AgentMarkets & Economy

‘Typical’ tech employee lives in million dollar home

Home values for these employees have appreciated noticeably faster
  • The home value of a Silicon Valley tech employee is five times more than the average U.S. home
  • Tech employees who have seen significant home price appreciation could consider a sale moving forward
  • The wealth gap between tech employees and other workers could put stress on the SIlicon Valley housing market

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If you're a real estate agent in the Silicon Valley or San Francisco metro, finding ways to connect with tech company employees can only be beneficial. Recent analysis from Zillow found most workers at Google, Facebook and Apple headquarters live in homes valued at more than $1.1 million, and these homes have appreciated in value faster than other properties in the same market. Higher-than-average home price appreciation coupled with increasing wages in the tech industry could mean some of these owners may consider a sale. For agents, most of these homes would rank as luxury listings, valued at more thanĀ $1 million each. According to Zillow, the typical worker at Apple's Cupertino headquarters lives in a home worth roughly $1.14 million. The value is $241,000 more than the median home price in the San Jose metro and exceeds the median value in the San Francisco metro by $380,000. Workers at Google's Palo Alto location live in homes with a median value of $1.28 million....