NEW YORK (MainStreet) — For new grads transitioning from life on their college campuses out into the real world, life can certainly become intimidating. As they break free from being a student and begin the next phase of becoming a professional, finding a job that actually utilizes the degree that they just received (and are probably still paying for) becomes a top priority. As if the job hunt isn't time-consuming enough, new grads are also faced with the struggle of finding an inexpensive—yet still decent—apartment, while still being able to afford the average necessities, like food.

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The teams over at sister sites Homes.com and ForRentUniversity.com have compiled this list of the ten most favorable cities for college grads to live, based on multiple factors such as average entry-level income and median price for a one-bedroom apartment. Does your city make the cut? Read on to find out...

1. Atlanta, Georgia.With the average salary for recent college graduates being 21% higher than the national average, it isn't hard to believe that Atlanta makes the number one spot. This city also has the lowest average rent cost, tied with Raleigh, N.C. and Houston, Texas. In addition to these financial perks, Atlanta's close proximity to 19 colleges and universities make it convenient for those who wish to further their education. Also, Atlanta is the global headquarters of corporations including The Coca-Cola Company, the Home Depot, Delta Airlines and UPS.

  • Mean entry level income: $43,000
  • Median price for a one-bedroom apartment: $800
  • Unemployment Rate: 6.9%
  • 19 nearby colleges/universities

2. Dallas, Texas. Primarily recognized for its involvement in sports, Dallas tends to attract those looking to get involved in professions related to athletic events and entertainment. However, it also boasts an affordable rent, as well as an 8.67% rental vacancy rate, which means that these low-rent apartments are not that hard to come by.

  • Mean entry level income: $38,000
  • Median price for a one-bedroom apartment: $900
  • Unemployment Rate: 5.8%
  • 17 nearby colleges/universities

3. Houston, Texas. Offering one of the highest average incomes for entry-level jobs, Houston is another big city in Texas that is an attractive living spot for new grads. Houston is also home to 24 Fortune 500 companies, making it one of the more promising states for young people looking to make their way into the professional job market.

  • Mean entry level income: $41,000
  • Median price for a one-bedroom apartment: $800
  • Unemployment Rate: 5.7%
  • 14 nearby colleges/universities

4. St. Louis, Missouri. Noted the happiest place for post-graduates on the Forbes 2012 list, St. Louis has many money-saving perks among the affordable cost of living and overall happiness of its professionals. It stands to note that St. Louis offers free entry into the majority of its art institutions, science exhibits, museums, theaters, and zoos, making it a prime location for recent college graduations to still have a social life while on a budget.

  • Mean entry level income: $38,000
  • Median price for a one-bedroom apartment: $960
  • Unemployment Rate: 8.2%
  • Seven nearby colleges/universities

5. Minneapolis/St. Paul, Minnesota.Over 82,000 Minneapolis residents fall within the 25 to 34 age group, making it an ideal spot for those fresh out of college to find a place in which they can mesh easily into social circles. Minneapolis also has prime rental real estate, with over 50% of homes being listed as rentals rather than purchases. With its dynamic music, art, theater, and literary scene, it's no surprise that Minneapolis takes a spot on this list.

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  • Mean entry level income: $32,000
  • Median price for a one-bedroom apartment: $900
  • Unemployment Rate: 5.0%
  • Ten nearby colleges/universities

6. Raleigh, N.C. With Raleigh as the location of three universities, the "small town" feel of the city combined with its young population makes it a very desirable place for younger generations to launch their careers in the professional world. Its low cost of living and its mild year-round climate are two other primary attractions that are sure to entice new grads.

  • Mean entry level income: $35,000
  • Median price for a one-bedroom apartment: $800
  • Unemployment Rate: 6.2%
  • Ten nearby colleges/universities

7. Denver, Colorado. Like Dallas, Denver offers a lot of job opportunities in the way of athletics. When it comes to professional sports teams and all of the entertainment that goes along with it, Denver has it all. The city is also home to the most bars per capita, in addition to an upbeat and affordable social scene that is sure to entertain young college graduates.

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  • Mean entry level income: $35,000
  • Median price for a one-bedroom apartment: $970
  • Unemployment Rate: 6.5%
  • Nine nearby colleges/universities

8. Seattle, Washington. Home to the headquarters of many popular companies such as Starbucks, Nordstrom, Microsoft, and Amazon, college graduates are flocking to the city of Seattle for the endless entry-level job opportunities. The coastal views, lush forests, and untouched wildlife preserves that are all present within Seattle do wonders for the mind as well as appeal to the eye.

  • Mean entry level income: $39,000
  • Median price for a one-bedroom apartment: $1,300
  • Unemployment Rate: 6.0%
  • Ten nearby colleges/universities

9. Boston, Massachusetts. While the average cost of rent is higher than most of the others on this list, Boston is still a top choice for new grads for many other reasons. The city boasts one of the largest populations of residents within the 18 to 24 age group, and with all of its popular museums, parks, rooftop lounges, and clubs, there is something to do for everyone. The mean entry-level income also ties for the highest spot with Washington D.C.

  • Mean entry level income: $46,000
  • Median price for a one-bedroom apartment: $1,590
  • Unemployment Rate: 5.9%
  • 21 nearby colleges/universities

10. Washington, District of Columbia. The combination of a very low unemployment rate with one of the highest mean entry-level salaries makes Washington, D.C. a prime place for new grads to enter into the professional world. While most of the residents in this city are employed by the federal government, there are still a ton of options for employment, especially in the technology, international business, and hospitality fields.

  • Mean entry level income: $46,000
  • Median price for a one-bedroom apartment: $1,600
  • Unemployment Rate: 5.1%
  • Six nearby colleges/universities

--Written by Ciara Larkin for MainStreet