Connecticut and New York ranked among the top states for new college graduates to proceed with their careers and adult lives, according to a studystudystudy released by GOBankingRates.com.
Connecticut placed fifth among the states, due to its 3.3% unemployment rate for people with a college degree and the nation’s second-highest median income for that group at approximately $62,000. The study found the median home price for the state was $314,900 and determined it would take 10.17 years to afford a down payment, while the median rent was $1,750.
New York ranked 17th on the list, weighed down by a high median rent of $3,200 and the need to devote 67.5% of one’s income to rental housing. Nonetheless, the state was praised for a median income of nearly $57,000 for new college graduates and an unemployment rate of 3.5% for residents with a college degree.
GOBankingRates.com named Maryland as the best state for new college graduates, with Nevada placing last.
The criteria for the study included median income for someone who earned a bachelor’s degree, rent-to-income ratio, median home prices, the number of years it will take a college graduate to stop renting and own a home, job availability and the percent of jobs available for college graduates, and livability and quality of life.