Where to Find an Affordable Apartment After Graduation

When new college graduates head off to start their first real jobs, they face a dauntingly small market for affordable apartments in every major city. Trulia’s Housing Economist, Ralph McLaughlin, crunched the numbers recently to find out just how difficult it is for a new college graduate to find an affordable apartment in each of the 25 largest U.S. cities. His analysis takes into account median earnings out of college, which vary considerably by city, and compares the average monthly income for a new college graduate in each city to the cost to rent an apartment in the same market. If the cost to rent an apartment including renter’s insurance is less than 31 percent of a monthly paycheck, then the apartment is considered affordable. So which city is the most affordable for a new college graduate starting his or her first job? Watch this Real Estate Minute to find out! Be sure subscribe to my YouTube channel for the latest real estate tips and news: http://www.youtube.com/subscription_center?add_user=expertrealestatetips And for more of my real estate and personal finance tips: Read my blog: http://thinkglink.com See my tweets: http://www.twitter.com/glink Follow me on Facebook: http://www.facebook.com/ilyceglink Here’s the URL for Ralph McLaughlin’s Trulia article on affordable housing for new college graduates: http://www.trulia.com/trends/2015/05/pads-for-grads/