Not too long ago, ambitious young professionals had to move to first tier cities like New York, Washington D.C., and Los Angeles to pursue their career goals. However, with the skyrocketing costs of rent, lower standards of living, and increased professional mobility thanks to technological advances, the attraction of major cities is on the decline. Now more and more young professionals are looking outside of the major cities to pursue their goals. One of the top ten most attractive cities pulling young professionals is Providence, Rhode Island. Between the unique history and burgeoning arts culture, the low cost of living, and abundant career opportunities, young professionals are finding everything they need right here.
A Wealth Of Job Opportunities in Providence
Before the internet and the availability of transportation, pursuing ambitious career goals required moving to an industrial hub like Wall Street, Silicon Valley, or the Beltway. Now many of the major corporations once only found in these city centers, have opened annexes or moved their headquarters to smaller towns for lower overhead and favorable tax breaks. So now finding a good job in a city like Providence is much easier. In fact, because of Providence’s ideal professional climate, the unemployment rate is at 4.4% which is .3% lower than the national average. With new flight lines being added to T.F. Green airport and Rhode Island Commerce Department awarding new taxes breaks to attract large technology companies in 2017, it is likely that the unemployment rate will be even lower over the next few years.
The Attraction Of A Lower Cost Of Living
Another major reason Providence is attracting more young professionals is the low cost of living. The average one bedroom apartment is $880/month compared to $3,000/month in New York, $2,000/month in Washington D.C., and $1,440/month in Los Angeles. The lower cost of living is also really attractive to first time home buyers which an average starter home costing $169,500 in Providence compared to $690,000 in New York City. The massive difference in the cost of living has a severe impact on the quality of life for young professionals and many are opting to live in Providence over a major city because they can save money on rent and pursue the dream of homeownership easier.
Providence’s Cultural Attractions
Beyond just job opportunities and a lower cost of living, there’s another big attraction for young professionals to relocate to Providence. Providence has a booming arts scene and has even been nicknamed a “Creative Capital” in the United States. Between the educational institutions, the thriving art scene, and a thriving nightlife with 18 bars per capita, there are a lot of fun things for young professionals to do in their off time. The arts and nightlife in Providence is incredibly competitive with the cultural activities found in larger cities.
With all of these advantages, it’s no wonder that Providence was name the 4th best alternative city for young professionals. With a low unemployment rate, a great cost of living, and plenty of things to do on the weekends, more young professionals are choosing to skip the hassles of the big city and instead pursue their ambitions here and we could not be more thrilled to have them.