Seven Cool Cities

Forget New York. Our top towns for young professionals are both fun and affordable.

By Jane Bennett Clark, Senior Associate Editor

From Kiplinger's Personal Finance magazine, October 2005

Denver. The job market in Denver is climbing out of a recession, but that hasn't deterred young, educated singles from flocking here. As in Atlanta and Austin, "they want a community that has amenities first, and they want a job second," says Rebecca Ryan, of Next Generation Consulting. Among Denver's attractions are its pub-and-club-packed downtown, known as LoDo; a good light-rail system; a top-20 ranking for free Wi-Fi; and a little playground known as the Rocky Mountains. With a glut in the rental market and an affordable-housing program, even the young and the (relatively) broke can grab a center-city Victorian cottage or an industrial loft with a panoramic view.

Where to rent: Lower Downtown (LoDo), Highland, West Highland
What you'll pay: $700-$800 a month for a one-bedroom, $900-$1,200 for a two-bedroom; under the housing program, $800 for a one-bedroom loft
What you just missed: a two-bedroom bungalow in the Highlands, $1,400
Where to be at 11 p.m.: Tryst Lounge, Vinyl, hi-dive, Larimer Lounge
Not-in-NYC bonus: $11,686

Minneapolis. Theaters, museums, parks and lakes keep Minneapolis's many college grads sharp and in shape. The city ranks in the top ten for Wi-Fi hot spots and owes its below-average unemployment rate to a diverse job market, which includes the University of Minnesota and several hospitals. Bohemians live and play in the northeast part of town; partygoers congregate along First Avenue (and at the nightclub where the guy who is once again known as Prince filmed Purple Rain). Memo to erstwhile Manhattanites: Bring your mittens.

Where to rent: Uptown, Northeast, North Loop
What you'll pay: $600-$700 a month for a one-bedroom, $800-$1,100 for a two-bedroom
What you just missed: a three-bedroom house with all-natural woodwork in Uptown, $1,250
Where to be at 11:00 p.m.: First Avenue, Poodle Club
Not-in-NYC bonus: $11,800

Nashville. With an aggressive strategy for recruiting companies, Nashville added 10,600 new jobs in 2004 alone. But its coolness quotient comes from the $2-billion-plus music business, which includes recording and video production. "The people in that industry are very high-income, young and hip," says Janet Miller, of the Nashville Area Chamber of Commerce. Students rent in the Belmont/Hillsboro area, near Vanderbilt University, and young professionals can buy fixer-uppers starting at about $125,000 in Historic Edgefield or Lockeland Springs. The nightlife is full-time in Music City. Head downtown for the honky-tonk, or hit Five Points for the clubs and bars.

Where to rent: Hillsboro/Belmont, West End, Sylvan Park, Green Hills, downtown
What you'll pay: $600-$900 a month for a one-bedroom, $1,000-$1,300 for a two-bedroom, loft or small house
What you just missed: a two-bedroom, two-bath condo with a gas fireplace in Hillsboro, $1,250 Where to be at 11 p.m.: Bound'ry, Exit/In, Mercy Lounge Not-in-NYC bonus: $11,335

Raleigh. Part of the Research Triangle (including Durham and Chapel Hill), Raleigh is as hot as it gets, thanks to a healthy job market, a billion-dollar downtown rehab, top universities and plentiful, inexpensive housing. About two years ago, Tom Augur, a 27-year-old certified public accountant, left Boston for Raleigh's small-city atmosphere. His three-bedroom townhouse cost $150,000. "I would have gotten 50% less in Boston and paid more than twice as much," he says. Young locals eat sushi and listen to blues in Glenwood South, or hit dance parties in the Warehouse District.

Where to rent: Duraleigh Road, Cameron Village, downtown
What you'll pay: $650 a month for a one-bedroom, $750 for a two-bedroom, $750-$950 for a two-bedroom house
What you just missed: a two-bedroom apartment in a Tudor-style house near Cameron Village, $650
Where to be at 11 p.m.: Lincoln Theatre, Martin Street Music Hall
Not-in-NYC bonus: $9,218

-- Research: Elizabeth Kountze

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