Austin Ranks Number 5 in Top Cities for Grads

Who’s hitting the streets this summer? College graduates and they’re all looking for a good job and a great place to live!

The job part is hard enough; The Wall Street Journal stats say the unemployment rate for Americans 25 and under is 22%, adjusted for the decline in the labor force since the start of the Great Recession.

Now add finding a place to live into the equation; perhaps a little easier than the job part but not by much.

NAR finds cities where multi-family housing vacancy rates are below 5% which is considered as “justifying higher rents” by landlords.

The association states, "Average apartment rentals are likely to increase 4.6% this year and another 4.6% in 2014."

Apartments.com released a Top 10 Cities for Recent College Graduates List which might help some grads. They have been compiling a list of best cities for recent college graduates for the past six years according to Dick Burke, senior vice president at Apartments.com. "Each year, we adjust our methodology to ensure we are reflecting ever-evolving economic and social trends on a regular basis. This year's efforts have resulted in a list that represents affordability in tandem with professional opportunity, while taking into consideration the all-important-youthful culture and demographics that appeal to recent grads."

Based on “quality of life” as well as average price for a one-bedroom apartment rental, here is how Apartments.com rated U.S. cities rental picture:

1. Phoenix, Ariz. $708
2. Orlando, Fla. $857
3. San Antonio, Texas $794
4. Columbus, Ohio $634
5. Austin, Texas $1,006
6. Raleigh, N.C. $788
7. Oklahoma City, Okla. $722
8. Fort Worth, Texas $795
9. Dallas, Texas $983
10. Minneapolis $1,177

With four of these in Texas, life seems to be cheaper for college graduates living down South and in the Southwest which holds eight of the top 10 cities!

It goes without saying and has to be taken into consideration that the standard of living is cheaper in Austin than in New York City. In their hunt for a good place to live as well as their search for a good job, these factors should be taken into consideration.

So what is the take away from all of this? If you’re a college student in one of these towns – like the University of Texas in Austin, stay put!

Source: www.thestreet.com