THT alum Maury Brown does a ton of in depth research on the top 10 potential new locations for an MLB franchise. One additional factor to consider, however, would be that unless a team is in the west, it would almost certainly require some kind of re-alignment.
With the NL currently carrying two additional teams, it makes sense for the new team to either join the AL or displace an NL team into the AL. Within the AL, the West already has one fewer team than the Central and East. If the team is in the East, it would probably force Toronto into the AL Central and then Kansas City into the AL West. Definitely a bit awkward.