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Top cities for recent college graduates to relocate

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Austin, Texas, has quickly become a hotspot for recent college graduates looking to rent in a post-pandemic world. According to a recent report from Realtor.com economist Jiayi Xu, Austin offers the best mix of affordable renting options, job opportunities, and appealing lifestyle amenities, making it the top market for recent graduates. The area has seen a surge in activity as more people and companies move in, creating a perfect environment for young, educated workers.

The report focused on areas with college graduate-friendly occupations that require a bachelor’s degree but not necessarily a lot of experience. Austin, part of the Austin-Round Rock metro area and home to many tech company offices, has the highest share of college-friendly occupations on the list. This has drawn in many companies looking for young, educated workers, creating a positive cycle of opportunity and growth in the area.

Despite the surge in housing costs for buyers in Austin, rental costs have actually come down, making it more affordable for recent graduates. The economists behind the report aimed to balance opportunity with affordability in their analysis of the top 10 markets for recent graduates. Austin may offer the best combination of both, but it is not the cheapest in terms of rent-to-income ratio, which measures the portion of one’s gross income allocated to housing expenses.

The analysis found that all the top 10 markets have an average rent-to-income ratio of 22.5% for households between the ages of 25 and 34. Bloomington, Minnesota, located within the Minneapolis-St. Paul-Bloomington metro area, was identified as the most affordable market on the list with a rent-to-income ratio of 19.9%. Other affordable markets included Overland Park and St. Louis within the Kansas City metro area, with rent-to-income ratios of 20.7% and 21.7%, respectively.

Overall, Austin, Texas, stands out as the top market for recent graduates looking to rent thanks to its mix of job opportunities, affordability, and lifestyle amenities. The area’s booming tech industry and young, educated population make it an attractive destination for those starting their careers. While it may not be the cheapest in terms of rent-to-income ratio, it offers a unique blend of opportunities that set it apart from other markets. With rental costs falling and job opportunities on the rise, Austin remains a top choice for college graduates looking to establish themselves in a vibrant and growing community.

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