10 Best Cities for Today’s College Graduates

Attention, Class of 2014: It’s almost time to start ditching dorm life for the real world.

Though some soon-to-be degree holders may already have good jobs lined up, many more will be searching for some time to come. The unemployment rate for the class of 2013, after all, is at 10.9 percent – far above the national average. Still, that’s the lowest unemployment rate for new college graduates since 2007, when the rate was at 7.7 percent.

Related: Millennials’ Joblessness Costs Government $8.9B a Year

With the job market improving for this group of Americans, especially in certain parts of the country, where should these new grads go?

A new study by NerdWallet examined criteria in each major U.S. city – such as the job market, average income, affordability and percentage of young people – all crucial to this cohort, and came up with the 10 places most appealing to new college graduates.

Of course, it's important for students to note that the job markets in these cities are extremely competitive. And since they're so popular for young people, even scoring an interview for an entry level job will be fierce. So, if you preferred beer pong over books, these might not be the cities for you.​

The best cities for the class of 2014:

1. Washington, D.C.; Median Income for College Grads: $60,104

Though the nation’s capital is one of the more expensive places to live, it also has some of the highest wages. Recent college grads in D.C. earn, on average, $60,104, the second highest annual salary in the country. Washington also has a strong job market, with many opportunities in government as well as in business, science and the arts.

2. Seattle, WA; Median Income for College Grads: $50,578

Seattle is the most educated city in the U.S.: More than 34 percent of its population holds a bachelor’s degree or higher. The top industries include aerospace, information technology, clean technology and health care. It also has one of the highest average incomes for recent college grads.

3. Minneapolis, MN; Median Income for College Grads: $46,525

Minneapolis is home to the most Fortune 500 companies per capita in all of the metro areas in the country, so there are plenty of job opportunities for recent college grads. The Twin Cities of Minneapolis and St. Paul also have one of the highest populations of young people between the ages of 20 and 29, making this area an even more appealing place for recent grads.

4. San Francisco, CA; Median Income for College Grads: $61,426:

Though San Francisco is one of the most expensive places to live, high wages and a strong job market make it incredibly attractive to new graduates. The median income for those with bachelor’s degrees is $61,426, the highest in the country. Major industries include technology, science, media and financial services. The area is home to the country’s biggest tech giants, including Google and Twitter.