The global real estate firm analyzed 50 cities across the U.S. and Canada to determine their ability to nurture local tech industries. Based on 13 factors — ranging from job opportunities and education to population and housing costs — Austin jumped three spots on the list, breaking into the top five for the first time.
"Austin is no longer solely a location for Bay Area companies to grow in a central time zone, but a holistic tech market with a healthy entrepreneurial spirit and startup scene. This was a critical jump to becoming a self-sustaining technology community, which will have lasting effects for Austin's economy," said Erin Morales, senior vice president of CBRE, in a statement.
Much of our status as a tech hub can be attributed to continued job growth. From 2010-15, the number of tech jobs grew 51.8 percent, to 72,000. In fact, Austin is creating tech jobs faster than local universities can crank out graduates with tech-related degrees.
And those jobs are paying the big bucks. The average wage for a local tech employee is $89,692. And with an average of $14,125 going to rent each year, those in the tech field are spending only 15.7 percent of income on rent.
There's one glaring disparity in our tech industry: a lack of gender diversity. According to CBRE, 77 percent of tech employees in Austin are male.
Four cities score higher than Austin: San Francisco (No. 1), Washington (No. 2), Seattle (No. 3), and New York (No. 4). The Dallas-Fort Worth metro area proves its tech prowess, coming in at No. 6.