Life Post Graduation Isn’t What Most Tri-state Millennials Imagined Due to High Cost of Living
The cost of living in New Jersey is the 7th most expensive in the nation and many millennials are leaving NJ . This is because we are located to one of the world’s biggest hubs, and the amazing universities in the area. This causes a lot of problems for lower income people trying to build a life in the tri-state area.
NJ.com reported that “nearly 47 percent of 18- to 34-year-olds were still living at home” as of the June 25th publication of the article. That is the highest rate in the nation.
Of those who do move out of their parent’s house either get roommates to help pay the rent or move out of the state. Nearby states like Pennsylvania have experienced a record high number of millennial migration into the state.
This article focuses on the life of a recent college grad named Dina who moved back home after college and is finding it impossible to make an independent life for herself in the tri-state area. Dina graduated from Hunter College with a BA in Political Science and expected that with some hard work the world could be hers.
She entered the job market to find entry level jobs that would not pay enough for her to pay to live in the area. Taking home $467 a week makes it impossible to live independently.
One trend that is continuing to grow for young students in the area is an increase in student loans. Students are finding themselves having to work more and more to afford to go to school.
This caused one of the issues that Dina ran into when trying to find work in the area; she did not have any work experience because she could not afford the opportunity cost of taking an unpaid internship. Most internships in that field are unpaid.
With that being said, Dina will be moving out of state in the fall. She realized on a visit that the cost of living in other states is much cheaper. She reports that she will be moving to Colorado so that she can start her adult life.
This is just one of the many case studies that shows the need for more affordable housing in the area. That is why it is important that you register and attend the 2017 Congressional Reception.