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The 10 cities with the best opportunities for young professionals looking to relocate

2022-01-21T00:49:33.782Z

This list compiled by experts not only explains in detail which are the cities with the best job offers, but also better quality of life according to income and more entertainment.



By Carmen Reinicke -

CNBC

The coronavirus pandemic has prompted many people to move or move out of big cities.

It has also forced many others to work from home and reconsider their goals in life.

For some,

that may mean moving to a new city.

When deciding where they want to move, there are a few things young professionals should consider, according to Brian Carberry, senior managing editor at Rent.com.

These include things like demographics, job opportunities, availability of activities outside of work, and how much of your income will go toward rent.

Weighing these factors, Rent.com compiled a list of the top 10 cities young people should consider living in.

Higher scores in demographics, economics, and recreation mean there are more young people, more jobs available, and more things to do.

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“In many of these places, in addition to job opportunities, there are many things to do,” Carberry said.

Some big cities on the list, like Boston and San Francisco, have always been popular, he added.

But others, like Madison, Wisconsin, hold more promise.

"There are smaller places that will also become more popular due to the current state of the pandemic and the workforce," he added.

Here is the list:

1. Seattle, Washington

  • Demographic Score: 21.89

  • Recreation score: 7.22

  • Economic Score: 15.87

  • Income-income ratio: 20.22%

2. Charleston, South Carolina

  • Demographic Score: 19.27

  • Recreation score: 11.67

  • Economic score: 15.48

  • Income-income ratio: 75.14%

3. San Francisco, Calif.

  • Demographic Score: 21.20

  • Recreation score: 6.22

  • Economic Score: 15.78

  • Income-income ratio: 27.30%

4. Denver, Colo.

  • Demographic Score: 18.68

  • Recreation score: 7.42

  • Economic Score: 16.26

  • Income-income ratio: 18.75%

5. Washington D.C.

  • Demographic Score: 20.77

  • Recreation score: 8.42

  • Economic score: 13.74

  • Income-income ratio: 20.13%

6. Minneapolis, Minn.

  • Demographic Score: 17.65

  • Recreation score: 8.50

  • Economic score: 15.16

  • Income-income ratio: 20.17%

austin, texas

  • Demographic Score: 17.6

  • Recreation score: 5.33

  • Economic score: 16.83

  • Income-income ratio: 9.62%

Atlanta Georgia

  • Demographic Score: 18.46

  • Recreation score: 8.34

  • Economic score: 12.67

  • Income-income ratio: 20.79%

Madison, Wisconsin

  • Demographic Score: 16.16

  • Recreation Score: 6.66

  • Economic score: 16.36

  • Income-income ratio: 30.36%

Boston, Massachusetts

  • Demographic Score: 20.62

  • Recreation score: 4.54

  • Economic score: 14.94

  • Income-income ratio: 38.07%

Source: Rent.com

You have to think about money

There are some key financial considerations to make before you move, according to Roger Ma, a New York-based certified financial planner, founder of Lifelaidout, and author of

Work Your Money, Not Your Life: How to Balance Your Career and Life.

Personal finance to get what you want.

First, consider whether your company will adjust your salary when you move out of town, in case you plan to continue working in the same place.

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Then compare your salary to the cost of living in the area.

Reasonably determine how much you will spend on housing, whether renting or buying a property, as well as utilities, food, and other essentials.

If you move to a different tax state, you should also consider how that will affect your budget.

“If you're in one of the bigger cities like San Francisco or New York and you move to Austin, your housing costs could be significantly lower,” says the financial planner.

“But on the other hand,

things like your heating, electricity, water, and gas bill can go up

,” he adds.

“If you buy a house, you are also obligated to carry out repairs and maintenance.

You may also need to buy a car, another additional expense.”

“Once you have the financials figured out, the biggest question is

why do you want to move?

", He says.

In some cases, there may be a personal aspect (such as having friends or family in the area) that outweighs the financial gains.

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He also recommended that people consider job opportunities in the area they are moving to, even if they are currently employed.

“Maybe your company will let you move in with your current job right now, but what about your next job?” he asks.

"Are there opportunities in that area that value your skill set?"

Beyond the pandemic

Of course, the pandemic has changed the requirement for many workers to be physically present in the offices and even in the cities where their jobs are located.

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However, as the pandemic enters its third year, young professionals may still want to carefully consider where they are putting down roots.

Even if they have a remote job,

it may be worth living in a bigger city with more opportunities

than, say, moving back home or to a more rural area.

"People will still want to live in places where there are more job opportunities and that's really the case with a lot of these larger cities, even if you can work remotely," says Carberry.

This article is part of the 

Invest in You Ready series.

Set.

Grow

 (Invest in you: Ready. Ready. Grow), an initiative of CNBC and Acorns, the micro-investing app.

NBC Universal and Comcast Ventures are investors in 

Acorns

.

Source: telemundo

All news articles on 2022-01-21

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