Top cities for college grads are ranked
New graduates face cooling job market
As a post-pandemic hiring frenzy fades, Class of 2024 college graduates face a cooling but still solid U.S. job market.
But the job, and the quality of life, young adults have after graduation may hinge on where they choose to live and work.
With that in mind, Realtor.com this week unveiled a list of top rental markets for recent college grads based on factors such as job opportunities, rent availability and affordability, the share of other grads in the area and cultural amenities.
To identify the top job markets for college grads, Realtor.com ranked 313 cities and towns in the 50 largest metro areas with a population of more than 75,000.
Some broad themes emerge: Midwest markets appear more affordable; vacancy rates are higher in the South due to a surge of multifamily construction; and tech hubs like Austin, Texas, have many entry-level jobs.
As you check the rankings, keep in mind some key averages for the communities studied:
The average rent-to-income ratio is 29.7%; share of entry-level jobs, 23.9%; share of recent college grads, 3.4%; commute time, 30 minutes; number of entertainment, shopping and lifestyle establishments per 1,000 households, 23.9; rental vacancy rate, 6.3%; unemployment rate, 4.2%; and job posting index, 121.
Austin, Texas
Rent-to-income ratio: 21.4% h
Share of graduate-friendly occupations h (no prior experience required): 29.6% (tops in category)
Share of recent college grads: h
3.3%
Average commute time: 26 minutes h
Yelp culture and lifestyle business h per 1,000 households: 21.5
Rental vacancy rate: 9% (tops in h category)
Unemployment rate: 3.3% h
Job postings index (based on average h of 100): 125
Bloomington, Minnesota
Rent-to-income ratio: 19.9% h
(most affordable in category)
Share of graduate-friendly occupations h (no prior experience required): 26.7%
Share of recent college grads: h
2.5%
Average commute time: 23 minutes h
Yelp culture and lifestyle business h per 1,000 households: 22.4
Rental vacancy rate: 7.9% (tops h in category)
Unemployment rate: 3.1% (Lowest h in category)
Job postings index (based on avh
erage of 100): 125
Pittsburgh
Rent-to-income ratio: 21.7% Share of graduate-friendly occupations (no prior experience required): 26.7%
Share of recent college grads: 4.4% (tops in category)
Average commute time: 25 minutes
Yelp culture and lifestyle business per 1,000 households: 24.6 Rental vacancy rate: 6.3% Unemployment rate: 3.5%
Job postings index (based on average of 100): 131
Raleigh, North Carolina
Rent-to-income ratio: 21.4% Share of graduate-friendly occupations (no prior experience required): 28.8%
Share of recent college grads: 2.9%
Average commute time: 25 minutes
Yelp culture and lifestyle business per 1,000 households: 17.1
Rental vacancy rate: 8.7% Unemployment rate: 3.4%
Job postings index (based on average of 100): 119
Overland Park, Kansas
Rent-to-income ratio: 20.7% Share of graduate-friendly occupations (no prior experience required): 24.5%
Share of recent college grads: 3.3%
Average commute time: 22 minutes (lowest in category)
Yelp culture and lifestyle business per 1,000 households: 18.1 Rental vacancy rate: 7.5% Unemployment rate: 3.4%
Job postings index (based on average of 100): 124
Richmond, Virginia
Rent-to-income ratio: 24.6% Share of graduate-friendly occupations (no prior experience required): 25.8%
Share of recent college grads: 3.7%
Average commute time: 24 minutes
Yelp culture and lifestyle business per 1,000 households: 24.4 Rental vacancy rate: 4.9% Unemployment rate: 3.4%
Job postings index (based on average of 100): 127
Scottsdale, Arizona
Rent-to-income ratio: 24.4% Share of graduate-friendly occupations (no prior experience required): 22.1%
Share of recent college grads: 2.9%
Average commute time: 23 minutes
Yelp culture and lifestyle business per 1,000 households:
Rental vacancy rate: Unemployment rate:
Job postings index (based on average of 100): 166 (tops in category)