What You Should Consider When Moving After College

Relocating after college is a significant milestone that can shape your early career and personal life. For many graduates, it’s a time of newfound independence – but one factor determines most students’ choices: Money.

For recent grads who chose to take out student loans, the average total debt burden is $27,400 worth of debt in 2024. It comes as no surprise then, that around half of new grads end up sticking around. According to data from the Upjohn Institute of Employment Research, about half work in the same metro area as their college and two-thirds work in the same state.

The good news, however, is that a whopping 45% of graduates didn’t take on any debt at all – making them incredibly mobile.

With that said, some of the main factors that new graduates need to consider when relocating after college are:

• Cost of Living
• Jobs and Average Salary
• Proximity to Friends and Family
• Entertainment Value 
• Transportation

Choosing where you live after college is a big decision – it can make or break your finances and social life.

This guide covers how you can consider all of these factors before you take the next step of your journey. 

Cost of Living

A lot of people want to move to a new city – but not everyone can afford it. Cost of living is one of the biggest considerations for recent college graduates.

In order to help, we here at Bellhop have put together a chart of MIT’s “Living Wage Calculator” results for a working adult with no children in 8 popular metropolitan areas for recent college grads. 

We then took the average salary of a recent college grad ($68,516 as of 2024 – although this varies widely by major and geographic location, so we suggest you check out the data yourself and filter it by your own major) and divided that by the living wage in the metro area in order to come up with a “Bellhop Recent College Grad Affordability Score.”

The higher the number, the more affordable the metro. 

Anything below 1 indicates that a new college grad will not be able to afford living there without supplemental income from a part-time job. Anything over 1 suggests that the metro is more affordable (assuming you make at least $68,516 or more).

Atlanta, GA

Living Wage: $25.83/hr

Annual Living Wage: $53,726

Bellhop Recent College Grad Affordability Score: 1.28

Moving to Atlanta?

Washington, DC

Living Wage: $27.00/hr

Annual Living Wage: $56,160

Bellhop Recent College Grad Affordability Score: 1.22

Moving to DC?

Raleigh, NC

Living Wage: $24.70/hr

Annual Living Wage: $51,376

Bellhop Recent College Grad Affordability Score: 1.33

Moving to Raleigh?

Los Angeles, CA

Living Wage: $27.57/hr

Annual Living Wage: $57,346

Bellhop Recent College Grad Affordability Score: 1.19

Moving to LA?

San Francisco, CA

Living Wage: $29.87/hr

Annual Living Wage: $62,130

Bellhop Recent College Grad Affordability Score: 1.10

Moving to SF?

Chicago, IL

Living Wage: $24.16/hr

Annual Living Wage: $50,253

Bellhop Recent College Grad Affordability Score: 1.36

Moving to Chicago?

New York City, NY

Living Wage: $28.04/hr

Annual Living Wage: $58,323

Bellhop Recent College Grad Affordability Score: 1.17

Moving to NYC?

Boston, MA

Living Wage: $30.04/hr

Annual Living Wage: $62,483Bellhop Recent College Grad Affordability Score: 1.10

Moving to Boston?

Disclaimer: The data from MIT is for the entire metro area. If you plan on moving to downtown in any of these cities, costs will be much higher, as you’ll read below. Budget accordingly!

As you can see from the data above, while major metropolitan areas like New York, San Francisco, Los Angeles, and Boston offer great networking opportunities and a bustling job market, they come with steep living costs. 

Recent graduates should compare their potential salary with the high cost of rent, groceries, and transportation in these cities. In 2024, the average rent for a one-bedroom apartment in downtown New York hovers around $3,800 per month (roughly double that of Atlanta), while in Los Angeles, it’s about $2,200. These figures can quickly eat into a new graduate’s budget, especially for those paying off student loans.

That’s why many are turning to more affordable cities like Atlanta, Raleigh, and Chicago. These cities offer a balance of lower living costs and a growing job market, particularly in industries like tech, healthcare, and finance. 

The rise of remote work has also made it easier for graduates to live in less expensive areas while still accessing competitive job opportunities in larger markets.

With that said, let’s take a look at the job opportunities and average salaries in key markets…

Jobs and Average Salary in Key Markets

As we mentioned above, the average starting salary for a recent college grad – across every major and the entire United States – is around $68,000. This can vary based on your geographical location (expensive areas tend to also pay higher salaries) and type of degree. 

Accordingly, your earning potential will heavily influence where you choose to move. 

Major cities like New York, San Francisco, Los Angeles, and Boston are home to industries with competitive salaries. However, keep in mind that these cities also come with higher living costs. Sometimes the higher salary doesn’t always match the higher cost of living. 

 

Mid-sized cities or smaller, emerging markets might offer slightly lower salaries but could provide better opportunities for growth and leadership roles early in your career. In these smaller markets, the cost of living is lower, so your take-home pay could stretch further – this means more “fun money” for things that bring you joy. $80,000 in Cleveland might allow you to save more than making $120,000 in NYC, but you have to weigh the pros and cons of each.

With all of that said, FilterBuy has put together a list of the “Cities with the Most Employment Growth” since 2021, and the top five are:

1. Las Vegas, Nevada: +12.6%
2. Orlando, Florida: +9.1%
3. Austin, Texas: +8.0%
4. San Diego, Texas: +7.3%
5. Los Angeles, California: +7.0%

Before making any decision, remember to research not only the job market but also the average starting salary for your chosen field. 

Proximity to Friends and Family

Moving away from loved ones can be one of the most difficult parts of relocating after college. As a new grad, having a strong support system nearby is an important factor to consider. 

Being close to your loved ones means you’ll have emotional support and help when you need it – whether it’s finding housing or adjusting to life in a new city. 

If you’re moving to a city where you don’t know anyone, reach out to alumni networks or join professional groups to build connections and make new friends. 

Entertainment Value

There’s more to life than work.

That’s why it’s important to consider your entertainment options when you’re thinking about moving. 

Big cities like New York and Los Angeles have plenty to offer – from museums and parks to restaurants and nightlife, they’ve got it all. Cities like Portland or Denver have nature right next door, making it perfect for outdoorsy types. 

When choosing where to live, think about how much value you place on entertainment and social activities. Ask yourself whether you’d prefer vibrant city life or natural outdoor adventures. 

Transportation

How easy it is to get around and how safe you feel are key factors in deciding where to relocate. Larger cities tend to have robust public transportation systems, which can save you from the expense and hassle of owning a car. However, it’s a sad fact of American culture that small and mid-sized cities will likely require you to drive, adding an extra cost to your budget. While your rent might be higher in Chicago, if you don’t need to own a car, you don’t need to worry about a car payment, maintenance, or parking.

While deciding whether or not you’ll need a car, AllTransit is a good resource. It analyzes the cities that have the most connecting routes with the most employment.

Additionally, safety should be a top consideration, particularly when moving to an unfamiliar area. While no city is without its risks, researching crime rates, access to healthcare, and overall quality of life can help ensure you’re making an informed decision about your move.

Conclusion: What You Should Consider When Relocating After College

Relocating after college is an exciting yet challenging time, full of important decisions that can shape your future. By carefully weighing factors like cost of living, job opportunities, proximity to loved ones, entertainment options, and transportation, you can find the perfect city to kick-start your post-grad life.

And when you’ve made your decision, let Bellhop handle the move. Whether you’re relocating across town or across the country, Bellhop’s reliable and affordable moving and packing services make the transition seamless. Click here to get a free quote on your move.