Tops for Tech
Unbelievable job growth propels Austin to the top of this list
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.