Get ahead in a starter city

Favorite cities for young adults

Kiplinger researched the best cities in the U.S. and came up with picks for different stages in life, from young singles to retirees. We looked at affordability, income growth, diversity and the so-called creative class -- how many scientists, engineers, architects, educators, writers, artists and entertainers call that place home. For singles, we also looked for places with plenty of things to do. For young families, we also looked at crime rates.

The top cities for young professionals:

• Washington, D.C.

• Denver

• Austin, Texas

• Raleigh, N.C.

• Lexington, Ky.

The top cities for young families:

• Atlanta

• Minneapolis/St. Paul

• Des Moines, Iowa

• Provo, Utah

• Green Bay, Wis.

Get more information on our criteria, and the crucial cost-of-living stats for each city in our Best Cities for Young Singles and Best Cities for Married With Kids slide shows.

Make a plan

As for my husband and me, we don't plan to stay forever in Baltimore -- probably five years tops. We figure that's long enough to get our finances on the right track. In fact, we've been here only two months and we've already boosted our savings with the money we're saving on rent -- and we just bought a house.

So far, we're already on a better financial path and living a more-comfortable lifestyle.

I know the decision to move may not be easy. Many young adults choose their addresses to be near friends and family or because they received dream job offers. I'm not saying that everyone should cut all ties and run. But if it makes sense for your personal situation, a short-term relocation could pay off big.

It boils down to this: You can choose to scrape by in certain metropolitan areas, or you can build a financial foundation in an affordable starter city. If you can help it, don't let your address stand between you and your goals.

This article was reported and written by Erin Burt for Kiplinger's Personal Finance Magazine.

Published Oct. 18, 2007

MORE: HOME PRICES - BEST CITIES - HOME LOANS - FINANCIAL TIPS - COST OF LIVING

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