Phoenix is one of the hottest spots to move to after graduation, according to a new report from Zillow. Relatively low population, affordable rents and ample job opportunities give recent college grads a high quality of life in Phoenix.
Zillow ranked each city based on rent-to-income ratio, average salary, quantity of job openings and the overall share of the population in their 20s.
“Graduating from college and moving to a new city to start your career is a major milestone. For many, it’s a reality check when they realize how much of their hard-earned paycheck goes straight to rent,” Zillow Economic Data Analyst Anushna Prakash said in the report.
Phoenix ranks among the top cities in the country in three key areas: typical rent, average salary of recent college grads, and rent-to-income ratio (meaning the proportion of one’s salary that must be spent on rent). The typical rent in Phoenix is $1,918 while the typical salary of a recent grad in the area is $62,324. That means the average college grad will only need to spend 37% of their salary on rent.
“Zillow’s top markets for college grads are buzzing with abundant job opportunities, a chance to connect with fellow 20-somethings, and rent prices that allow more freedom to spend on nights out or even saving for a down payment. They’re great places to kick-start life’s exciting next chapter.”
Here’s Zillow’s full list of the 10 best places to move after graduation:
- Colorado Springs, Colorado
- Spokane, Washington
- Des Moines, Iowa
- Phoenix
- Buffalo, New York
- Albuquerque, New Mexico
- Bakersfield, California
- Albany, New York
- Portland, Oregon
- Little Rock, Arkansas