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Good news for student set to graduate from Arizona State University in the coming weeks: You're in one of the top cities for college graduates.

According to, Phoenix is a good place for recent graduates because it boasts a low cost of living and a lot of employment opportunities.

Kiplinger expects Arizona to enjoy a healthy job-growth rate of 2.1% in 2013, and many of those new jobs will gravitate to the Valley of the Sun. Financial service companies State Farm Insurance and military-focused USAA are building and expanding facilities in Phoenix, which could add thousands of new positions to the local economy. Other major employers in the area include Banner Health, defense contractor Raytheon and Arizona State University.

Kiplinger said the median salary for recent college graduates is $41,000 per year.

Overall, the top-ranked city was Salt Lake City, followed by Ann Arbor, Mich., Boulder, Colo., Houston and Anchorage, respectively.,

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