Zillow ranks Colorado Springs no.1 on their list of best U.S. cities for recent college graduates

As graduation season draws to a close, Zillow, the leading real estate and rental marketplace, created a list of the best metropolitan areas for recent graduates in the country. Number one on the list: Colorado Springs! The rankings are based on rent-to-income ratio, average salary for recent college grads, job openings, and the share of the population in their 20s.

The Zillow report states that Colorado Springs is “the top market for college grads in 2023, exemplifying how markets with a smaller population, relatively affordable rents and lots of career prospects contribute to a high quality of life for individuals beginning a new phase in their lives.” In its story on the report, MSNBC specifically noted that Colorado College is one of the assets, offering “employment opportunities to their own recent grads and graduates of nearby colleges.”

“The Zillow study confirms what we have all seen and experienced in Colorado Springs over the last eight years,” says Bob Cope, the city’s Economic Development Officer. “Colorado Springs is indeed a great place for college graduates to settle and begin their careers.” In a press release, Cope states, “There is a nationwide competition among cities for these young and talented workers. Colorado Springs is winning this competition through creating economic vibrancy, opportunity, and a great quality of life. Our city is attracting significant new investment by great companies that are creating thousands of new jobs. Many of these jobs are in high tech industries, are high paying, and are a good fit for college grads due to the technical skills needed.”

The Zillow report comes on the heels of the city’s launch of the Accelerate COS - Small Business Loan Fund program. In partnership with Exponential Impact, the program will provide access to capital for Colorado Springs small businesses to help local companies grow and thrive.

“Accelerate COS will fill a need in the local ecosystem and provide low barrier loans for innovative small businesses with a good business model and opportunity for growth,” says Colorado Springs Mayor, John Suthers. The new program will offer even more opportunity for new graduates in the area to explore their professional goals.

“When you combine economic opportunity with our natural beauty and active outdoor lifestyle, we become very attractive to college graduates and the great employers who follow them here,” Cope says.

The Zillow index calculates that, in the Springs, the typical recent graduate can expect to make around $63,000 annually. While the typical graduate will spend about 35% of their income on rent without roommates.

“The number one thing that any community can do to keep rents competitive, is to create an environment that encourages new construction of apartments and housing in general. Colorado Springs is doing that,” Cope says. “When you combine this with abundant high paying jobs, the result is a winning formula for college graduates.”

Most CC graduates will agree, Colorado Springs is a great place to go to college. The experts now agree that it’s a great place to stay after you’re done.

(Rounding out the top five on the list behind Colorado Springs are Spokane, WA; Des Moines, IA; Phoenix, AZ; and Buffalo, NY.)