Introducing CRE MBA—self-paced online courses taught by industry experts for CRE professionals.

21 U.S. Cities Are Attracting The Most 2024 College Graduates

Two-thirds of 2024 U.S. college graduates settled in 21 cities, a sign of the evolving landscape of the U.S. office market.
21 U.S. Cities Are Attracting The Most 2024 College Graduates
  • A new analysis by JLL links recent graduates’ decisions on where to live with the future strength of office markets.
  • New York City, Los Angeles, San Francisco, Boston, and Chicago are among the top 21 cities attracting the most graduates in 2024.
  • Graduates are factoring in the cost of living, with smaller markets and suburban areas seeing growing popularity due to affordability.
Key Takeaways

The Class of 2024’s choice of where to live and work after graduation could have long-term implications for office markets, as reported in Globest.

The decisions made by these grads—busy balancing cost of living, career opportunities, and office attendance expectations—may shape the future of the U.S. office market for many years to come.

Shaping The Future

A new analysis by JLL shows that two-thirds of recent graduates are settling in the nation’s top 21 talent hubs, which are expected to shape the long-term future of the U.S. office market.

Many of the 1.64M graduates of the class of 2024 will establish their careers in their chosen cities and remain there long-term, influencing both the quantity and quality of office spaces in these areas.

Notably, the class of 2024 is the first post-pandemic group expected to attend offices regularly at the start of their careers, creating a direct link between graduate migration patterns and office market demands.

Top Cities For Grads

The top 21 cities attracting recent graduates include NYC, LA, San Francisco, Boston, Chicago, DC, Atlanta, Philadelphia, Seattle/Puget Sound, Houston, Dallas-Fort Worth, Austin, Denver, Miami/South Florida, San Diego, Phoenix, Raleigh-Durham, Orlando, Charlotte, Detroit, and Pittsburgh. 

These cities outperformed the rest of the nation when it came to attracting new talent, with all roads once again leading to the Big Apple, which added 47.8K new graduates in 2024.

Cost Considerations

Unsurprisingly, the cost of living is an increasingly important factor for graduates. In 2024, the average cost of living in cities that attracted a growing share of graduates was 103.5, compared to an average of 114.9 in cities that saw their share of graduates decline. 

Many graduates are also opting for suburban lifestyles, with fewer moving to principal cities and many more seeking affordable suburban areas within a reasonable commuting distance of urban cores.

What’s Next

As the post-pandemic job market continues to evolve, the cities chosen by new graduates will make their mark for years—or perhaps even decades—to come. 

The tug-of-war between remote work flexibility and in-office requirements, along with the need for affordable living options, will remain key considerations for the class of 2025 and beyond.

RECENT NEWSLETTERS
View All
Life Companies Lead Strong Comeback in CRE Lending for Q3
November 12, 2024
READ MORE
Multifamily Construction Starts Drop 50%, But Pipeline Remains Strong
November 11, 2024
READ MORE
Rising Double Defaults Test Banks’ Commercial Loan Stability
November 8, 2024
READ MORE
Blackstone Moves to Take ROIC Private in $4B Deal
November 7, 2024
READ MORE

podcast

No CAP by CRE Daily

No Cap by CRE Daily is a weekly podcast offering an unfiltered look into commercial real estate’s biggest trends and influential figures.

Join 65k+
  • operators
  • developers
  • brokers
  • owners
  • landlords
  • investors
  • lenders

who start their day with CRE Daily.

The latest news and trends in commercial real estate delivered to your inbox. Get smarter about what matters in just 5-minutes or less.