of economic opportunity, good schools, safe streets, things to do and a sense of community.

The fast-growing town, with a median home price of $234,837, was lauded for its shopping opportunities, restaurants and "a bunch of parks -- 23 of them -- where families can hike, picnic and barbecue." The magazine also pointed to the town's community-based events, such as its four-decade-old corn roast and proximity to both Indiana's steel mills and Chicagoland's white collar jobs.

Bob Trujillo, president of the Schererville Chamber of Commerce, said the town is an active, family-based community with high standards. He credited the town's schools, central location and many community-sponsored events for the magazine's recognition.

Trujillo said as an example, the Chamber-sponsored annual Mardi Graz and fashion show is assisted by the schools, which in return receive cash proceeds.

"It's local money going back into the school city," he said.

Clerk-Treasurer Janice Malinowski said the town's fabled, family owned restaurant, Teibel's, shouldn't be overlooked for its contribution.

Malinowski said the town's location, stable housing, low tax rate and excellent education system bring a lot to the table in terms of quality of life for young families.