{"id":177345,"date":"2024-09-09T14:31:35","date_gmt":"2024-09-09T20:31:35","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=177345"},"modified":"2024-09-09T14:47:30","modified_gmt":"2024-09-09T20:47:30","slug":"housing-markets-with-the-highest-tech-job-growth","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/housing-markets-with-the-highest-tech-job-growth","title":{"rendered":"America&#8217;s Top Tech Hubs\u2014and the Real Estate Growth It&#8217;s Driving"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a class=\"editor-rtfLink\" href=\"https:\/\/www.redfin.com\/news\/what-happens-to-home-prices-when-technologists-come-to-town\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Redfin once published data<\/span><\/a><span data-preserver-spaces=\"true\"> that showed for every 1% increase in tech workers in their sample of cities, there was an average 0.49% increase in home prices. <\/span><span data-preserver-spaces=\"true\">Granted, the article was published almost <\/span><span data-preserver-spaces=\"true\">10<\/span><span data-preserver-spaces=\"true\"> years ago and needs a refresh, but <\/span><span data-preserver-spaces=\"true\">I think<\/span><span data-preserver-spaces=\"true\"> the underlying assumption still holds: When an area adds many tech jobs, home values increase.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Why is this? I took market data from <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.costar.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">CoStar<\/span><\/a><span data-preserver-spaces=\"true\"> and calculated which variables were correlated most with price growth over time. I found a strong relationship between increases in household income (and office employment) and increases in house prices.<\/span><\/p>\n\n\n<p><iframe title=\"Relationship Between Home Price and Employment\" aria-label=\"Table\" id=\"datawrapper-chart-EAZKL\" src=\"https:\/\/datawrapper.dwcdn.net\/EAZKL\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"543\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The closer the correlation is to 1, the stronger the relationship. <\/span><span data-preserver-spaces=\"true\">In the<\/span><span data-preserver-spaces=\"true\"> table<\/span><span data-preserver-spaces=\"true\">, we can see<\/span><span data-preserver-spaces=\"true\"> that real estate prices in the top metropolitan areas <\/span><span data-preserver-spaces=\"true\">are strongly correlated<\/span><span data-preserver-spaces=\"true\"> with household income, office employment (which includes tech jobs), and total employment, depending on the MSA.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Top 10 Cities With Highest Tech Job Growth<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Next, I took historical job occupation data from the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bls.gov\/oes\/tables.htm\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Bureau of Labor Statistics<\/span><\/a><span data-preserver-spaces=\"true\"> (BLS) <\/span><span data-preserver-spaces=\"true\">and singled<\/span><span data-preserver-spaces=\"true\"> out job growth in the Computer and Mathematical Operations category (in other words, tech jobs). My criteria for selecting the top 10 markets were:<\/span><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Markets in the top 50% for total tech jobs (this excludes small markets).<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Markets with <\/span><span data-preserver-spaces=\"true\">a number of<\/span><span data-preserver-spaces=\"true\"> tech jobs proportional to its size <\/span><span data-preserver-spaces=\"true\">greater<\/span><span data-preserver-spaces=\"true\"> than the average national proportion (if a market had a small proportion of tech jobs, the results could <\/span><span data-preserver-spaces=\"true\">be skewed<\/span><span data-preserver-spaces=\"true\"> by Facebook opening just one new data center in town\u2014one company adding one new data center is not what I\u2019d consider a \u201ctech boom\u201d for any market).<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Total employment over time must not be <\/span><span data-preserver-spaces=\"true\">negative<\/span><span data-preserver-spaces=\"true\"> (<\/span><span data-preserver-spaces=\"true\">there were some smaller markets that added<\/span><span data-preserver-spaces=\"true\"> a healthy number of tech jobs while their overall employment declined).<\/span><\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Top cities by five-year compound annual tech job growth<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">I ranked the remaining cities by their five-year compound annual tech job growth. This map shows the five-year <\/span><span data-preserver-spaces=\"true\">growth<\/span><span data-preserver-spaces=\"true\"> of the top markets:<\/span><\/p>\n\n\n<p><iframe title=\"5-Year Tech Job Growth\" aria-label=\"Map\" id=\"datawrapper-chart-ekNM3\" src=\"https:\/\/datawrapper.dwcdn.net\/ekNM3\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"438\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">However, some of the markets with the highest growth from 2018-2023 <\/span><span data-preserver-spaces=\"true\">actually<\/span><span data-preserver-spaces=\"true\"> had little-to-negative growth when measured from 2022-2023, such as <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Austin-Round%20Rock-Georgetown%2C%20TX\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Austin, Texas<\/span><\/a><span data-preserver-spaces=\"true\"> (1.77%); <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Provo-Orem%2C%20UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Provo, Utah<\/span><\/a><span data-preserver-spaces=\"true\"> (-5.74%); and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Salt%20Lake%20City%2C%20UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Salt Lake City<\/span><\/a><span data-preserver-spaces=\"true\"> (-0.66%). <\/span><span data-preserver-spaces=\"true\">This<\/span><span data-preserver-spaces=\"true\"> means their highest tech job growth periods happened before 2022 <\/span><span data-preserver-spaces=\"true\">when<\/span><span data-preserver-spaces=\"true\"> the pandemic was raging.