Every year NerdWallet, an online financial evaluation tool, generates a list of the best cities for college graduates to live in. This year, the 100-city list is back with statistics such as job availability, cost of living and demographic type. Don’t let the top 10 list discourage you, though. It’s very possible to find success in St. Petersburg, which ranked #76.
Apparently, this year is expected to be the best job market for graduates since the Great Recession, according to a 5,700 survey of employers by Michigan State University.
Fingers crossed.
- Arlington, Virginia
Arlington tops the list because of its significant population of people over 25 who have bachelor’s degrees with 71 percent, the highest of the list. This is also a great city to work in if you’re interested in business, science and the arts. Though annual salaries for degree-holders is high in Arlington (the median for workers 25 and older is over $70,000), don’t expect living there to be cheap. NerdWallet found that the city’s median rent is one of the highest out of the 100 they surveyed.
- Madison, Wisconsin
The capital of Wisconsin is full of young folks. About a quarter of the city’s population is between 20 and 29 years old. There are tons of apartments right in the heart of downtown Madison, too. So if you want to be surrounded by peers, Madison is for you. Unless you hate cheese.
- Washington, D.C.
This one’s a no-brainer if you want to work in government; 26 percent of the city’s population does, according to the U.S. Census Bureau’s American Community Survey. The reason why the nation’s capital has made NerdWallet’s list four years in a row? Jobs. But you don’t have to be interested in politics, 60 percent of <> hold positions in business, science, art or management. If you go, say hey to Obama for me.
- Boston, Massachusetts
Similar to Madison, Boston is filled to the brim with 20-somethings. The numerous universities scattered throughout the city, such as MIT, Harvard and Northeastern, have impacted the area’s younger age average. The academic institutions have also boosted Boston’s economy by serving as both employer and talent source for the city’s booming tech industry. There’s also Fenway Park – and Samuel Adams.
- Minneapolis, Minnesota
Cheap rent is the main reason to pick Minneapolis. While earnings in Minneapolis are lower than most cities in this list ($46,837), the low cost of living makes up for it. On average, rent runs about 22 percent of residents’ income. Pair that with Minneapolis’ super low unemployment rate – barely over 3 percent in December – and you’ll have tons of money to spend in that fancy mall of theirs.
- Seattle, Washington
For those of you who want to get as far away as possible, be pleased to know that Seattle is a great city for college grads. Residents tend to average a decent salary of about $57,000 a year and over half of the 25-and-older population hold at least a bachelor’s degree. As a bonus, you’ll be able to admire that funky Space Needle every day.
- Pittsburgh, Pennsylvania
You don’t have to have a passion for metal work to find Pittsburgh an attractive place to check out after graduation. The Steel City has the lowest average rent of any city in the list and has a steadily increasing population of college graduates, with young adults making up 24 percent of the population.
- Austin, Texas
Everything’s bigger in Texas, including the amount of available jobs. Well…in Austin, at least. Between 2014 and 2015, Austin’s metropolitan area alone added nearly 35,000 new jobs – a job growth rate of 3.8 percent, according to the Austin Chamber of Commerce.
Need more convincing? Take Austin’s vibrant music and arts scene, the downtown University of Texas campus, and a 2015 unemployment rate of 3.1 percent (below the national average of 5 percent) and you have a pretty amazing post-graduate spot.
- Atlanta, Georgia
While Atlanta’s residents pay a relatively low price for rent, at 22.9 percent of the median income, the real draw for choosing Georgia’s capital is the opportunity to climb the ladder of a Fortune 500 company. The city has the third-highest concentration of Fortune 500 companies –13 in total – including Coca-Cola, UPS and SunTrust Banks.
- San Francisco, California
If you happen to find yourself working in the other “Bay Area,” you’ll likely be earning a nice paycheck. College grads with a bachelor’s degree average about $68,000 per year. Nice! But don’t get too excited – living in San Francisco is costly, with 28 percent of your paycheck going toward rent.
To see NerdWallet’s full top 100 cities for college graduates, visit: http://nerd.me/1XZUeKP
