With graduation season approaching, college students are determining where in the country is the best place for them to live in, taking into consideration job availability, average earning income and cost of living. According to a report from business magazine Forbes, it doesn’t get much better than Houston.
Based on economic and cost of living data from a variety of sources – such as the Bureau of Labor Statistics and Rent.com – Forbes deemed Houston to be among the best cities new college grads to move to or stay in if they’re already in the area. That’s because the mean annual income for Houstonians fresh out of college is about $47,500, which is near to what the national median is for income-earners in the U.S. of all ages.
In addition, it’s relatively inexpensive to rent a unit if that’s what college students prefer, with the median price at $800 for a one-bedroom apartment.
Houston also boasts one of the country’s lowest unemployment rates at 6 percent, almost two full percentage points lower than the national average.
While recent college grads may not have the financial resources to purchase a Houston home right away, they have a better chance of affording one there than in other parts of the country. The Real Estate Center at Texas A&M University found that based on housing affordability data, Texas has routinely been a part of the country where cost of living is more reasonably priced than the U.S. average.