Washington D.C. Tops Grads with $79,857 Pay and $320K Home Prices
Redfin under Rocket Companies ranks Washington, D.C. best big city for grads with $79,857 average early-career pay and $320,000 median starter home price requiring 4.2 years to save a down payment. New Orleans and Springfield, IL lead medium and small cities with $57,414/$59,925 earnings and $175,000/$128,000 home costs.
1. Report Overview
Redfin, a subsidiary of Rocket Companies, published a ranking of U.S. metro areas for recent college graduates based on housing affordability, early-career earnings and quality-of-life metrics. The analysis pairs proprietary housing data with salary and employer ratings to evaluate where entry-level paychecks go furthest.
2. Big City Results
Washington, D.C. leads big-city rankings with average early-career earnings of $79,857 and a $320,000 median starter home price, translating to a 4-year, 2-month timeline to save for a down payment and monthly housing costs consuming roughly one-third of income.
3. Medium and Small City Leaders
New Orleans tops mid-sized metros with $57,414 in earnings and a $175,000 home price requiring just over 3 years to save, while Springfield, IL leads small cities with $59,925 earnings and a $128,000 starter home cost needing 2 years, 3 months for a down payment.
4. Implications for Rocket Mortgage
Highlighting affordability and career opportunities in key markets may drive increased engagement with Rocket Mortgage services as new graduates seek competitive loan options and streamlined homebuying solutions in the featured cities.