The best cities for young professionals? It’s all about the Midwest, study finds
If you’re a young professional eyeing your next move, perhaps a relocation to the Midwest is in order.
Seven of the top 10 cities for young professionals in the United States are in the Midwest, according to a new study by SmartAsset.
The website compared 150 cities using metrics such as cost of living, median earnings, unemployment rate and percentage of the population between 25 and 34 years old.
St. Louis came in at No. 1 for young professionals, with a high mark in rent as a percentage of full-time workers’ earnings. The Gateway to the West also scored in the top 20 in median rent ($830) and a strong percentage of young professionals.
“For young professionals in St. Louis who are ready to invest in property, it might be important to note that Missouri is also one of the cheapest states to buy a home,” SmartAsset said.
St. Louis was not in the top 25 last year, when Sioux Falls, South Dakota, led the way.
Other Midwest cities in the top 10 are Minneapolis, Minnesota; Lincoln, Nebraska; Sioux Falls, South Dakota; Omaha, Nebraska; Cincinnati, Ohio; and Overland Park, Kansas.
For Overland Park, a suburb of Kansas City, SmartAsset noted the high labor force participation rate for young professionals. It also has one of the country’s lowest median rent of median earnings.
It’s a high climb in the rankings for Overland Park, which was ranked 24th last year.
Low rent is a major contributing factor among cities in the top 10 of the rankings, according to SmartAsset. Their average rent is $939, more than $100 less than the national average, the website said.
Here are the top 15 cities for young professionals, according to SmartAsset:
1. St. Louis, Missouri
2. Minneapolis, Minnesota
3. Lincoln, Nebraska
4. Sioux Falls, South Dakota
5. Omaha, Nebraska
6. Cincinnati, Ohio
7. Overland Park, Kansas
8. Pittsburgh, Pennsylvania
9. Atlanta, Georgia
10. Lexington, Kentucky
11. Washington, D.C.
12. Austin, Texas
13. St. Paul, Minnesota
14. Salt Lake City, Utah
15. Kansas City, Missouri
This story was originally published July 30, 2020 at 9:16 AM.