I faced a similar choice last year. I was accepted to Princeton, MIT, Rice, Georgia Tech, and the University of Rochester; I am now going to Rochester.
For me, an important consideration was whether I would be an average student or an exceptional student at the college. This may sound petty and shallow, but I think I would be unhappy and unmotivated if I were not a top student at the college that I went to. Here at Rochester, I am the top scoring freshman in my courses and math competitions, but had I gone to Princeton or MIT, I would probably be an average math student; certainly not exceptional (this can verified from previous Putnam Competition results). Of course, you may have an opposite personality to mine. Perhaps you are more motivated if you are not already a top student.
I think you should also consider whether you would have more opportunities as a top student at a second rank university, or as an average student at a first rank university. Some people say that you get a lot more academic and research opportunities by going to a first rank university, but I don’t agree. Certainly, the average student at a first rank university will do more research than the average student at a second rank university. But remember that by going to a second rank university, you will not be an average student.
Of course, there are other important considerations. The points I mentioned here are those that I consider important, but haven’t been mentioned yet.
I’m a college student in Rochester, and I will be home (in Hong Kong) for spring break, from March 6 to March 13. But… I won’t be able to make it on March 12 because I have already committed to something else for that day. Any day from Monday to Friday would work better for me, but it’d probably be inconvenient for everyone else.