While there are clear advantages to living in or near tech hubs, more people relocating to these cities can put a certain pressure on the rental market, leading to rising rents. Admittedly, tech jobs provide high salaries, but are they high enough to cover the cost of renting in such areas?<\/p>\n
Let’s take San Francisco as an example, with the recent news<\/a> that giant tech startups like Lyft, Uber, Pinterest, and Airbnb are planning to go public. As I.P.O.s, they will inject large amounts of cash in the area and the high demand in housing will cause not only home prices to go up, but also rent prices<\/strong>. We’ve already seen this in the past when both Google and Facebook decided to go public. The only difference was that these two companies were spread over the Bay Area, and were not clustered in a single city. With this scenario, the already sky-rocketing rent prices in San Francisco<\/a> will only rise faster and quite possibly force many renters to relocate.<\/p>\n We might have an idea of which metros could qualify as the largest IT and tech hubs and we might also be aware of the ever-increasing cost of renting an apartment there, but which are the<\/strong> emerging tech hub<\/strong> metros<\/strong> and what can we expect to see there in terms of wages and rents?<\/p>\n To\u00a0look deeper into the changes that tech jobs bring along, we used data from the U.S. Bureau of Labor Statistics<\/a> in combination with our own data and put together a top of the largest tech hubs in the country as well as bringing forward the emerging ones that we should keep an eye on.<\/p>\n Silicon Valley’s pride, San Jose is the metro with the largest share of tech hubs in the U.S. Home to companies such as eBay and PayPal, over 12% of the jobs in the metro are in IT, followed by Washington<\/a> metro<\/strong>‘s 7.3% and Seattle metro<\/strong>‘s 6.8%.<\/p>\nWages in the country’s largest tech hub are virtually stagnating<\/h2>\n