Every year, NerdWallet compiles a report analyzing the 100 largest cities in the United States for the best places for recent grads to find jobs.

This year, college graduates who will be looking for a job after the semester is over may find Denver’s a good place to start.

Denver is No. 16 among cities considered to be a good place for recent grads to find a job, a drop from the No. 8 spot in last year’s similar report.

According to the report, Denver’s drop could be attributed to climbing rent prices, with most residents over the age of 25 with a bachelor’s degree or higher paying an average of 22.6 percent of their income towards rent.

NerdWallet compiled the report by looking at:

Percentage of population 25 and older with bachelor’s degree or higher (Denver: 26.9 percent

Percentage of population ages 20 to 29 (Denver: 18.3 percent)

Median earnings of people with a bachelor’s degree and 25 years or older (Denver: $47,235)

Jobs in management, business, science and arts occupations (Denver: 43.1 percent)

Rent as percentage of income (Denver: 22.6 percent)

The full report can be found here.

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