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ollege graduates may not consider Austin, TX, an affordable place to live, but it's a mistake. According to Realtor.com's latest report, Austin offers job opportunities, shorter commutes, and plenty of amenities like cafes, restaurants, and nightlife.

    The median monthly rent in Austin is $1,450, lower than the national median of $1,699. "Austin stands out as the top-ranked city due to its strong performance across multiple factors that matter most to recent college graduates," says Jiayi Xu, an economist at Realtor.com. These factors include relatively affordable housing, robust job prospects, a larger peer network, and a lively cultural environment.

    The report analyzed 318 cities with populations over 75,000 within the 50 largest metro areas, considering rental affordability, availability, share of college graduate-friendly occupations, job stability rates, and job opportunities. Austin's rent-to-income ratio is 18.9%, the lowest on the list, making it an attractive option for young adults.

    Austin's local tech-driven companies offer stable, well-compensated jobs that can pay the rent. While median rents are not the lowest nationally, they remain relatively affordable compared to other major metropolitan areas like New York and San Jose.

    The report also looked at rental vacancy rates, with Austin having a rate of 29.4%. The top markets have an average rental vacancy rate of 8.3%, higher than both the town/city average and the national average across the top 50 metro areas.

    Austin's Indeed Hiring Index is 114, indicating strong job market opportunities. Other cities on the list include Raleigh, NC; Overland Park, KS; Minneapolis, MN; St. Louis, MO; Richmond, VA; Pittsburgh, PA; Scottsdale, AZ; Richardson, TX; and Atlanta, GA.

    Each city was ranked based on its performance across multiple factors important to recent college graduates. Austin's strong performance earned it the top spot, followed by Raleigh, NC; Overland Park, KS; Minneapolis, MN; St. Louis, MO; Richmond, VA; Pittsburgh, PA; Scottsdale, AZ; Richardson, TX; and Atlanta, GA.

    The report highlights that while affordability is crucial, so is being able to find a rental. The top markets have an average rental vacancy rate of 8.3%, making it easier for young adults to secure a place to live.