Washington and Baltimore among great cities for new college grads
Washington and Baltimore both made Kiplinger's list of 10 great cities for new college graduates.
Criteria included "rent affordability, access to public transportation, overall cost of living, culture, nightlife and the percentage of people ages 20 to 24."
The forecast for Washington:
No. 10 - Washington, D.C.
Median monthly rent: $1,226 (nat. average, $817)
Median income (2009): $40,952 (nat. average, $30,402)
Income growth (2005 to 2009): 4.9%
Unemployment rate: 9.5% (nat. average, 9.2%)
Percentage of residents ages 20-24: 6.5% (nat. average, 7.0%)
"The District is a clear choice for new grads looking to start their careers in public service. The nation's capital led U.S. job growth in 2010, hiring thousands for stable, well-paying jobs in government and government-related sectors, such as like public health, homeland security and legal services.
"By 2012, Uncle Sam will make another 25,000 hires in the region -- paying more, on average, than the private sector. As in other large cities, well-paying jobs come with higher rents and living costs. But recent grads can look to eclectic neighborhoods like Adams-Morgan and Columbia Heights for cheaper rent. An abundance of free museums, concerts and other entertainment also lessens the cost-of-living sting."
But Baltimore leads the pack:
No. 1 - Baltimore, MD
Median monthly rent: $972 (nat. average, $817)
Median income (2009): $32,994 (nat. average, $30,402)
Income growth (2005 to 2009): 5.6%
Unemployment rate: 7.4% (nat. average, 9.2%)
Percentage of residents ages 20-24: 6.8% (nat. average, 7.0%)
"Baltimore's diversified economy includes high-paying jobs in defense, finance and information technology. It's home to Constellation Energy Group (CEG), a Fortune 500 company. Lockheed Martin Corporation (LMT) and Grant Thornton International also have offices here.
"Charm City weathered the recession with low foreclosure rates, and income growth remains strong. Downtown Baltimore is in the midst of several multimillion-dollar development projects. It ranks higher than Austin, Denver and Atlanta in per capita income for downtown residents. And as many music fans know, few cities can match Baltimore for its innovative, eclectic art and music scene.
"Pros: Relatively low costs of living and rent compared to other major cities, strong income growth, waterfront and downtown districts, extensive bus and subway system, easy train commute to Washington, D.C., violent crime dropped 4% between 2009 and 2010.
"Cons: Long average commutes from the suburbs. Despite a drop in crime rate, some of Baltimore's inner-city neighborhoods still struggle with serious crime."
Check out the full list of 10 great cities for new college grads.
