More tech companies are opening more campuses all over the U.S. A new study evaluates what new employees making the average salary of a software developer can afford in these new tech hubs.
Earning an average annual salary of $100,000, the "sweet spot" average home price came out to $400,000 via Redfin's Affordability Calculator. The study then looks at what someone with this budget can afford in seven major U.S. metros where tech jobs are proliferating. Austin, Texas has the most affordable median sale price, $370,000, whereas Los Angeles and Boulder, Colo. have the most expensive median sale price, roughly $700,000.
Tech giants like Amazon, Google and Apple have shouted it loud and clear: their gaze is focused far beyond Silicon Valley. Plans are in place to open campuses and create thousands of jobs in burgeoning cities like Austin, Portland, Ore.; and Boulder, Colo., among several others.
“Tech companies are doing all they can to lure workers to their campuses. Job offers from tech companies often come with a relocation package to cover the costs of moving,” said Redfin chief economist Daryl Fairweather. “If you already own a home, your new employer may offer to help cover certain costs of selling, like home staging or cleaning to make relocating easier.”
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