Tech City Home Shopping: A Buyer’s Guide
What Will the Median Home Value Buy in These Tech Cities?
The tech industry is growing bigger by the second, and where high-tech industry goes, money usually follows. You’ve probably heard about the sky-high housing prices in Silicon Valley, and we’ll talk a bit in this article about that area, but that’s not the only part of the country where tech jobs are plentiful and those with the skills to fill them are drawn.
In fact, the industry as a whole has been branching out in recent years to form tech hubs all over the country. Let’s take a look at some of our nation’s top tech cities, and discuss what a prospective homebuyer might experience when shopping for a residence.
Seattle used to be known for early ‘90s grunge music and delicious coffee, and those things are still definitely a part of the fabric of the city. But over the years, the home of the Space Needle has become an IT center. Microsoft, Amazon, and F5 Networks are among the most coveted tech employers here, and the median home value is currently just shy of $600k. What will that buy you? How about this 2,100 square foot charmer with parquet floors and cathedral ceilings?
San Francisco, California
San Francisco has been the epicenter of quite a few cultural revolutions: the Summer of Love, the LGBT rights movement that took shape in the 1970s, and more recently, the high tech revolution. Twitter, Salesforce, Uber, Yelp, and Google are among the plethora of tech firms that call the Bay Area home.
With a median home value hovering just over $1.1 million, living in San Francisco isn’t a city for those on a tight budget. But for those with the budget, the city offers a wide array of highly desirable options, such as this Mission District Victorian.
The Mile High City has a lot going for it – music, art, culture, mountains, and friendly residents are just a few pluses. But it’s also fast becoming a tech hub par excellence, with household-name firms like Lockheed Martin, IBM, and Oracle all maintaining a strong presence in the city.
Median home values have risen by more than 10% over the past year to a bit more than $350k – not the cheapest place on this list, but still quite affordable compared to quite a few other entries. For that kind of cash, you can purchase something like this recently updated home. Just look at that yard!
San Jose, California
If you want to work for Adobe, Cisco, or eBay, then San Jose is a great place to relocate to. Homes have nearly doubled here over the past four years, to reach a median of $822k. That’s the kind of cash you’ll need if you want to move into this well-kept midcentury home on Trego Ave.
In Boston, the winters may be cold, but the housing market is as hot as they come, and so is the high-tech job market. MIT provides plenty of qualified employees for small and medium-sized firms like tripadvisor, SimpliSafe, and HubSpot, not to mention tech giants such as Amazon, PayPal, and GE’s global HQ. For the median home value of $504k, new arrivals can expect to purchase something like this quaint 1910 home.
Austin may be best known for its buzz-worthy music scene, but this hip Texas city is also a high-tech hotspot. Several semiconductor manufacturers maintain facilities in Austin, including AMD, Intel, Nvidia, and Qualcomm, and the list of local tech startups is extensive. How much cash will you need to buy a nice home here? The median home value of around $300,000 will buy you anything from a stylish town home to this cozy 1970s-style single-family home.
Not Every High Tech Hub Is Expensive
As you can see, some tech hubs are exorbitantly expensive, but it is possible to live in a city with a growing tech industry without paying a million dollars or more for a home. And these cities aren’t the only ones to check out. For more ideas, have a look at Baltimore, Minneapolis, Durham, Atlanta… the list goes on and on. Oh, and if we can be of service, then please don’t hesitate to ask!