A new analysis suggests college graduates are leaving some of the costliest metropolitan areas and instead moving to other metropolitan areas:
Looking at these two lists, several things stand out:
- Among the most expensive cities, not all have turned negative regarding college graduates moving in or out. What is different in Boston, Honolulu, Miami, San Diego and Seattle? (Some possible factors: different economic activities, the weather, relative prices, their locations within certain regions, they are not the biggest cities.)
- Some of the 41 other large metros are clearly more attractive than others for college graduates. This includes Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Jacksonville, Las Vegas, Nashville, Phoenix, Portland, Raleigh, San Antonio, and Tampa. The Sunbelt continues to grow? Will these population changes in these cities change the conditions within these cities? Are these the current hot places to be (subject to change)?
- Other large metro areas might have cheaper housing and lower costs of living but they are not necessarily attracting college graduates. This includes Buffalo, Detroit, Hartford, Milwaukee, and Rochester. Is it a coincidence that these are Rust Belt metropolitan regions?
Generally, cities and regions want college graduates who can add to the population and the human capital available. But, the sorting of the college graduates across locations could have profound consequences.