The fact is, a new chapter of life awaits a college grad in the months and years after graduation. They may start working, take on more responsibility, and perhaps relocate at this time. As a bonus, the financial benefits of earning a degree can manifest almost immediately. According to the Bureau of Labor Statistics, in 2021, full-time workers in the age range of 22 to 27 with a bachelor’s degree earned median annual pay of $52,000, while their high school-educated counterparts earned close to $30,000. However, certain places make it simpler to get a foot in the door after graduation and maybe pay off student loans than others. Using a variety of metrics, SmartAsset has ranked the top places for recent college grads to settle in 2022. We looked at a variety of aspects, including employment opportunities, cost of living, and recreational opportunities. In this article, we will highlight to you as usual the best places to move after college and also the features that make the place suitable for you as a college graduate.
Why Location Is An Important Factor For New College Graduates
Even if the location isn’t always a factor in determining one’s fate, it can make a significant impact on how soon one can repay student debts. For instance, certain locations provide a greater number of chances for the cancellation of student loans, whilst others may be more appealing to individuals who intend to start a family. In general, however, the factors that make some locations more advantageous than others for paying off student loans are typically a confluence of the local levels of income and the local costs of living. As a result of the COVID-19 epidemic, an increasing amount of work is shifting to a remote status; thus, there are more opportunities to telework from any location of your choosing. Check this article out: Top 15 Best Podcasts For College Students | 2022 Ranking
What Are The Best Places To Move After College?
Here are the top places to move after college graduation:
#1. Austin, Texas
One of the best places to move after college graduation is Austin, Texas, especially if you are interested in pursuing a job in the tech sector or are an art enthusiast. Austin is well-known for its plethora of tech jobs as well as its world-famous festivals, such as SXSW and Austin City Limits. Austin’s cultural and artistic sophistication is enhanced by the fact that it is home to the University of Texas. While Austin has a higher cost of living than some of the other towns on this list, it is still quite reasonable because it is one of the top three metro areas in terms of fastest growing personal income.
Population: 978,908 Homeowners: 45.1% Average home value: $337,400 Average rent: $1,280 Average income: $71,576 Average unemployment: 4.8%
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#2. Charlotte, NC
This historic city is located in a state with one of the highest growth rates for personal income, making it a top destination for recent graduates seeking employment in the tech or finance sectors. North Carolina as a whole, and Charlotte, in particular, has developed into a desirable location for major firms to set up shop over the years. Charlotte, North Carolina, popularly known as Queen City, ranks a respectable No. 114 in unemployment rates among the 384 largest U.S. cities. Borrowers in the state of North Carolina also have a lower average loan balance than borrowers elsewhere in the country. For sports fans, Charlotte is home to the NASCAR Hall of Fame and the U.S. National Whitewater Center in addition to the state’s NFL team, the Carolina Panthers.
Population: 885,708 Homeowners: 52.9% Average home value: $220,300 Average rent: $1,135 Average income: $62,817 Average unemployment: 4.7%
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#3. Cincinnati
Cincinnati is one of the most economically major metros to relocate to for recent graduates due to its low housing costs and lower-than-average unemployment rate. If you need entertainment, Cincinnati is home to the Great American Ball Park, where the Cincinnati Reds play; the Cincinnati Zoo and Botanical Garden; and the largest Oktoberfest in the United States. If you go to Cincinnati, you better be ready to consume a lot of chilies. It is one of the top places to move to after college graduation.
Population: 303,940 Homeowners: 37.8% Average home value: $138,000 Average rent: $738 Average income: $40,640 Average unemployment: 5.5%
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#4. Cleveland
The cost of renting a property in Cleveland is among the lowest in the country. That, plus the fact that Ohioans have an average student loan load that’s 10% lower than the rest of the country, makes it one of the most attractive states to call home after finishing college. The industries of healthcare, manufacturing, banking, and commerce comprise the backbone of Cleveland’s economy. Many local businesses, like the Cleveland Clinic Foundation, MetroHealth System, Cleveland Cliffs, and KeyCorp, are actively hiring recent college grads. The Rock and Roll Hall of Fame and Cedar Point Amusement Park are two great options if you find yourself in Cleveland in search of entertainment. It also ranks among the top places to move after college.
