Some metro areas offer better opportunities for new college graduates than others.

With the greatest balance of wages, affordability and hiring, markets in the South are edging out the traditional tech and financial centers like San Francisco, San Jose and Seattle in terms of opportunity for recent grads thanks to strong science and technology employment metrics. Among the best markets for these young job seekers are Raleigh, North Carolina; Baltimore; Austin, Texas; and Atlanta, Georgia, according to a new study by ADP Research Institute.

The study included 55 metro areas in the United States with at least one million residents and compared them based on annual wages, hiring rates and affordability. Some affordable areas with robust hiring but comparatively low wages include Greater Cleveland; Detroit; Louisville, Kentucky; and Tucson, Arizona. Meanwhile, some metros boast high wages but are less affordable, including the San Francisco Bay Area. Four markets fell in the sweet spot of offering favorable affordability, wages and hiring, according to the report.