Boston University students were shocked to hear that their beloved city, home to almost 30 colleges and universities, ranked only as the third best college city in America this year.

The Boston Business Journal, in last week’s issue, ranked Boston as the third best college city, following New York in first place and San Francisco in second.

The rankings, compiled by the American Institute of Economic Research, were based on factors such as academic environment, quality of life and professional opportunities. Boston ranked strongest in the student diversity and research capacity subcategories but did poorly in the entrepreneurial activity category.

‘When most people think of college towns, they don’t think of San Francisco or New York first,’ BU spokesman Colin Riley said. ‘Each has its own attraction, but Boston is where the presence and contribution of students is most evident.’

Bostonvisit.com advertises Boston as ‘America’s College Town,’ providing guides on the best places to eat and sights to see. The site, geared towards prospective college students and their families, says it aims to help them choose a college in Boston.

Todd Hoffman, spokesman for Collegia, the company in charge of the website, said this year’s survey chose to look at different factors than the previous two editions.

‘It may have to do with the current economic status, which may affect the status of the survey results,’ Hoffman said. ‘We must look at these as guidelines, not absolute definitions.’

Boston is home to the largest student population in the world, including the largest number of out-of-state and foreign students, according to the website.’

‘The city of Boston is the number one pick for a quarter of a million students,’ Riley said. ‘There are many different variables and many different offerings that attract students.’

BU is one of 19 colleges and universities partnered with Bostonvisit.com to help accommodate the nearly 100,000 students arriving from out-of-state. According to the website, the participating schools are responsible for 90,000 of those 100,000 out-of-state visiting families.

College of General Studies sophomore John DeFeliz said there are a lot of opportunities for students in Boston.

‘Boston is deserving of being in the top three,’ DeFeliz said. ‘There’s got to be something drawing people here.’

Almost 78 percent of respondents to a 2008 graduate student poll rated location first in the significance of why they chose the college or university they attended, according to a Jan.’ U.S. News and World Report article.

College of Arts and Sciences junior Adam Salman said his favorite thing about Boston is the city feel without the overwhelming size of New York City.

‘It is a city that has a lot of interesting history,’ he said. ‘But at the same time is fairly modern, so it is an old city with a new age feel.’

Salman said he takes advantage of the free or discounted events for students, such as the New England Aquarium.

‘Whether it is tickets to Red Sox or Celtics games or a trip to Haymarket for their Farmer’s Market, it’s all great,’ he said.

CAS junior Sang Nao said he enjoys going to school in Boston because there are a lot of colleges close to each other, allowing for a lot of competition in sports and academics.

‘Being close to each other increases the dynamic and diversity.’ Nao said.