Population: 381,009 Homeowners: 41.6% Average home value: $69,600 Average rent: $719 Average income: $30,907 Average unemployment: 6.5%
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#5. Denver
Denver is another one of the top places to move to after college graduation. Job seekers can choose from a wide range of industries in the Greater Denver Area, including those related to commerce, government, and healthcare. Companies including Google, Slack, Salesforce, Ibotta, and Rafflecopter all maintain satellite offices in Denver and neighboring Boulder, Colorado. And also, the city’s proximity to the Rocky Mountains might make it a top choice for your post-graduation relocation. Denver is indeed a pricey city, but it’s also one of the fastest-growing major metro areas in the country in terms of individual income.
Population: 727,211 Homeowners: 49.9% Average home value: $390,600 Average rent: $1,311 Average income: $68,592 Average unemployment: 6.3%
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#6. Minneapolis
Minneapolis is highly recommended as a destination to settle down after completing university studies due to its low unemployment rate and wide variety of available career paths. Recent college grads can obtain a job in fields including healthcare, teaching, B2B services, retail, or the utility industry. You can also visit the Mall of America®, Minnesota Zoo, Stone Arch Bridge, and Minneapolis Institute of Art without leaving the city. It is among the top places to move to after college school.
Population: 429,606 Homeowners: 47.2% Average home value: $251,600 Average rent: $1,027 Average income: $62,583 Average unemployment: 4.5%
#7. Omaha, Neb.
Omaha, Nebraska, in the middle of the country, has one of the lowest unemployment rates of any of the nation’s 20 largest cities. It’s also a desirable place to live because of the inexpensive cost of living and the dynamic social scene. Additionally, the average federal and private student loan amount in Nebraska is 22% below the national average. Industries such as education, healthcare, trade, transportation, utilities, and business services are significant contributors to the metro area’s economy. Corporate giants including Berkshire Hathaway, Union Pacific, Kiewit, and Mutual of Omaha Insurance all call this city home. The Olympic Swimming Trials, the College World Series, and the acclaimed Henry Doorly Zoo can all be found in Omaha.
Population: 478,192 Homeowners: 58.6% Average home value: $159,700 Average rent: $923 Average income: $60,092 Average unemployment: 3.2%
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#8. Seattle
It’s no surprise that Seattle, which is home to some of the top tech businesses in the world, is also regarded as one of the greatest cities to settle down in after finishing college. The city boasts one of the fastest-growing economies, stunning natural features including mountains and the ocean, and a trendy cultural environment that attracts people from all over the world. Borrowers in the state of Washington, meanwhile, have an average student loan balance that is 9% lower than the national average.
Population: 753,675 Homeowners: 45.7% Average home value: $663,100 Average rent: $1,614 Average income: $92,263 Average unemployment: 5.5%
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#9. Houston, Texas
Houston, Texas, which is home to the world’s largest medical center, maybe a good place for recent graduates to explore expanding employment opportunities. It’s not just because the Texas Medical Center is home to more than 50 hospitals and clinics that this metropolis of 2.3 million is included on our list of top large towns for new grads for another year. For cities with a population of over a million, Houston placed second for the number of entertainment venues and sixth for the median salaries of bachelor’s degree holders (around $61,000). Houston’s downtown tunnels are a network of air-conditioned walkways that allow downtown workers to rapidly get around. This city is also among the best places to move after college graduation.
Average rent: $943.53 Average earnings for bachelor’s degree holders: $61,806.02 Art and entertainment centers: 269 Average commute time to work: 27.8 minutes Crime rate per 100K people: 10,757
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#10. Dallas, Texas
Dallas is another city that is among the top places to move to after college. Dallas, with a population of more than 1.34 million and the highest rating for median wages for bachelor’s degree holders, has recently joined our list of the best large cities for new grads. The Dallas Cowboys, Texas Rangers, Dallas Mavericks, and Dallas Stars all call this progressive city in northern Texas home. The Dallas Arts District alone spans nearly 20 blocks of galleries, museums, and venues. Dallas has two airports and an Amtrak station, and it was number eight on our list of the top cities for recent college grads in terms of low crime rates. College grads in the Dallas area who are interested in working for a Fortune 500 company can check into AT&T, Exxon Mobil, JCPenney, and Texas Instruments. Dallas has an average of 1.3 snow days per year, even though there are more than 200 golf courses in the region.
