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The 13 best-value cities for hiring tech talent

Sarah K. White | Aug. 30, 2017
With low business costs and strong talent labor markets, these U.S. and Canadian cities offer the best bang for your hiring buck.

Cost breakdown:

  • Rent: $1,854,750
  • Average tech talent wages: $94,400
  • Average support non-tech wage: $53,371
  • Average management wage: $138,974

Chicago, Ill.

Chicago isn’t the cheapest place to operate, with businesses spending around $42 million per year to operate, but it certainly isn’t the most expensive. Cost of living in Chicago is mostly on par with the national average and tech jobs have grown nearly 12 percent since 2011. However, millennials aren’t hanging around in Chicago — the number of residents from 20 to 29 years of age dropped almost 2 percent since 2010, which is more than a 31 percent drop in a population of over 2.7 million.

Cost breakdown:

  • Rent: $2,226,000
  • Average tech talent wages: $91,200
  • Average support non-tech wage: $55,495
  • Average management wage: $140,050

Dallas/Ft. Worth, Tex.

The average total business cost to operate in Dallas-Ft. Worth is over $43 million per year, with housing and relative costs falling 9 percent below the national average for businesses. And it seems more millennials are finding their way to Dallas-Ft. Worth; the millennial population has increased almost four percent since 2010.

Cost breakdown:

  • Rent: $1,796,250
  • Average tech talent wages: $93,338
  • Average support non-tech wage: $57,504
  • Average management wage: $156,805

Long Island, N.Y.

For businesses looking to hire quality tech talent, Long Island, N.Y., is a relatively affordable place to find it — the average cost to operate a business is over $43 million per year and average cost of business is 6 percent lower than the national average. However, for residents living and working in Long Island, the cost of living is 25 percent higher than the national average.

Cost breakdown:

  • Rent: $2,006,250

  • Average tech talent wages: $92,546

  • Average support non-tech wage: $57,005
  • Average management wage: $161,270

Philadelphia, Pa.

The average operational cost for businesses in Philadelphia is nearly $43.5 million per year, while the average cost of business is just 4 percent higher than the national average. Tech degrees in Philadelphia have grown by almost 34 percent since 2015, while tech occupations have grown almost 10 percent since 2011.

Cost breakdown:

  • Rent: $1,995,000
  • Average tech talent wages: $93,550
  • Average support non-tech wage: $56,773
  • Average management wage: $161,270

Baltimore, Md.

Baltimore is another relatively affordable place to operate a business with a total yearly cost just over $43.5 million per year. The cost of business and cost of living both hover around the national average, and tech jobs have seen 12 percent growth since 2011. And, while most cities on this list cited a 75 percent male workforce in the tech industry, Baltimore is slightly more diverse with a tech workforce that is 69 percent male and 31 percent female.

 

 

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