5 Affordable Neighborhoods You Should Live In After Graduation
Tuesday, April 7, 2015, 5:00 AM | Leave Comment
If you are graduating from college this year, chances are you’ll likely be leaving your college town to start a new job in a new city. If you are moving to a big city, finding an affordable apartment after graduation can be tough.
Here are 5 neighborhoods in 5 US metropolitans that new graduates should consider when saving on rent is important. The data comes from HotPads rental website.
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Boston
Moving to New England after graduation? While Boston may be known as the City of Neighbors because of its diverse neighborhoods, there are definitely neighborhoods you’ll want to avoid if you’re trying to save on rent, chief among them: Back Bay.
Even those going into the higher paid professions will have to spend more than half of their gross salaries to rent in this area, where the per person rent is estimated at $2,600 a month.
Instead, try renting in Somerville, where the per-person rent is a far more manageable at $900 a month.
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Chicago
Ready to become a Cub’s Fan? Okay, but try not to live too close to Wrigley Field because that is one of the most expensive areas to rent in Chicago.
Per-person rent medians are around $1,652 per month in the Lakeview neighborhood, which means if you’re making less than $60,000 a year, more than 30 percent of your salary will be spent on rent.
Instead, try hunting for an apartment in the far more reasonable Logan Square neighborhood where the median per person rent is around $800 per month.
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Los Angeles
The home of movie stars, surf bums and bohemians. Headed to Los Angeles after college? There are ample neighborhoods for you to enjoy in this sun-soaked city.
But, if you want to have some of your salary left over to enjoy the great restaurants an nightlife here, than you might want to think about living further inland.
Areas like Culver City are not only centrally located to both the beach towns and downtown, it also has a great restaurant scene and is more affordable – at $1,100 per-person median monthly rent – than other areas.
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New York
Everyone would love to live like Carey Bradshaw in a beautiful Brownstone apartment in Manhattan, or Mr. Big. But let’s face it, new graduates just starting their careers are probably going to have a hard time finding affordable rent anywhere in Manhattan.
Instead, it’s probably a good idea for new graduates moving to The Big Apple to head across the bridge to Brooklyn. Neighborhoods like Astoria are far more affordable at around $1,450 per-person, per month, and they are getting loads of great restaurants and nightlife.
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San Francisco
San Francisco is one of those cities that everyone loves. The cable cars, the Golden Gate Bridge, the beautiful fog! What people don’t love is the sticker shock!
Rents here are often times higher than those in New York City’s Manhattan.
So, what are new graduates to do when it comes to rent? Heading outside the 7×7 square miles of San Francisco is a good start.
Neighborhoods south of the City, like Daly City or Pacifica are much more affordable, as are neighborhoods in the East Bay like Alameda or San Leandro, where an individual may be able to rent something for under $1,000 per month.
Throw us a like at Facebook.com/doable.financeAuthor BIO
Kristy Hessman writes for HotPads, a rental search website that makes it easy for you to find your next place in the city.
