Seattle, Detroit, Baltimore Best for Recent Grads
For recent college graduates, Seattle, Detroit, Baltimore, and Pittsburgh are some of the country’s best places to live, according to new Trulia research released on Wednesday. Trulia used real estate listings on its site, as well as job postings on Indeed.com, to determine the “sweet spots” that offer both good jobs (ones appropriate for recent graduates) and in-budget housing (properties that a recent graduate could presumably afford).
About 6 percent of young college graduates moved locations for a new job last year—more than four times the amount of all adults in general.
“These educated young adults are particularly prone to move for a job or a job search,” Trulia reported. “Whereas just 1.4 percent of all adults moved in the past year to take or look for a new job, 6.2 percent of young college grads did.”
Ultimately, Trulia found, the markets with the most job opportunities and the highest earning potential are the most out-of-budget for recent graduates. These areas include Washington, D.C., San Francisco, Houston, New York, and San Jose, California. Still, there are some metros that are affordable and offer a decent job market for a young grad.
“The bad news is that the local markets with the most opportunities for young grads are among the least affordable,” Trulia reported. “The good news is that some lower-cost markets also offer numerous opportunities for recent grads, though not as many as the priciest markets. While there’s no place that offers the magic combination of extensive job opportunities and easily affordable housing (and if that place existed, it probably wouldn’t stay affordable for long), we found six metros where you can spend a bit less on housing without giving up too much on the job options.”
Detroit came in at No. 3 in terms of living affordability, while nearly 42 percent of listings in Dayton, Ohio, meet the typical new grad’s budget. In Seattle, Trulia revealed, nearly 24 percent of all job listings are appropriate for new graduates, while Baltimore has a strong job market and Hartford, Connecticut, offers great median income.
Pittsburgh offers the best of both worlds, according to Trulia. It ranks No. 17 in affordability and No. 37 for jobs.