Where to Live if You Just Graduated From College

Where to Live if You Just Graduated From College

A fresh new crop of college graduates has just recently walked across that grand stage in caps and gowns to receive their hard-earned diplomas. It also means that thousands of young graduates are busy looking for a job, and in many cases, a new place to call home. For many job seekers, the location they live in is simply a byproduct of taking a job wherever they can find one. Most college grads don’t have a lot of control over where they end up, depending on the career they’ve chosen. Additionally, some grads end up in locations that are simply too expensive for them to afford. However, if you have the option of choosing where you live and you want to choose the best locations for recent college graduates, then you should consider some of these top locations.

Easier Said Than Done

According to a recent study by Indeed and Trulia, there are certain places in the country that are much more recent-grad-friendly than others. In other words, these locations are more likely to have the best combination of typical jobs for new graduates and affordable living options. The overall conclusion of the study is that finding this type of set-up is anything but easy. That’s due in large part to the fact that many of the better-paying jobs for recent college graduates happen to be located in markets that are too expensive for them to live in. However, locations that offer the best of both worlds do still exist.

Diamonds in the Rough

According to the study from Indeed and Trulia, some of the tops spots included Baltimore, Seattle, Dayton, Hartford, Detroit, and Pittsburgh. Meanwhile, Money Magazine tweaked the results and eliminated the locations in which less than 10 percent of the housing market was accessible to recent college graduates. They ranked them in order of the median monthly income. Based on those factors, the number one spot for new college grads is the Houston-Woodlands-Sugar Land, Texas area, with a monthly income of $3,188 and 18.4 percent of its listings being affordable to recent grads. Dallas-Fort Worth-Arlington came in second with an average monthly income of $2,925. Others in the top ten are listed, in order 3-10:

• Hartford, CT – $2,890
• Baltimore-Columbia-Towson, MD – $2882
• Kansas City, MO – $2,753
• Jacksonville, FL – $2,724
• Chicago, IL; Naperville, IN; Elgin, WI – $2,713
• Des Moines, IA – $2,713
• Philadelphia, PA – $2,635
• Charlotte, NC – $2,635
Choose One or the Other
There are some viable options available, but unfortunately, most college graduates don’t have the luxury of choosing where to live, as many have to take a job wherever they can find one. That also means, in many cases, recent college grads have to choose between a steady, sustainable paycheck or a nice roof over their heads.

We hope you found this article about “Where to Live if You Just Graduated From College” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

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