Brookline, MA: #3 Most Educated City in the US
This is what I call home... good ol' Brookline!
http://money.cnn.com/magazines/moneymag/bplive/2006/top25s/educated.html
I never really trust these things as they tend to be a little subjective. However, a simple measurement such as this (education) as % of the total population of the city is pretty straight forward (as opposed to income, which doesn't take into consideration income distribution, quality of life, crime, etc)