Friday, May 27, 2016

Go East Young College Grads; But Stay Away From Miami

Millennials are moving to Miami in large numbers, but a new report by online real-estate company Trulia and LinkedIn suggests that it is probably not a good move for those hunting for good jobs.

The study analyzed 40 of the county’s strongest job markets for recent college graduate-friendly factors such as housing affordability and the number of entry-level jobs.

Miami ranked last.

The cities were compared based on three criteria: the share of job openings suitable for recent college grads; the share of rental units considered affordable (less than 30 percent of monthly income) compared with the median income of graduates ages 22 to 30; and the share of the total population in that age range that has a college degree.

Miami was at the bottom of the list, just behind Los Angeles, Sacramento and Orange County, California, and Portland, Oregon.

San Francisco is also near the bottom of the list at 31.

Notes the report:
Graduates Lured by high wages in San Francisco and San Jose might want to think twice. While incomes for recent college grads in these areas are among the highest in the country, high rents will eat up much of it. Fewer than a third of homes would rent at an affordable price point, and the median rent in both of these markets come close to consuming an entire month’s paycheck 

 Cities on the west coast generally scored lower than cities on the east coast.

Topping the list as the best job markets for recent grads are Pittsburgh; Indianapolis; Kansas City, Missouri; Minneapolis-St. Paul, and Columbus, Ohio, in that order.

(via Miami Herald)

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