Top Tech Cities Are Growing Faster
Than Other Markets
With technology impacting just about every aspect of daily living, tech is undergoing a boom. Metro areas are experiencing an influx of companies, from startups to tech heavyweights, expanding into new markets. Cushman & Wakefield recently reviewed tech growth in U.S. markets and analyzed the number of educational institutions, the percentage of tech and knowledge workers and the amount of venture capital funding. The top 25 markets are highlighted in its Tech Cities 1.0 report.
These top 25 markets experienced a 2.2% job growth from 2009 to 2017 compared to 1.7% for all other markets. The cities had a sharper occupancy change of 5% from 2010 to Q1 2017, compared to other markets with 3.2%. Asking rents also increased more in the top tech cities with 29.4% rent growth from 2010 to Q1 2017 compared to 11% rent growth in other markets.
Check out the top seven markets below.
1. San Jose/Silicon Valley
Number of prominent educational institutions: Six
Percentage of tech workers: 27.4%
Percentage of knowledge workers: 36%
Venture capital funding: $6.7B
Silicon Valley has long been the tech capital and headquarters to some of the biggest tech companies. Silicon Valley and…
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