See I don't think I go through extreme lengths to live my lifestyle and if you consider that most people are living with a significant other...then you are possibly looking at $13,000+ in expendable income with my math + small interest on top of it. Surely someone should save a couple of hundred dollars a month if they can, but you know most people don't. I DO THINK that wages in NYC do have to go up significantly because the cost of living is insanely high for that pathetic minimum wage they have up there. I just get a little annoyed when people act like they can't make it with 30K per year in most parts of the country. Also, I think Economics should be taught from grades 6-8. Community College should be free or should I say...handled like K-12 is.
People can't make it in 30k a year in most parts of the country because the places that are hiring are in high cost areas. That's one. Two, the average student comes in at 20 to 30k in debt. I mean, what you're saying works in theory, and it is definitely doable, but it's a hard sell to young professional and a harder sell to someone with a family. At the end of the day people don't want their kids to want for anything.
With those challenging statistics in mind, in some cities it easier for new college grads to find both a job and affordable rental housing. A new ranking from Rent.com, a rental housing listing site, looks at the top 25 markets with the most rental listings, and then compares figures for unemployment, cost of living and annual mean wages. The research relies on information from the BLS, the Census Bureau and Rent.com’s own apartment rental database. From those numbers, Rent.com came up with a list of ten cities where young grads would be most likely to find housing, work and a reasonable paycheck. Rent.com gave double weight to the unemployment rate. Here are Rent.com’s top ten cities for college graduates, with unemployment and wage figures from the BLS. These are the top ten cities, in no particular order:
Atlanta, Ga.Mean annual income: $46,600
Median price for a one-bedroom apartment: $800
Unemployment rate: 8.4%
Boston, Mass.
Mean annual income: $57,500
Median price for a one-bedroom apartment: $1,590
Unemployment rate: 5.9%
Houston, Texas
Mean annual income: $47,500
Median price for a one-bedroom apartment: $800
Unemployment rate: 6%
Denver, Colo.
Mean annual income: $50,300
Median price for a one-bedroom apartment: $970
Unemployment rate: 7.4%
Minneapolis/St. Paul, Minn.
Mean annual income: $49,800
Median price for a one-bedroom apartment: $900
Unemployment rate: 5.1%
Seattle, Wash.
Mean annual income: $54,800
Median price for a one-bedroom apartment: $1,300
Unemployment rate: 6.7%
Dallas, Texas
Mean annual income: $46,200
Median price for a one-bedroom apartment: $900
Unemployment rate: 5.9%
Raleigh, N.C.Mean annual income: $45,200
Median price for a one-bedroom apartment: $800
Unemployment rate: 7.5%
Washington, D.C.
Mean annual income: $62,900
Median price for a one-bedroom apartment: $1,600
Unemployment rate: 5.2%
St. Louis, Mo.Mean annual income: $44,200
Median price for a one-bedroom apartment: $960
Unemployment rate: 7%
Basically, the median rent is more than all of your utilities combined. And if we get into straight up just talking about where the jobs are at then we have to incorporate the Silicon Valley . I feel you though, I had to live frugal a lot in college and in law school, it's doing, but it's also why my law school years have been the least enjoyable years of my life. This 3rd year though....I'm back I hope you do choose Detroit though, Michigan's like a second home at this point. I'd love to see them bounce back.