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So you’re about to graduate from college, huh? Good for you. Now you can start working and paying down that overwhelming student loan debt you piled up to get that education. Yippee!
Sorry. Yes, it sucks, but if you’re feeling mobile and are open to moving to the right cities, there are actually some places with plenty of jobs, high incomes and affordable rent.
Related: What Is The Value Of A College Education? Is It Worth Burying Yourself In Debt These Days?
With a focus on jobs, affordability and fun, SmartAsset’s fourth annual study crunched the numbers to find the best cities for new college graduates in 2018.
Some highlights from their analysis include…
• The Midwest dominates. Six of the 10 best places for college grads are located in the Midwest, with Columbus and Cincinnati claiming the top two spots for the second year in a row. These cities tend to combine low costs of living with great job opportunity.
• There are options on both coasts. Despite high costs of living, cities on both the East and West coasts have representatives in the top 25. That’s due in part to the higher salaries and the large number of job listings in places like San Francisco, Seattle and Boston.
To determine this list, SmartAsset utilized 10 metrics across three categories: jobs, fun and affordability in the 108 largest cities for which they had data.
For jobs, they used information such as unemployment rates, earnings and job postings.
For affordability, SmartAsset looked at the median rent in each city and the cost of living as a percentage of the national average.
And for fun, they utilized the concentration of entertainment and dining establishments, the percentage of the population ages 20 to 29 and the Yelp scores of restaurants and bars.
Here are the cities that scored best for new college graduates in 2018…
1. Columbus, OH (#2 in 2017)
• The cost of living here is lower than the national average and is 12th lowest overall in the entire study.
• Only 1.5% of bachelor’s degree holders are unemployed in Columbus and overall only 3.8% of workers overall are unable to find work.
2. Cincinnati, OH (#1 in 2017)
• Median rent in Cincinnati is one of the most affordable in the country.
• Living in Cincinnati costs 4 percent less than the national average.
3. Nashville, TN (#3 in 2017)
• Nashville scored a 95 out of 100 on the fun index, seventh overall.
• Jobs are also relatively plentiful. The city has an overall unemployment rate of 2.7 percent.
4. Pittsburgh, PA (#5 in 2017)
• Has the fourth-lowest cost of living and the fourth-highest percentage of residents in their 20s.
• The unemployment rate for residents with a bachelor’s degree is just 2.4 percent.
5. Milwaukee, WI (#13 in 2017)
• Milwaukee is rather affordable thanks to the availability of low cost rent.
• It’s also a young city, with over 18 percent of residents aged between 20 and 29.
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6. San Antonio, TX (#4 in 2017)
• San Antonio scores in the top 25 in five different metrics.
• Overall unemployment rate is low, while the average Yelp score for restaurants is high.
7. Omaha, NE (#14 in 2017)
• Only 1.4 percent of bachelor’s degree holders here are unemployed.
• Omaha also has an overall cost of living that’s less than the national average.
8. Louisville, KY (Unranked in 2017)
• Louisville owes its eighth-place ranking to its cost of living and low median rental costs.
• The average college graduate here earns over $49,000 per year, the highest in the top 10.
9. St. Louis, MO (#10 in 2017)
• The unemployment rate for college graduates here is just 2.2 percent.
• St. Louis’ most impressive score, however, comes in its remarkably low housing costs.
10. Indianapolis, IN (#19 in 2017)
• Low rent costs and costs of living make Indianapolis very affordable.
• On the flip side, median earnings for college graduates here are quite high.
The chart below shows the complete list of the 25 best cities for new college graduates in 2018 and how each city rated in each category.
Check out the entire study here.
Related: The Best Places In America To Live And Work Without A College Degree
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