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Really? That seems weirdly low, even with a lower COL taken into a account. In Southeast Michigan a new grad would expect to start somewhere around 60, and that's enough to buy a decent to huge house depending on where you end up living.

That's a sad salary. Especially when moving a few hours away to San Antonio will yield a 20k+/yr salary increase. Even if housing in Dallas were free, it's still better to move from a financial perspective.

Where in DFW can you purchase a nice home on 40k?

I'm talking about renting, not purchasing.