These are the 10 best cities where new graduates can actually afford to rent

College graduates embarking on careers and setting up homes in new cities might not think of Austin, TX, as the most affordable place to live, but that would be a mistake.It has everything a young adult could want, including job opportunities, shorter commutes to work, and plenty of amenities like cafes, restaurants, and nightlife, according to the latest Realtor.com report.The median monthly rent now stands at $1,450, under the national median of $1,699.“Austin stands out as the top-ranked city thanks to its strong performance across multiple factors that matter most to recent college graduates—including relatively affordable housing, robust job prospects, a larger peer network, and a lively, culturally rich environment,” says Jiayi Xu, an economist at Realtor.com.“In addition to affordable living costs, thriving job markets, and vibrant lifestyles, many of these cities are home to prestigious universities and research centers, such as the University of Texas at Austin, Carnegie Mellon University, and Emory University.”The report analyzed 318 cities and towns with populations of more than 75,000 that are located within the 50 largest metro areas, and took into account these factors important to recent college grads: 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, TX, came out on top, notably because of its 18.9% rent-to-income ratio—the lowest on the list.All of the markets have a lower ratio than the town/city average of 28.3% and the 24.9% average across the top 50 metro areas.

The lower the rate, the better.Additionally, Austin’s local tech-driven companies (among those, the Realtor.com headquarters) promise stable, well-compensated jobs that can pay the rent.“While it’s true that Austin’s median rent and for-sale prices are not the lowest nationally, Austin remains r...