Average rent: $944.62 Art and entertainment centers: 227 Average commute time to work: 27.9 minutes Crime rate per 100K people: 8,295
#11. San Diego, California
San Diego, the second-largest city in California and the eighth-largest in the United States, has about 3,000 annual sunlight hours. There are over 90 golf courses and over 6,000 restaurants available to its citizens, who also have access to the city’s 70 miles of beachfront. The San Diego Zoo and other animal exhibits are just a few of the attractions that draw visitors to Balboa Park. Due to its low crime rate, excellent predicted state employment, and average commute time of fewer than 25 minutes, this metropolis has once again made our list of top metropolitan cities for college grads. While the median income for bachelor’s degree holders is lower than in many of the other cities on this list, there are many fast-growing businesses in the area.
Average rent: $1,092.73 Art and entertainment centers: 284 Average commute time to work: 24.7 minutes Crime rate per 100K people: 4,973
#12. Los Angeles
Los Angeles, with a population of 3.9 million, has been added to our list of the top major cities for recent college grads. Aside from its allure as a hub of the entertainment industry, Los Angeles has a lot to offer recent college grads in terms of arts and entertainment venues. Los Angeles may be the most appealing huge California city on our list due to its relatively low rental costs. Los Angeles may be most known for the entertainment industry, but the city also offers a wide variety of other careers to those who are interested. The city’s leisure and hospitality sectors are important, but it also has other established sectors. In the greater Los Angeles area, almost 200,000 individuals are employed in aerospace or technology, while another 700,000 are employed in biomedical or health services. It also ranks among the best places to move to after college.
Average rent: $894.43 2016-26: 10.7% Art and entertainment centers: 396 Average commute time to work: 31.8 minutes Crime rate per 100K people: 6,017 12. New York City, New York
#13. Phoenix, Arizona
Phoenix, Arizona’s largest city, has a diverse array of transportation alternatives thanks to its light-rail system, ride-hailing services, and bike-sharing programs. Graduates looking for their first job or eager to start a new life may afford the median rent of $866 in this city. With a salary of over $50,000, the young adults of this metropolis can comfortably afford the rent. There are 299 sunny days per year in Phoenix, so it stands to reason that locals and visitors alike could enjoy taking in a game between the Phoenix Suns and the Arizona Cardinals during their downtime. Phoenix is one of the top places to move to after college school.
Average rent: $866.22 Art and entertainment centers: 175 Average commute time to work: 26.3 minutes Crime rate per 100K people: 4,208
#14. San Jose, California
San Jose, a technological hub in Silicon Valley, has made it back onto our annual list of the top major cities for recent college grads. Though the cost of living is rather expensive, the city is home to several Fortune 500 companies, including Adobe, Maxim Integrated Products, and Prime Materials. The state’s low unemployment rate, especially when compared to other large cities, and the state’s optimistic job projections helped it land on this list. The city is now the state’s third-largest and was the state capital for many years. In addition to having an airport and a low crime rate, it also bans the use of plastic bags in stores. The maximum number of licensed pets per household is five, therefore pet owners should be mindful of that limit. It is also one of the best places to move to after college graduation.
Average rent: $1,402.83 Art and entertainment centers: 203 Average commute time to work: 31.3 minutes Crime rate per 100K people: 5,522
#15. Chicago, Illinois
Our last list of the top places to move to after college graduation is Chicago, Illinois. Others contend that the epithet “Windy City” was bestowed upon Chicago not because of the city’s frequent gusts of wind, but rather because of the city’s abundance of hot-air politicians. This major metropolis may be an excellent fit for recent college grads because of its high median salaries for bachelor’s degree holders, its abundance of cultural institutions, and its low average rent of less than $1,000. It may surprise you to learn that the first Ferris wheel was unveiled in Chicago in 1893, but that fact is far from being the most exciting thing to attract young individuals to the city.
Average rent: $972.33 Art and entertainment centers: 255 Average commute time to work: 34.9 minutes Crime rate per 100K people: 7,719
Conclusion
After graduation, the next decision to make as a college student is a place to live. This is why we took our time to compile you with the best places to move to after college graduation. We hope this article was helpful to you.
References
bookscouter. com—Best Places to Move after College smartasset. com—Best Cities for New College Grads thebalance. com —15 Options for What to Do After College
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