By Nora Tooher
Young couples may want to consider a move to Columbus. The city was named one of the “best cities for young couples,” at least financially and socially.
Reasoning that young couples often have a lot of financial burdens – from student loans and car payments to wedding expenses and first homes – the study considered average mortgage rates and unemployment statistics.
And because young couples usually want to hang out with other young couples, the authors factored in U.S. Census data to determine the percentage of married couples with children under 18, as well as the percentage of the population between the ages of 25 and 34.
Columbus was ranked No. 6, with a 4.28 percent average mortgage rate for a conventional loan and a 6.1 percent unemployment rate. Also in Columbus’s favor is that 14.8 percent of the population is between 25 and 34; 6.7 percent of the population is under 5 years old and 20 percent of the population consists of married couples with children under 18.
As the home of Ohio State University, one of the largest universities in the United States, “Columbus clearly has an advantage in terms of the supply of young couples,” the article notes. “With good mortgage rates and job prospects, it’s easier to get started in the Arch City than in many other cities.”
In 2012, Forbes named Columbus the best city for working mothers, beating out other major Midwest cities, including Cleveland, Milwaukee, Indianapolis and St. Louis.
Houston claimed the No. 1 spot as the best city for young couples. Married couples with children under 18 make up 24 percent of the population there; Houston also boasts a low unemployment rate – 5.9 percent – and low average mortgage rate of 4.13 percent.
With more than 11,000 restaurants, 500 cultural and performing arts organizations and 40 higher-ed institutions, Houston has Texas-sized arts and entertainment options for young couples.
Two other Texas cities, Dallas and San Antonio, followed Houston as the best cities for young couples. Seattle was fourth, and Denver was fifth. Boston was No. 7, followed by Portland, Ore.; Tampa, Fla., and Indianapolis.