According to a recent study by ERI Economic Research Institute, Knoxville, Tennessee and Bridgeport, Connecticut are the most affordable cities for a college graduate just entering the workforce; while New York City and San Francisco are the least affordable. College graduates living in Manhattan earn salaries that are 20% above the national average, but the cost of living is over twice the national average. In Knoxville, salaries are 8% below the national average, but the cost of living is 22% below the national average