Add one more reason to the list of reasons to live in Indianapolis. A recent study conducted by a prominent credit card comparison and financial education website found that Indianapolis is the best city in the country for new college grads.
The study used data from the U.S. Bureau of Labor Statistics. These data were then used to make the determination according to 3 key factors:
- Unemployment rate for college graduates
- The local wage premium for a college degree
- Cost of living
How Does Indy Measure Up?
The website1 that conducted the study found an incredibly low unemployment rate of just 1.9% for college graduates in Indianapolis, compared to a national average of 4.4%. Secondly, college graduates in Indianapolis who possessed a 4-year degree earned wage premium of 73% compared to those without one. Finally, Indianapolis’ low cost of living, at just 87.2% of the national average, means more disposable income for things like paying back student loans.
The top-10 runner-up list included Austin, TX; Dallas, TX; Pittsburgh, PA; Louisville/Jefferson County, KY; San Antonio, TX (tie); St. Louis, Mo. (tie); Richmond, VA; Houston, TX; and Milwaukee, WI.
So while Indianapolis may not have the allure of more “glamorous” cities, such as New York, Los Angeles and Chicago, it more than makes up for this by being a smart place to live for new graduates. And in the end, don’t we all go to college to get a little smarter?
1. Source: Creditdonkey.com