Here are the top 10 rental markets for recent college grads

FILE-New college graduates celebrate the conclusion of their university's undergraduate commencement at Fenway Park by throwing their caps in the air. (Photo by Matthew J. Lee/The Boston Globe via Getty Images)

New college graduates are preparing to embark on life in the real world now that they have their degrees. And one of the major life decisions is figuring out where to settle down. 

Given the skyrocketing housing costs of renting or owning a home and finding a quality job out of school, this may seem bleak for recent grads. But a new report from reveals these affordable options in different regions of the U.S. 

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In their report, the online real estate site ranked 313 cities and towns with a population of more than 75,000 located within the 50 largest areas as the best places to live for new graduates, targeting specific categories like rental affordability and availability, job opportunities, average commute time, the number of college grads in the city, and the lifestyle and social scene. 

Here are the top 10 rental markets.

Top 10 rental markets

  1. Austin, TX
  2. Bloomington, MN
  3. Pittsburgh, PA
  4. Raleigh, NC
  5. Overland Park, KS
  6. Richmond, VA
  7. Scottsdale, AZ
  8. Beaverton, OR
  9. St. Louis, MO
  10. Atlanta, GA

The top 10 markets are in areas with an average rent-to-income ratio of 22.5% for households between ages 25 and 34. 

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Separately, Bloomington, Minnesota, located within the Minneapolis-St. Paul-Bloomington metro area was the most affordable on the list, with the rent-to-income ratio sitting at 19.9%. 

And Overland Park and St. Louis within the Kansas City metro area were also among the most affordable, with rent-to-income ratios sitting at 20.7% and 21.7%, Jiayi Xu, a economist who wrote the report, tells FOX Business

FOX Business contributed to this report. This story was reported from Washington, D.C.