From Graduation to Owning A Home

From Graduation to Owning a Home – Where you should Settle after College 

The American Dream isn’t complete without a home you can call your own. However, the reality of living the American Dream starts way before you sign on the mortgage papers.

For instance, the salary potential of your degree plays a critical role in deciding what kind of lifestyle you can afford. And the real estate market decides which city you will eventually call home.  

Here is a breakdown in numbers of five cities in the US (in no particular order) where your degree can make you a homeowner.

San Francisco, California – City by the Bay

 

The progressive and inclusive culture of San Francisco will have you in love with this city in no time. Being the birthplace of gay rights and the counterculture movement, the city welcomes all kinds of people from different parts of the world. On top of that, it is a neighbor to the famous Silicon Valley, which would be ideal if you have a career in technology. The city also offers a great outdoor lifestyle, tremendous amounts of natural beauty and the perfect, mild weather. San Francisco offers great food as well with tons of good restaurants to try. The city is a gastronomic hub for the adventurous. The arts and culture along with professional sports make San Francisco a place anyone would want to call home. San Francisco ranks at 31 out of 189 on Time’s list of Happiest and Healthiest Cities in America.

Even though the real estate here is a bit pricey, the city continues to attract new residents all year round.

Median Home Price

Monthly Mortgage Payment

Salary Needed

Professions

Duration of the degree

$835,400

$3,550

$152,000

Anesthesiologists ($208,000)

Master’s Degree (2 years)

Nurse Anesthetists ($205,710)

Master’s Degree (2 years)

Chief Executives ($208,000+)

Master’s Degree (2 years)

 

Los Angeles, California – La La Land

 

Los Angeles is full of diverse cultures and people of all ethnicities. It has a 47.9% Hispanic/Latino population with 27.5% Caucasians, along with a small percentage of Asians, Africa-Americans and American Indians. The overall culture of the city is pretty laid back and people here are very relaxed, unlike in high-powered cities like New York. On top of that, the population here is health-conscious and yoga is considered almost a way of life. The food scene in Los Angeles is pretty great as well, as there is a rich diversity of cuisines – Thai, Korean, Asian, Italian, Persian, Chinese, Armenian and so on. Whether you want sushi, burgers or pizza, Los Angeles offers the best of everything. With a Mediterranean climate, Los Angeles offers a break from the harsh winters of Maine, Vermont and New York.  

You don’t need to be a movie star to live in Los Angeles, other professions do well here too. Los Angeles ranks at 53 out of 189 on Time’s list of Happiest and Healthiest Cities in America.

Median Home Price

Monthly Mortgage Payment

Salary Needed to Buy

Professions

Duration of the degree

$536,700

$2,336

$100,000

Marketing Managers ($142,290)

Software

Master’s Degree (2 years)

Computer Network Architects ($119,830)

Bachelor’s Degree (4 years)

Developers, Applications ($107,240)

Bachelor’s Degree (4 years)

 

Miami, Florida – Gateway to the Americas

 

One of the best things about Miami is the affordable real estate. If you can spare around $1,500 per month, you can afford a condo with 15ft high ceilings, right across the AmericanAirlines Arena. The taxation is a lot better here as well, as there is no tax on income, inheritance and estate – so you end up taking more home. The city is also open to diversity and new cultures and has great weather all year round. The health care services here are top-notch – the city ranks at number 35 out of 189 on the Time’s list of Happiest and Healthiest Cities in America. What makes Miami even more attractive are the beaches - Miami Beach, South Beach and Virginia Key Beach.

But that isn’t the only form of entertainment available here – the entertainment scene in the city is quite happening with countless events all year round.

Median Home Price

Monthly Mortgage Payment

Salary Needed to Buy

Professions

Duration of the degree

$315,000

$1,513

$65,000

Biomedical Engineers ($76,480)

Bachelor’s Degree (4 years)

Budget Analysts ($68,260)

Bachelor’s Degree (4 years)

Physical Therapist ($74,660)

Doctoral Degree (4-5 years)

 

Dallas, Texas – D Town

 

Dallas attracts almost 300 new residents every day and for a good reason. The city offers the right employment opportunities and has created more than 400,000+ jobs since 2008 recession. The affordable home prices add one of the reasons young professionals are moving to Dallas. The Dallas Cowboys and a downtown area packed with exciting things to see and do, offers an added incentive of moving to this city. With an average monthly mortgage of $1,255, you can certainly make the most of your earnings here. Add to that, the vibrant energy of the city, Dallas is also classified as the largest urban district in the US.

Home to the wonderful Dallas Museum of Art, Dallas is ranked at 55 out of 189 on Time’s list of Happiest and Healthiest Cities in America.

Median Home Price

Monthly Mortgage Payment

Salary Needed to Buy

Professions

Duration of the degree

$230,500

$1,255

$54,000

Network and Computer Systems Administrators ($88,790)

Bachelor’s Degree (4 years)

Food Scientist and Technologists ($85,990)

Bachelor’s Degree (4 years)

Fundraisers ($55,930)

Bachelor’s Degree (4 years)

 

San Antonio, Texas – Countdown City

 

San Antonio has one of the strongest job markets in the US, and is home to five Fortune 500 companies. The city also offers affordable housing. Diversity in the local cuisine and a buzzing nightlife are a few reasons why people flock to this city. Sports fanatics would fit right in and would love supporting the Spurs – the team that has won five NBA Championships since 1999. Even if you’re not a basketball fan, there are plenty of other teams here to support. The city’s music scene is perfect for audiophiles. San Antonio also has two spectacular art museums and on the first Friday of every month, art lovers gather to enjoy festivals that feature beautiful art pieces, delicious food and lots of talented individuals.

The city ranks at number 24 out of 189 on Time’s list of Happiest and Healthiest Cities in America.

Median Home Price

Monthly Mortgage Payment

Salary Needed to Buy

Professions

Duration of the degree

$212,300

$1,127

$48,500

Energy Auditors ($71,590)

Post-Secondary Certificate (6 months – 1 year)

Non-Destructive Testing Specialists ($62,730)

High School Diploma or Equivalent            (4 years)

Instructional Designers and Technologists ($67,730)

Master’s Degree (2 years)

 

Cities all across the US are full of wonderful opportunities and amazing lifestyles. The journey from graduation to home ownership is one you need to map out and execute very carefully. This kind of basic level planning about your future can help you live a quality life in the long run.

*Salaries for all professions are city-specific annual figures taken from O*Net Online.

*The median home price and mortgage payment figures are courtesy of Business Insider.

*The happiness index is taken from Time Magazine’s list of Healthiest and Happiest Cities in the US  

 

 

 

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