Austin Tech Sector Adds 10,517 New Jobs

Culture Map, citing a report by CBRE real estate services, recently posted an on-line article that the Austin area added 10,517 new jobs over a two year period.  There are a lot of cities across the land that can’t boast of a population of 10,000 residents!  According to the report, the job growth in the Austin tech sector grew 22.5% in 2017 – 2018.  Only San Francisco with a growth rate of 24.7% and Seattle with a growth rate of 23.7% bested Austin.  According the Austin Chamber of Commerce tech jobs account for 15.8% of all jobs in our area.  Nationwide tech jobs account for 8.7% of all jobs, so we are just a bit shy of double the national average with tech employment.  According the CBRE the tech talent in Austin is a driving force in the job growth.  I would also add that our lower cost of living vs. San Francisco and Seattle has a lot to do with it.  Because of those factors tech companies can actually expand their operations to here vs. those high cost cities and increase their bottom line while providing a nice location for their employees to live and work.  For example, Apple, Facebook, and Google have expanded their operations to the Austin area.   According to the article the World Economic Forum tech jobs are expanding faster in cities with populations between 1 million and 3 million vs. larger cities such as San Francisco and New York City.

Just more good reasons that owning Austin area residential rentals makes good sense.