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">While their five-year compound growth is impressive, <\/span><span data-preserver-spaces=\"true\">there are other cities that have<\/span><span data-preserver-spaces=\"true\"> a similar five-year compound growth rate while also currently experiencing high one-year growth, as of the latest measurements published by the BLS.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Top cities by one-year tech job growth<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">I ranked each market by its one-year growth in tech jobs (from 2022-2023<\/span><span data-preserver-spaces=\"true\">),<\/span><span data-preserver-spaces=\"true\"> while <\/span><span data-preserver-spaces=\"true\">keeping<\/span><span data-preserver-spaces=\"true\"> its five-year compound growth <\/span><span data-preserver-spaces=\"true\">into consideration<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> This map shows the results:<\/span><\/p>\n\n\n<p><iframe title=\"1-Year Tech Job Growth\" aria-label=\"Map\" id=\"datawrapper-chart-NZQc2\" src=\"https:\/\/datawrapper.dwcdn.net\/NZQc2\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"438\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">As you reference this map, consider the five-year compound growth. <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Indianapolis-Carmel-Anderson%2C%20IN\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Indianapolis<\/span><\/a><span data-preserver-spaces=\"true\"> may have had a 9.36% one-year growth rate in tech jobs, but its five-year compound \u201cgrowth\u201d rate is -0.4%, <\/span><span data-preserver-spaces=\"true\">which means over <\/span><span data-preserver-spaces=\"true\">a five-year period<\/span><span data-preserver-spaces=\"true\">,<\/span><span data-preserver-spaces=\"true\"> it had a net <\/span><em><span data-preserver-spaces=\"true\">loss <\/span><\/em><span data-preserver-spaces=\"true\">of technology jobs.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The top 10 tech growth cities<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Before I calculated a top 10 list, <\/span><span data-preserver-spaces=\"true\">I thought<\/span> <span data-preserver-spaces=\"true\">it was <\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\"> to include<\/span><span data-preserver-spaces=\"true\"> the Location Quotient (LQ) in the rankings.<\/span><span data-preserver-spaces=\"true\"> According to the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bls.gov\/cew\/about-data\/location-quotients-explained.htm\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">BLS<\/span><\/a><span data-preserver-spaces=\"true\">, the LQ is the proportion of a specific job type relative to the average proportion for the U.S. Here is a direct quote from the BLS that helps explain the LQ:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><span data-preserver-spaces=\"true\">\u201cAn LQ greater than 1 indicates an industry with a greater share of the local area employment than <\/span><span data-preserver-spaces=\"true\">is the case<\/span><span data-preserver-spaces=\"true\"> nationwide. <\/span><span data-preserver-spaces=\"true\">For example, Las Vegas will have an LQ greater than 1 in the Leisure and Hospitality industry because <\/span><span data-preserver-spaces=\"true\">this industry<\/span><span data-preserver-spaces=\"true\"> makes up a larger share of the Las Vegas employment total than it does for the nation <\/span><span data-preserver-spaces=\"true\">as a whole<\/span><span data-preserver-spaces=\"true\">.\u201d<\/span><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">In the case of<\/span><span data-preserver-spaces=\"true\"> tech job rankings, I filtered out all cities where the LQ was less than 1. I wanted <\/span><span data-preserver-spaces=\"true\">to only include<\/span><span data-preserver-spaces=\"true\"> cities with a <\/span><span data-preserver-spaces=\"true\">greater<\/span><span data-preserver-spaces=\"true\"> proportion of tech jobs than the national average.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Then I ranked the top cities with the highest one-year growth <\/span><span data-preserver-spaces=\"true\">that also had<\/span><span data-preserver-spaces=\"true\"> a positive five-year compound growth rate. Here are the top 10 results:<\/span><\/p>\n\n\n<p><iframe title=\"Top 10 Markets with the Most Recent Tech Job Growth\" aria-label=\"Table\" id=\"datawrapper-chart-O6PCG\" src=\"https:\/\/datawrapper.dwcdn.net\/O6PCG\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"716\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Ogden-Clearfield%2C%20UT&amp;city=Ogden&amp;state=UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ogden<\/span><\/a><span data-preserver-spaces=\"true\">, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Sacramento-Roseville-Folsom%2C%20CA&amp;city=Sacramento&amp;state=CA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Sacramento<\/span><\/a><span data-preserver-spaces=\"true\">, and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Dallas-Fort%20Worth-Arlington%2C%20TX&amp;city=Dallas&amp;state=TX\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Dallas<\/span><\/a><span data-preserver-spaces=\"true\"> stand out to me. Even more interesting is <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=San%20Francisco-Oakland-Berkeley%2C%20CA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">San Francisco<\/span><\/a><span data-preserver-spaces=\"true\">\u2019s overall growth in tech jobs, which <\/span><span data-preserver-spaces=\"true\">directly<\/span><span data-preserver-spaces=\"true\"> contradicts many sources stating that it\u2019s shrinking as a tech economy.