DataMarkets & Economy

Austin tech industry talent ranks fifth in the nation, study says

Austin ranks as the no. 5 top tech talent city thanks to local education and job growth
  • Austin ranked no. 5 best tech city behind the Bay Area, Washington D.C., Seattle and New York City for having tech jobs and talent.
  • Office rents rose 30 percent in five years and vacancy rate fell 10.1 percent during the same period, ending in the first quarter of 2016.
  • The Austin real estate market surged this spring but has since begun to cool off with more inventory and slowing price growth.

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Austin mural/Flickr user mr-numb Austin is inching up the ranks as one of the top tech cities in the nation. According to the recent Scoring Tech Talent ranking from CBRE Group Inc., the city moved up three spots from its 2015 slot to No. 5, sitting just behind the San Francisco Bay Area, Washington D.C., Seattle and New York City. The city ranked high for the tech industry for a few reasons, one of them being the addition of 24,590 tech jobs between 2011 and 2015. In that same period, the city produced 9,758 tech graduates. The presence of colleges and universities in the area not only helps deliver a consistent pool of tech talent, but it also attracts more millennials from elsewhere. In Austin, the growth of the 20-something millennial population was 12,800 since 2009, which totaled 11 percent of the share of the entire population growth during that time period. Austin is also home to a share of 20.2 percent millennials, the report says, making it one of the most mi...