Best cities for new college grads to rent
What to expect from housing market in 2025
Corey Burr with Southeby's International Realty joined LiveNOW's Josh Breslow to talk about what to expect with the housing market in the new year.
Just as college graduates embark on their professional lives, Realtor.com is out with its list of the most affordable cities for grades.
Methodology:
Researchers analyzed 318 cities and towns with populations of more than 75,000 that are located within the 50 largest metro areas.
They took into account rental affordability (estimated by rent-to-income ratio for households between 25 and 34 years old); rental availability; share of college graduate-friendly occupations; job stability rates; and job opportunities.
AUSTIN, TEXAS - APRIL 11: In an aerial view, the downtown skyline is seen on April 11, 2023 in Austin, Texas. The city of Austin has been ranked as the top destination of U.S. job markets for the second consecutive year, according to data collected b
Dig deeper:
The rankings are:
1. Austin, Texas
Rent-to-income ratio: 18.9%Rental vacancy rate: 29.4%
Austin has a median month rent of $2,560, according to Realtor.com data, with an average annual income of $95,475. However, the average rent in this vibrant Texas city is only $1,470.
Austin is also nicknamed "Silicon Hills" because of its many local tech employers such as Dell, IBM, Google, and Apple.
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2. Raleigh, N,C.
Rent-to-income ratio: 20%Rental vacancy rate: 9%
Raleigh locals can afford a $2,453 monthly rent, but they only need to pay $1,489 on average. Raleigh can also boast the highest (30.4%) share of college grad-friendly occupations in the top 10 places.
3. Overland Park, Kan.
Rent-to-income ratio: 20.6%Rental vacancy rate: 9.2%
Overland Park has the shortest commute-to-work time at an average of 22 minutes. This is as opposed to longer commutes that can not only be more expensive, but they take a toll on work-life balance and mental health.
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4. Minneapolis
Rent-to-income ratio: 19.7%Rental vacancy rate: 5.2%
The city not only has lakes, but the country's largest shopping mall, The Mall of America—Minneapolis has one of the lower rent-to-income ratios on the list.
5. St. Louis
Rent-to-income ratio: 20.8%Rental vacancy rate: 8%
With an 8.0% rental vacancy rate, it's easier to find a rental in St. Louis than in most other cities on the list—but with a 20.8% rent-to-income ratio, it may cost you a bit more.
6. Richmond, Va.
Rent-to-income ratio: 23.2%Rental vacancy rate: 8.2%
Reatlor.com said Richmond offers better chances at finding a job than other places on the list. However, with a rent-to-income ratio of 23.2%, it's a bit more expensive to rent here than in other towns.
7. Pittsburgh
Rent-to-income ratio: 22.3%Rental vacancy rate: 8.7%
Often overshadowed by Philadelphia, Pittsburgh is emerging as an affordable and vibrant city in its own right, shedding its steel town image. With a median asking rent of $1,459 as of April 2025, it offers reasonable housing and plenty of attractions.
8. Scottsdale, Ariz.
Rent-to-income ratio: 22.5%Rental vacancy rate: 7.9%
Known for its golf courses, retirement communities, and dry heat, Scottsdale is also a great spot for recent college grads, boasting a high hiring index of 126 and 23% of jobs suited to college-educated workers. As a bonus, many apartment complexes feature pools.
9. Richardson, Texas
Rent-to-income ratio: 22.4%Rental vacancy rate: 8.9%
A newcomer to the list, Richardson may not be as well known as Austin, but it's worth a look—with 25.3% of jobs suited for college grads and a low 3% projected unemployment rate.
10. Atlanta
Rent-to-income ratio: 24.1%Rental vacancy rate: 9.3%
Atlanta may be pricier than some other cities on the list, but it offers the highest rental vacancy rate, likely due to a boom in new multifamily construction expanding rental supply. The Atlanta-Sandy Springs-Roswell area ranks among the top for recent multifamily permits.
The Source: The information in this story comes from a Realtor.com analysis of 318 U.S. cities and towns with populations over 75,000, located within the 50 largest metro areas. The ranking considered factors such as rent-to-income ratios for young adults, rental vacancy rates, the share of college graduate-friendly occupations, job stability, and overall job opportunities. This story was reported from Los Angeles.