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">But what about cities with <\/span><span data-preserver-spaces=\"true\">a high number of<\/span><span data-preserver-spaces=\"true\"> engineering and life sciences jobs? While I\u2019ve answered the question of \u201cwhich cities have the highest tech job growth,\u201d I wanted to go one step further and examine the cities with the most job growth in STEM fields (science, technology, engineering, and mathematics).&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Top 10 Cities With Highest STEM Job Growth<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">I started the analysis by adding all jobs in the Computer and Mathematical Occupations, Architecture and Engineering Occupations, and the Life, Physical, and Social Science Occupations, as defined by the BLS, to get the total STEM job count for each metro in 2018, 2022, and 2023.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Here\u2019s a map of metros ranked by their five-year compound annual growth from 2018-2023. <\/span><span data-preserver-spaces=\"true\">Cities weren\u2019t included<\/span><span data-preserver-spaces=\"true\"> if they didn\u2019t make the top 100 list or had negative growth in all four STEM occupations.<\/span><\/p>\n\n\n<p><iframe title=\"5-Year STEM Job Growth\" aria-label=\"Map\" id=\"datawrapper-chart-XKmGN\" src=\"https:\/\/datawrapper.dwcdn.net\/XKmGN\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"438\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Like the tech growth map, keep in mind that while some metros had a solid five-year annual compound growth rate, they also may have had a one-year decline in STEM jobs, such as:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Nashville-Davidson--Murfreesboro--Franklin%2C%20TN\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Nashville<\/span><\/a><span data-preserver-spaces=\"true\"> (-0.55%)<\/span><\/li>\n\n\n\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Lexington-Fayette%2C%20KY\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Lexington, Kentucky<\/span><\/a><span data-preserver-spaces=\"true\"> (-0.79%)<\/span><\/li>\n\n\n\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Lakeland-Winter%20Haven%2C%20FL\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Lakeland, Florida<\/span><\/a><span data-preserver-spaces=\"true\"> (-1.03%)<\/span><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">In addition, some places with a relatively weak five-year compound growth rate may have also seen high one-year growth, such as <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Los%20Angeles-Long%20Beach-Anaheim%2C%20CA&amp;city=Los%20Angeles&amp;state=CA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Los Angeles<\/span><\/a><span data-preserver-spaces=\"true\"> (+8.39%); <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Raleigh-Cary%2C%20NC&amp;city=Raleigh&amp;state=NC\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Raleigh, North Carolina<\/span><\/a><span data-preserver-spaces=\"true\"> (+8.32%); and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Oklahoma%20City%2C%20OK&amp;city=Oklahoma%20City&amp;state=OK\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Oklahoma City<\/span><\/a><span data-preserver-spaces=\"true\"> (+9.09%), which may indicate they are now bouncing back from their losses during the pandemic (in Los Angeles\u2019 case) or are adding STEM jobs faster than they did during the pandemic (in Raleigh and Oklahoma City\u2019s case).<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Now, if we only keep the top 50% of metros with the highest one-year and five-year growth in STEM jobs and then rank by one-year growth, we arrive at these top 10 metros for STEM employment growth:<\/span><\/p>\n\n\n<p><iframe title=\"Top 10 Markets with the Most Recent STEM Job Growth\" aria-label=\"Table\" id=\"datawrapper-chart-gzuxU\" src=\"https:\/\/datawrapper.dwcdn.net\/gzuxU\/3\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"640\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Again, Sacramento and Ogden make the list (thanks to the <\/span><span data-preserver-spaces=\"true\">high number of<\/span><span data-preserver-spaces=\"true\"> tech jobs each city added in the past year). These metros weren\u2019t on my <\/span><span data-preserver-spaces=\"true\">personal<\/span><span data-preserver-spaces=\"true\"> radar for investment before\u2014but best believe they are now.