College grads flocking to Austin

WASHINGTON (AP) - Many college graduates are choosing to live in urban, high-tech meccas, fueling a resurgence of brainiacs in California, North Carolina and Texas.

Census data shows metro areas with high rates of foreclosures, less tech-based economies or increasing unemployment are seeing declines or slower rates of growth in residents with a college degree or higher.

They include Cleveland, Los Angeles, Atlanta, Orlando, New Orleans and Detroit. The report shows that Austin, Texas; Portland, Oregon; Charlotte and Raleigh, both in North Carolina; and Seattle saw large jumps in residents with at least a college degree. Each offers the promise of specialized tech jobs and hip lifestyles.

Among other findings:

• The top five metro areas with the largest gains in residents earning $65,000 and more were Phoenix, Riverside, Calif., Dallas, Las Vegas and Houston.
• Median home values ranged from $68,200 in Odessa, Texas, to $739,700 in San Jose, Calif., the only metro area with a median home value above $700,000.