Graduating from college? Move to Harrisburg, study says

Recent college graduates might want to consider relocating to the Harrisburg area, according to a study by Realtor.com’s data team that ranked the capital city among the top-five cities for new degree-holders to live in.

And local realtors agreed, citing the affordability of homes on the market, as well as Harrisburg’s proximity to recreation destinations and larger cities like Baltimore, Philadelphia and Pittsburgh.

“It actually really hits home for me,” said 27-year-old realtor Jordan L. Collier, who chose to remain in the Harrisburg area over moving back to her home state of California. “It’s just so much more affordable than other places in the country.”

Harrisburg ranked fourth on Realtor.com’s list, with list-makers touting its plentiful job market, specifically when it comes to government and government-related gigs.

“But Harrisburg’s biggest draw is affordability,” list-makers said, highlighting the area for its real estate market, which they claim includes numerous older homes valued at less than $150,000.

The national median is $300,000, according to Realtor.com officials.

“We are seeing a lot of first-time buyers coming here because of that,” Collier said.

Collier of Coldwell Banker said she often deals with younger buyers in the Harrisburg area, and when a new home is placed on the market, it is not uncommon to see multiple bidders or bidders offering more than asking price.

In part, that is due to Harrisburg’s location along the river and interstate highways, which provides unique recreational activities while offering easy access to places like Lancaster and Hershey, Collier said.

“There is a good amount to do,” she said.

Coldwell Banker sales associate Eric Hoffer agreed with that assessment.

“It’s a cool place to live,” he said, before also pointing out the low housing prices. “It’s hard to find a good place for under $150,000.”

The Realtor.com study looked at the country’s 100 largest metropolitan areas, ranking them based on a list of metrics, which are listed below:

• Unemployment rates
• Median income for households with residents between 25 to 34 years old
• Incomes for residents with bachelor’s degrees
• Five-year wage growth
• Percentage of college graduates
• Percentage of single people
• Median one-bedroom apartment rent prices
• Median home prices
• Housing affordability
• Recreation, including nightlife, bars, gyms and social clubs

It does not appear to include other factors like crime rates or traffic and crash data.

The top five cities for new college graduates, according to Realtor.com, are listed below:

1. Madison, Wis.

List-makers highlighted the area’s fast-growing start-up business, as well as its young population, which is ripe for budding relationships.

• Median list price: $330,000
• Unemployment rate: 2.4 percent
• 5-year wage growth: 21.1 percent

2. Austin, Texas

List-makers highlighted the area as an “affordable tech hub," with inexpensive housing and " fantastic beer and food scenes."

• Median list price: $360,000
• Unemployment rate: 3 percent
• 5-year wage growth: 24.2 percent

3. Columbus, Ohio

List-makers highlighted the area for its “surge in young professionals” and its walkability.

• Median list price: $250,000
• Unemployment rate: 3.8 percent
• 5-year wage growth: 18.7 percent

4. Harrisburg, Pa.

List-makers highlighted the area for its “affordability" and its plentiful job market.

• Median list price: $219,100
• Unemployment rate: 3.5 percent
• 5-year wage growth: 18.9 percent

5. Grand Rapids, Mich.

List-makers highlighted the area as a place to “get a good job, pay little rent, and have all those big-city amenities.”

• Median list price: $295,100
• Unemployment rate: 2.9 percent
• 5-year wage growth: 21 percent

The full Realtor.com list can be seen by clicking this link.