In just about a month, the Class of 2015 will be donning their caps and gowns. But what happens after you walk the stage and retrieve your diploma? Where are the best places for recent college grads to live? Well, I've got good news for: Rent.com figured it all out for you. Their list of the 10 best cities for college graduates might help take some of the guesswork out of what to do with your post-grad life.
Rent.com examined the issue both from the job angle and from the quality of life one, coming up with a list of 10 cities to which college graduates might want to consider moving once they've gained their degrees. Using Indeed.com's Job Trends report and unemployment rates from the Bureau of Labor Statistics, they were able to figure our how many how opportunities each city has; then, using Onboard informatics Lifestyle Index, they took a look at how each city stacks up in terms of nightlife, entertainment, and more. They also pulled rental data from their own database.
Speaking of rent, though, that's the one downside to a lot of the locations on this list: Many of these cities are known for their high rents — rents which might be prohibitively expensive for anyone who's just beginning their career. If you're willing to look in some slightly unexpected places, though, Forbes recently put together a list of the most affordable cities in the country — and although they may not have caché of some of the places on Rent.com's list, they're still full of opportunities for recent college grads. And hey, at least the Class of 2015 is facing the best job market in years, right?
Oh, and if you still can't figure it, Rent.com also put together a quiz to help you determine what you're looking for in your post-grad life. Check out the top five cities below, and head on over to Rent.com to see the full list.
1. Washington, DC
DC took the top slot as much for its low unemployment rate (4.9 percent) and the number of jobs per 1,000 residents (87) as for it Millennial-friendly perks (an excellent food and bar scene, a good public transit system, and a Millennial population of 29 percent). However, given how high the rent is — Rent.com's data cites $3,287 as the median rent for a two-bedroom apartment — you also might consider living slightly outside the city. Almost every 20- and 30-something I know who works in DC lives in Virginia because of the whole rent situation, and they're all quite happy there.
2. Minneapolis-St. Paul, MN
Sure, the Twin Cities can get a little chilly in the winter — but it's also got a low unemployment rate (4.1 percent) and comparatively cheap rents ($1,772 for a two-bedroom), as well as a vibrant arts scene and plenty of activities to keep you occupied. Not too shabby, am I right?
3. Denver, CO
80 jobs for everyone 1,000 residents, an unemployment rate of 4.5 percent, and the city's walkability (Rent.com notes that there are three colleges, three major sports stadiums, and over 300 restaurants in a one-mile radius downtown) all contribute to its clinching of the third slot on the list. Sure, the rent is a little on the higher side — the median is $2,025 for a two-bedroom — but it's still a Millennial-friendly city. Indeed, over a quarter of its population are between the ages of 20 and 34.
4. San Francisco, CA
Not going to lie: I'm a little surprised to see San Francisco on the list, because the median rent for a two-bedroom apartment is a whopping $5,255. I couldn't even afford that now, and I'm definitely no longer a recent grad. But I can still see how the city would be appealing to Millennials; in addition to Silicon Valley, Rent.com notes that it's also a “major financial and banking hub.” Add to that the qualities that also make it one of the quirkiest cities in America, and, well… let's just say living in — or at least near — the area looks like it could potentially be a really fabulous time.
5. Boston, MA
Ah, my home turf! 33 percent of the city's population are between the ages of 20 and 34, which proves how attractive Beantown is for Millennials. It's also got a relatively low unemployment rate of 4.9 percent, 83 jobs per 1,000 residents, and more. Sure, the rents in the city proper are somewhat terrifying ($4,498 for a two-bedroom is the median rate) — but that's why so many younger folk have always flocked to places like Somerville and Brighton. You get all the benefits with significantly more affordable rents.
Head on over to Rent.com to see the full list of all 10 cities. Good luck, job- and apartment-hunters!
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