When does taking a job feel like settling?

I work in higher education and am currently applying for jobs with different colleges. This year I have had a lot of great interviews, but no offers.

There is one college in particular that I had an interview with and it seemed like they were more interested in me than I was in them. I talked to my boss about it and he has since really tried to sell me on this is the right job for me because it’s close to a major city I could see myself in, and I could take over the department after the current head retires.

The thing is, it’s about 3 hours away from any major city and to take over as department head, I would need a higher degree that the college would not provide financial assistance towards. So I’m not really turned on by this job anymore aside from it would pay more.

I haven’t had a lot of luck with other institutions so I feel like this is the best I’ll be able to do. But I feel like my gut is wholeheartedly disagreeing. So would this be settling?