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So you just graduated! Congrats! Welcome to the real world! It’s so great here, living the postgrad life. You’ll be free of the responsibilities of school, out in the world, making your own money, meeting (and sleeping with) new people.
Oh, fuck, who am I kidding? Sorry to break it to you, kids, but it’s a shit-show over here on this side of the fence. Dating’s a nightmare, getting laid is not as easy as it was when you were in school, your entry level job will likely suck, and lord knows you’ll only likely be making only slightly more than you did at that restaurant gig you had in high school. And according to a new study by Trulia, that sad little paycheck won’t get you much in the way of somewhere to live.
Trulia’s standard for affordability is no more than 31% of income going toward rent. Using that baseline, and the median salary for new grads in each city, the real estate website found that those of you who recently graduated can’t actually afford to live anywhere among the country’s twenty five largest rental markets. The five least affordable rental markets out of the top 25? Portland, OR; Riverside, CA; Orange County, CA, Miami, FL, and San Diego, CA. Even worse news? To be able to make the rent on the units available in these areas, most recent grads would need to have at least two roommates in a two bedrooms, meaning two people would need to share a room. Just when you thought those days were behind you…
So, if you’ve just graduated, where are the best places for you to head? Well, out of the top twenty-five rental markets, the study found that St. Louis, MO; Dallas, TX; Houston, TX; Atlanta, GA; and Phoenix, AZ. But even then, affordability is still an issue: the most affordable, St, Louis, only 18.6% of the available rental units are reasonable for recent grads under Trulia’s standards.
So what’s a recent graduate like you do? Well, you could move to outside of the top twenty-five rental markets, live in San Diego in a room with bunkbeds…or move home with Mom and Dad. At least with the last option, you’d get homecooked meals and your laundry done for free, right?.
[via Huffington Post ]
Image via Shutterstock
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Jenna Crowley
Jenna used to be known as 2NOTBrokeGirls, but then one of the girls actually went broke, so she's struck out on her own. Jenna spends her free time saving the world, one sorority girl at a time (usually while wearing yoga pants), questioning why she decided to get a doctorate, documenting her love of all things cheese related, and hosting the new PGP podcast Don't Take It From Us. You can ask her anything you want about football, using your boobs to get what you want, and pizza at @JennaLCrowley on Twitter or via email at JennaLCrowley@gmail.com.
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Affordability resides in the middle of the country. That’s where Brian’s from and look how he turned out.
He got rid of the people that were holding him back. That’s why he left.
Wait, it’s not 31% of your income leftover after rent? Oh god.
Recent college grads don’t make enough money to live anywhere? I’m 2 years out and still don’t make enough to move out of my parents.
Fuck you Sallie Mae
Accepting a job in your company’s Boston office over Houston at the same salary. FMLP
Boston? Sup?
Someone wants a Bogey on her six.
#buttstuff2015
I live in St Louis and can confirm my entry level job does not make me enough money to move out of my parents’ house. So I’m stuck with a 40 mile commute to and from work every day.
I bet you could afford St. Louis if you cut down on some of the cats
Hmm, probably. But I think you overestimate my meager earnings.
You can find pretty good deals on 2BR’s if you’re willing to look hard. I’ll pay the rent if you can cook.
True. Especially in “revived” neighborhoods like the tower grove area. I’d gladly cook, just be aware I’m best at frozen pizzas.
Maybe get rid of those 19 cats, they can’t be cheap to maintain
Hey I make enough to live in a trailer, that’s gotta count for something right?
Having rent as only 13% of my income makes up for living in the Midwest. Kinda?
If you don’t love it, leave it. Or stop complaining.
Though I have not often ventured outside Indiana *moans* I have found it very affordable to live in Indianapolis with my starting salary. There were many different options and 465 makes most commutes a little shorter.
In other news, the grass is green….