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Austin is still a top-rated technology center in North America, but its position in an annual technology ranking declined slightly from 2020 to 2021.
The recently released Scoring Tech Talent 2021 report from commercial real estate services company CBRE ranks Austin 7th among North American technology centers. Austin ranked sixth in last year’s report.
Two factors favoring Austin in the 2021 report are:
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Austin has the most concentrated millennial tech workforce of any top 50 tech talent, with 34.6 percent of the total population falling into the 22-36 age bracket.
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Austin ranks sixth in the top 50 tech talent markets for educational degrees, with 46.2 percent of the population over 25 years old with at least a bachelor’s degree.
“We are now seeing a new wave of tech companies moving here or looking to set up an office presence, with the pandemic only accelerating the rapid growth Austin has seen over the past 20 years,” said Erin Morales, senior vice president at CBRE’s tech- and media practice in Austin.
“Austin offers the high quality talent and lifestyle amenities of other top tech hubs at a significantly lower cost,” added Morales. “That’s why the city will continue to attract companies and people for the foreseeable future. It is a lively, youthful and accessible place where people enjoy a high quality of life. ”
CBRE defines tech talent as 20 major tech careers, such as software engineers and systems managers, across all industries.
Software developers and programmers make up 38.7 percent of all technical talent in Austin and earned an average wage of $ 105,404 in 2020, says CBRE. This puts Austin in eighth place for concentration and 17th for average wage among the major technology markets.
The San Francisco Bay Area is in first place ahead of Austin in the 2021 ranking; Seattle, No. 2; Washington, DC, No. 3; Toronto, No. 4; New York City, No. 5; and Boston, No. 6.
Elsewhere in Texas, Dallas-Fort Worth ranks 13th, Houston 39th, and San Antonio 45th.
CBRE’s annual report evaluates the top 50 North American markets by analyzing 13 measures of their ability to attract and develop technical talent, including technical completion rates, concentration of technical jobs, the size of the technical workforce, and labor and real estate costs . CBRE also classifies the 25 emerging technology markets according to a narrower catalog of criteria.
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