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What Kinds of Homes can Certain College Grads Afford?

by Lolita Thomas

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Recent grads may fear buying a home because they are stressed from student loans and starting their lives. Some grads’ professions, though, will make them more prepared to purchase a home than others, and Realtor.com has put together a list of the maximum price an experienced grad can afford.

They used PayScale estimates on different majors’ midyear salaries, meaning the grad has 10-plus years of experience with a bachelor’s degree.

According to PayScale, a mid-career employee with a bachelor’s degree and a median salary of  $77,006 can afford a house costing $341,000. That is 60 percent more than a high school graduate. 

Careers in engineering yield the highest salaries. Post-graduation majors in chemical and computer engineering make six figures with only a few years of experience. At the top of the list was petroleum engineering; with a median salary of $168,000, these grads can afford to buy as high as $744,000.

Liberal arts and education majors makes the least median salaries. Among the lowest are early childhood and social workers. An early childhood major averages $38,000 and can buy a home for $168,000. Social workers  average $45,700, and can afford a $202,000 home.

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