Data from the National Association of Collects and Employers shows that the average starting salary for college grads in 2020 was approximately $55,000, an increase of 14 percent from 2010. Not bad.
Meanwhile, Apartment List reports that apartment rents have risen 16 percent in the last year alone and 28 percent since 2017. Not good.
Many college grads are taking on roommates to help defray the cost.
With competition for affordable units very high, many property owners are requiring cash savings and stable work histories which recent graduates often can’t supply.