The Best States for New College Graduates To Start a Life
For recent grads, some states are better than others.
GoBankingRates, May 6, 2019
Graduating from college initiates a time of great change. Finding a job and starting a new life postgraduate represents a big step into adulthood. It’s also significantly more or less difficult depending on where you live. That’s because being aware of the best places to live after college can make figuring out where to find a job, affording an apartment and even where to buy your first home that much easier.
That’s why GOBankingRates conducted a study to look at all the different potential factors that might impact that decision, including the cost of rent, how many years it would take to save up for a 20% down payment, livability and unemployment environment. Each category was then scored and added up to determine a final ranking of the best states to live in after college.
- Share of population ages 25 and older with a bachelor’s degree: 21.2%
- Percentage of population ages 25-29: 7.4%
- Median income for population ages 25 and older with a bachelor’s degree: $49,455
- Median home price: $635,000
- Years needed to afford down payment: 25.68
- Median rent: $2,300
- Percentage of income spent on rent: 55.8%
- Unemployment rate for population with a bachelor’s degree: 2.3%
- Livability score: 53
While the selling points for moving to Hawaii in your 20s shouldn’t require much elaboration, it’s got one pretty major downside: It’s very expensive. The median home price is the highest in the nation, and it would take about a full quarter century to save up enough for a down payment based on a median salary.
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KITV Island Business Report: Hawaii second to last state in the nation for new college grads