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Here are some other markets to consider:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Bellingham%2C%20WA&amp;city=Bellingham&amp;state=WA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Bellingham, Washington<\/span><\/a><span data-preserver-spaces=\"true\">, is a two-hour drive from <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Seattle-Tacoma-Bellevue%2C%20WA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Seattle<\/span><\/a><span data-preserver-spaces=\"true\">, and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Greeley%2C%20CO&amp;city=Greeley&amp;state=CO\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Greeley, Colorado<\/span><\/a><span data-preserver-spaces=\"true\">, an 80-minute drive from <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Denver-Aurora-Lakewood%2C%20CO\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Denver<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><span data-preserver-spaces=\"true\">These metros might <\/span><span data-preserver-spaces=\"true\">be benefiting<\/span><span data-preserver-spaces=\"true\"> from people searching for a lower cost of living than their prime MSA (like Seattle or Denver)<\/span><span data-preserver-spaces=\"true\">, <\/span><span data-preserver-spaces=\"true\">while <\/span><span data-preserver-spaces=\"true\">still<\/span><span data-preserver-spaces=\"true\"> remaining in the general area.<\/span><\/li>\n\n\n\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Rochester%2C%20MN&amp;city=Rochester&amp;state=MN\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Rochester, Minnesota<\/span><\/a><span data-preserver-spaces=\"true\">, is also about 90 minutes away from <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Minneapolis-St.%20Paul-Bloomington%2C%20MN-WI\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Minneapolis<\/span><\/a><span data-preserver-spaces=\"true\"> and is likely benefitting from the success of the Mayo Clinic, widely regarded as one of the best hospitals in the world.<\/span><\/li>\n\n\n\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Charleston-North%20Charleston%2C%20SC&amp;city=Charleston&amp;state=SC\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Charleston, South Carolina<\/span><\/a><span data-preserver-spaces=\"true\">, is <\/span><span data-preserver-spaces=\"true\">currently<\/span><span data-preserver-spaces=\"true\"> experiencing solid STEM employment growth, healthy population growth, and <\/span><span data-preserver-spaces=\"true\">good<\/span><span data-preserver-spaces=\"true\"> price appreciation.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">A rise in<\/span><span data-preserver-spaces=\"true\"> tech employment can lead to higher wages for a metropolitan area. <\/span><span data-preserver-spaces=\"true\">This<\/span><span data-preserver-spaces=\"true\"> can result in real estate price appreciation over time. Buying and holding in an area with STEM employment growth could be an excellent strategy if only to ride a wave of appreciation over time.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Thanks to their growth in tech jobs, Ogden and Sacramento should stay on your radar. <\/span><span data-preserver-spaces=\"true\">I would also keep the Research Triangle area (Raleigh-Durham-Chapel Hill) in mind, as its three major universities continue <\/span><span data-preserver-spaces=\"true\">to produce<\/span><span data-preserver-spaces=\"true\"> an educated workforce ready to fill the <\/span><span data-preserver-spaces=\"true\">area\u2019s<\/span><span data-preserver-spaces=\"true\"> growing tech sector.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">If you\u2019d like help choosing a market to invest in based on variables like population growth, affordability, and unemployment rates, the BiggerPockets <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Market Finder<\/span><\/a><span data-preserver-spaces=\"true\"> may be helpful.<\/span><\/p>\n\n\n\n<div id=\"hero-block_3ea65805075f5d05d450e5679cd19d72\" class=\"first:mt-0 hero-block py-4  alignfull   has-background has-slate-50-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">Find the Hottest Markets of 2025!<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color wp-block-paragraph\" style=\"font-size:18px\">Effortlessly discover your next investment hotspot with the brand new BiggerPockets Market Finder, featuring detailed metrics and insights for all U.S. markets.<\/p>\n\n\n\n<div id=button-custom-event-block_7f1cede9aa4db52a6265e99951db870f class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/markets\" x-on:click=\"window.analytics.track(&#039;Blog Block | Market Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/housing-markets-with-the-highest-tech-job-growth&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Explore Markets<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/07\/Market-Finder_Site-Module-1.png\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Redfin once published data that showed for every 1% increase in tech workers in their sample of cities, there was an average 0.49% increase in home prices. Granted, the article [&hellip;]<\/p>\n","protected":false},"author":613753,"featured_media":177350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7364],"tags":[],"class_list":["post-177345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-markets"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/177345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=177345"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/177345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/177350"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=177345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=177345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=177345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}