BLOOMINGTON, Minn. — One of the best places for college graduates to live in the U.S. is the home to the Mall of America.
According to a recent report from Realtor.com, Bloomington is right behind Austin, Texas in a list of the top rental markets for recent college grads.
The rankings are based on factors such as rent-to-income ratios, job opportunities, commuting, creature comforts and "college-graduate friendly jobs."
Economist Jiayi Xu categorized "college-graduate friendly jobs" by using data from the Bureau of Labor Statistics to calculate the total number of occupations that require a bachelor's degree but no prior experience. Austin, which is home to several tech companies, leads with 29.6% of occupations that fit the bill. Raleigh was second with 28.8% and Bloomington was third with 26.7%.
The analysis calculated the rent-to-income ratio for households between ages 25 and 34 with how much of their income goes to housing expenses.
"A low ratio is better as it suggests the housing costs take up a smaller portion of the monthly paycheck," according to the news release.
Bloomington bested the competition in this category with being the most affordable with the rent-to-income ratio sitting at 19.9%.
Overland Park was second with 20.7%. Meanwhile, Austin and Raleigh tied for third with 21.4%.
The study measured creature comforts by using points of interest data from Yelp.
The calculations included "venues such as restaurants, cafes, bars, shops, theaters, comedy clubs, and art studios."
Beaverton claimed the top spot within the top 10 list, with a ratio of 39.5. Bloomington was sixth with 22.4%.
Top 10 rental markets for recent college graduates:
1. Austin, Texas
2. Bloomington, Minnesota
3. Pittsburgh, Pennsylvania
4. Raleigh, North Carolina
5. Overland Park, Kansas
6. Richmond, Virginia
7. Scottsdale, Arizona
8. Beaverton, Oregon
9. St. Louis Missouri
10. Atlanta, Georgia
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