Austin, TX

Austin Ranked #6 In CBRE’s Annual ‘Scoring Tech Talent’ Report

Austin ranks well among North American tech hubs for its tech-talent growth, millennial population, and educational attainment ratio

August 30, 2022

Austin moved up one spot in this year’s rankings due in part to strong tech talent job growth over the past five years, increasing tech talent wages, and the educational attainment rate of its population, among other factors.

Media Contact

Ryan Salchert

Communications & Media Manager

Photo of ryan-salchert

Austin – August 30, 2022 – Austin ranks #6 overall in CBRE’s 2022 Scoring Tech Talent report as North American tech-talent employment bounced back from the pandemic to post job gains across most top markets in 2021, though the industry’s resilience will be tested again amid economic turmoil in 2022, according to a new report from CBRE.

The U.S. added a net 136,000 tech talent jobs last year across established hubs such as the San Francisco Bay Area, New York and Seattle as well as smaller markets like Nashville, Cleveland and California’s Inland Empire. Both tech job growth and tech office leasing proved resilient by rebounding in 2021 from slowdowns in 2020.

Austin moved up one spot in this year’s rankings due in part to strong tech talent job growth over the past five years, increasing tech talent wages, and the educational attainment rate of its population, among other factors.

“Austin’s climb in this year’s tech talent rankings doesn’t surprise me at all,” said Nate Stricklen, Executive Vice President at CBRE in Austin. “Our market continues to be one of the hottest relocation destinations for tech companies and tech workers in the entire country. While the overall economy may experience some softening in the next few quarters, I believe Austin will continue to attract the best and brightest that the tech industry has to offer.”    

CBRE’s report, now in its 10th year, ranks the top 50 North American markets by analyzing 13 measures of their ability to attract and develop tech talent, including tech graduation rates, tech-job concentration, tech labor pool size, and labor and real estate costs.

CBRE also ranks the Next 25 emerging tech markets on a narrower set of criteria. Tech talent is defined as 20 key tech professions -- such as software engineers and systems and data managers – across all industries.

Austin stood out in the report in several other key areas:

  • Austin’s tech workforce was 84,680 strong as of 2021, a 21 percent increase between 2016-2021. 
  • Austin led the country in population change of millennials – 25 to 39-years old – at 17.8 percent between 2015 and 2020. Austin also had the highest concentration of people in this age bracket of any North American city as of 2020.
  • Austin ranked fifth for tech talent working in the tech industry (49.9 percent) as of 2021.
  • Austin has the fifth most software engineers working in the local tech industry (59.2 percent as of 2020).
  • Austin ranked seventh in educational attainment rate with 46 percent of its population claiming a bachelor’s degree or higher. The U.S. average is 32.9 percent.
  • Austin was the ninth most concentrated market for working age Gen Z – people between 20 to 24 years old - as of 2020.

Top 10 Tech Talent Markets

 Rank  Market  Index Score
 1  San Francisco bay Area  86.06
 2  Seatle    79.78
 3  Toronto    69.35
 4  Washington,D.C.    68.14
 5  New York Metro    66.82
 6  Austin    65.35
 7  Vancouver  62.49
 8  Boston  62.38
 9  Dallas/Fort Worth  58.43
 10  Denver    57.56
 
To download the full report, click here.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.