Rising costs force recent graduates to seek creative housing solutions (includes video story)

As the cost of living continues to rise in major cities, recent college graduates are finding it increasingly difficult to secure affordable housing. For many, the dream of living independently after graduation is being replaced by the harsh reality of high rent and other financial obligations. This issue is especially prevalent in cities like Washington, D.C., and Miami, where rent prices are significantly above the national average.

Kennedy Gill, a recent graduate from Florida State University, moved to Washington, D.C. to pursue a job opportunity. After landing a full-time position, she quickly realized that living alone was not feasible given her salary.

“When I was looking to move to the D.C. area, I was looking at a much smaller salary and knew immediately that living on my own was not going to be feasible with the cost of living here,” Gill explained. “[It] was only about $28,000 for the year.”

In addition to rent, Gill faced other financial burdens common among recent graduates. “I had my car payment as well as my student loans, and, you know, needing to be able to live and afford to eat,” she added.

According to a report from InMyArea, recent graduates would need to earn about $72,000 a year to afford rent in America’s most expensive cities. As of July 2024, the average rent in Washington, D.C. is $2,267 per month, which is 48% higher than the national average of $1,534 per month.

The situation is similar in Miami, where Emely Cajias, a graduate from Florida International University, also struggles with high living costs despite having a full-time job. Cajias works as a writer at a local news station, earns $15 an hour, and lives in the suburbs.

“I don’t have the salary to pay for me to move [to Miami] because it’s really expensive at the moment,” she said. “I already have to pay for gas because I live really far away.”

As of July 2024, the average rent in Miami is $2,078 per month, which is 35% higher than the national average. These high costs are forcing many recent graduates to live with roommates or stay with their families longer than they anticipated.

Non-traditional housing options are gaining popularity as affordable alternatives. Shipping container homes and tiny homes offer lower-cost solutions that are both sustainable and customizable. These innovative housing options provide hope for young professionals struggling to find affordable places to live.

Local governments are also aware of the affordable housing crisis and are taking steps to address it. In Miami-Dade, Mayor Daniella Levine Cava has declared an affordability crisis and released an executive directive to accelerate housing solutions for residents. The initiative aims to bring relief by expanding local protections and increasing the supply of affordable and workforce housing.

In Washington, D.C., the Inclusionary Zoning Program requires that most new residential developments include affordable housing units. Similar to Cava’s directive, the policy helps ensure that new construction projects contribute to increasing the supply of affordable homes in the city.

While the housing crisis remains a significant challenge, the combined efforts of local governments and the exploration of alternative housing solutions offer a path forward. For now, many recent graduates will continue to rely on roommates and family support, but with creative solutions and policy interventions, financial independence could be within reach.

Laura Palfrey is pursuing her Bachelor’s degree in Digital TV and Multimedia Production. With a passion for storytelling and visual media, she aspires to work in television as a news producer upon graduation. Her hobbies include photography and traveling.