The Top 10 Rental Markets for Recent College Graduates

As the U.S. housing market continues to struggle, more and more people are choosing to rent instead of buy as they wait for interest rates to drop and housing inventory to increase. Obviously, this is great news for real estate investors who own rental properties. If you’re a recent college graduate, which a large portion of the rental market is made up of, you may wonder where you should move to next. Here’s a look at the ten best rental markets for recent grads in the United States.

One of the most under-reported aspects of the ongoing real estate crisis in the United States involves the impact that high interest rates and record-low inventory levels are having on college graduates. In the past, part of the American Dream involved graduating college, buying a home, and starting a career. With so few homes on the market in 2024, and interest rates continuing to hover between 7% and 8%, homeownership simply isn’t realistic for many people who are getting started on the rest of their lives.

With this in mind, it’s becoming more and more common for recent college graduates to rent a home until they decide what’s next for them. Ideally, the real estate market will level out at some point in the next year and homeownership will become possible for the millions of people who have been waiting in the rental market.

In the meantime, you may find yourself wondering where you should take your new college degree, plant roots, and start the rest of your life. Here’s a look at the top ten rental markets for recent college graduates in the United States.

Austin, Texas