Austin, Texas
Metro population: 1,705,075
Cost-of-living index: 97 (average is 100)
Median monthly rent (includes utilities): $864, nat. average+$819)
Average annual wage: $41,380 (as of 2007)
Unemployment rate: 6.9%
Percentage of Gen Y residents: 30%
Top employers: Austin School District, Dell, city and federal government, IBM, Seton Healthcare Network, St. David's Healthcare Partnership, University of Texas at Austin
Austin has the fourth-lowest jobless rate among cities with populations of one million or more. Living costs fall below the national norm. It doesn't hurt that this is the capital of Texas and home to eight colleges and universities, including the University of Texas. Austin's cultural scene is exceptional, with two giant music festivals each year, a vibrant nightlife, and eclectic, up-and-coming neighborhoods, There's certainly more than enough here to keep a recent grad busy.
PROS: Below-average cost of city living, hundreds of bars and music venues for the twenty-something set, reasonable rent
CONS: Long, hot summers, accelerating urban sprawl, limited public transportation (though the average drive will last only 23 minutes)
-Provided by By Caitlin Dewey, Kiplinger.com
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