As summer rapidly approaches, millions of college students are preparing to graduate and find their first "real world" jobs. (Few of them will likely be actually working for "The Real World.")
Philadelphia topped a recent list of the top 10 most affordable cities for grads. The list was compiled based on research from Apartments.com and CBCampus.com, which is part of CareerBuilder.
"Joey Hyde, a 25-year old physics grad student at the University of Pennsylvania, likes living in downtown Philadelphia because he can get around without a car, make spontaneous plans with friends or his fiancée for a night on the town, and enjoy a great meal at his favorite upscale Cuban restaurant for half of what it would cost in Manhattan," according to MSNBC.
"Frontrunner Philadelphia, along with other cities on the list, has been working to enhance its reputation among younger workers and prevent the 'brain drain' that happens when young adults graduate and leave," according to MSNBC.
For more on this phenomenon, see our article on the Top 5 Declining U.S. Markets.
Research criteria for each city included "the population of people age 20 to 24, the number of entry-level job openings suitable for new grads, and the average cost to rent a one-bedroom apartment," according to MSNBC.
The rest of the list included, in order from second through tenth: Boston, New York, Phoenix, Chicago, Dallas-Fort Worth, Los Angeles, Houston, Detroit and Atlanta.
New York was the most expensive city on the list in terms of the average rent for a one-bedroom apartment, which is $1,520 per month. Detroit featured the cheapest rental rate for a one-bedroom apartment at $699 monthly.