San Francisco, New York and Los Angeles have long-standing reputations as some of the country’s biggest tech hubs, but they’re hardly the only ones.
As technology continues to connect people all over the world, the importance of living in Silicon Valley, Alley or Beach may not be as important as it once was. Skyrocketing costs are also a factor in encouraging companies and employees to seek out other options: the median rent for a one-bedroom in San Francisco is $2,420 vs. $940 nationally, and $3,040 for a two-bedroom vs. $1,160 nationally, according to ApartmentList.com’s March 2018 rentals report.
Comparably explored 10 cities that are emerging as tech hubs, along with local salaries for six of the most popular job titles. The results come from an analysis of more than 8,000 anonymous salary records for employees at small, mid-size and large public and private U.S. tech companies. The data was collected between March 2016 and March 2018.
Here are the U.S. national averages for each tech job, for comparison:
Note: Compensation depicted below represents average total compensation as collected by Comparably.com. All rent figures represent median monthly rates and come from ApartmentList.com. Methodology below.
Atlanta
Home to Coca-Cola, Delta, Home Depot and UPS, Atlanta is no stranger to big business, though it’s also developing quite the budding tech scene. In 2017, the Southern city ranked in No. 3 in investment firm CBRE’s list of places that have seen the largest percentage gain in tech talent. The region also boasts a reasonable rental market: median rents in Atlanta are $1,010 for a one-bedroom apartment and $1,160 for a two-bedroom.
Baltimore
Once a thriving manufacturing hub, Baltimore has had its share of poverty and crime over the last few decades. But the Maryland city, which is surrounded by several universities, saw its tech talent pool surge 42% between 2010 and 2013, making it one of the fastest-growing tech markets. The rents are also in line with national averages: $940 for a one-bedroom apartment and $1,180 for a two-bedroom.
Boulder
One of two Colorado cities on Comparably’s list, Boulder continues to attract tech talent looking for an escape from the congestion of more urban locales. According to research company CB Insights, the state of Colorado was sixth among states that had received the most venture capital, after California, Massachusetts, New York, Texas, and Washington. Currently, median rents in Boulder are $1,140 for a one-bedroom apartment and $1,400 for a two-bedroom.
Chicago
The Midwestern city known for its pizza and its politics has in recent years become known for another thing: a lively tech scene. Last year, a report by KPMG placed Chicago is in the top 10 of tech innovation hubs worldwide, tied with D.C. and Berlin. Rents in the area are at $1,070 for a one-bedroom and $1,260 for a two-bedroom.
Dallas
Often overshadowed by Austin, Dallas has come into its own as a veritable tech hub. The Texas city was ranked No. 11 among the most high-tech cities in the world — yes, world – up from No. 28 the year before, according to analysis by Business Insider in conjunction with consulting firm 2ThinkNow. Median rents in Dallas stand at $880 for a one-bedroom apartment and $1,100 for a two-bedroom.
Denver
Colorado’s capital was ranked the Best Place to Live in 2016, offering an affordable living and standout quality of life. That has contributed to its tech scene, which has quietly grown these last few years. Median rents in Denver are $1,040 for a one-bedroom apartment and $1,310 for a two-bedroom.
Minneapolis
Home to health giants such as UnitedHealth and Medtronic, Minneapolis is proving it’s a top tech city, particularly in the red-hot digital health tech space. In 2016, nearly 100 Minnesota health technology startups raised more than $420 million, much more than in any other Midwestern state. Rents in the area are also on the lower end of the spectrum, at $900 for a one-bedroom and $1,140 for a two-bedroom.
Phoenix
Arizona’s capital has emerged as one of the major tech cities in the Southwest. Tech employment in Phoenix is up nearly 80% since 2000, with software employment jumping by nearly 30% since 2010. Rents in the area are also very reasonable at $820 for a one-bedroom and $1,030 for a two-bedroom.
Portland, OR
Nicknamed the Silicon Forest, the city of Portland saw its tech scene blossom after the Great Recession. The city has benefited from its proximity to San Francisco, and ranked No. 14 out of 25 on a 2017 list of the top areas for high-tech jobs. The median rent in Portland is $1,130 for a one-bedroom and $1,330 for a two-bedroom.
Washington, D.C.
A diverse city with some of the most educated residents, D.C. ranks as one of the best places to start a business, though its rents are very much above average: median rents are $1,310 for a one-bedroom apartment and $1,510 for a two-bedroom.
Methodology
- The results were compiled from 8,633 Comparably users in job titles that have (1) at least 2,000 overall employee compensation records and (2) at least 100 employee compensation records for each city. People of all ages, educational backgrounds, ethnicities and experience levels were included.
- Salaries reflect average total compensation (base salaries plus bonus).
- Employees hail from small, mid-size, and large tech companies (VC-funded, privately-held, and public) to household brands like Amazon, Apple, Google, Facebook, Uber, etc.
- Data was collected between March 2016 and March 2018.
- All rental information is from ApartmentList.com’s March 2018 report: https://www.apartmentlist.com/rentonomics/national-rent-data/
About Comparably
Comparably is one of the fastest growing compensation, culture, and career monitoring sites in the U.S. With the most comprehensive and uniquely structured data — segmented by gender, ethnicity, age, location, tenure, company size, equity, title/department, and education — the platform gives employees a more accurate picture of their worth and allows them to anonymously rate their workplace experiences and match with their dream jobs. Since its launch in 2016, Comparably has accumulated more than 3 million ratings from employees across 30,000 U.S. businesses and over 5,000 companies who use its employer branding and jobs tools. For more information on Comparably, go to www.comparably.com. For highly-cited workplace culture and compensation studies, including Comparably’s annual Best Places to Work and Best CEOs lists, log onto www.comparably.com/blog.
