10 US Cities Affected by the Decline of the IT Sector

The real estate bubble and the collapse in housing prices in the United States took place 10 years ago, and since then this sector of the American economy has more than recovered. House prices in many US cities even exceeded pre-crisis levels. This mainly applies to cities, which are the main centers of the technology sector.

Фото: Depositphotos

As the technology sector faces problems in the stock market, the question arises of the stability of housing markets in cities dominated by employment in the IT sector, writes GO Banking Rates.

The publication tried to determine which cities might be particularly vulnerable if the decline in the technical sector continued. Journalists rated 112 the most populous cities in the United States, in which IT companies are the main employers, analyzing the percentage of the population working in IT and in the second largest employment sector in the city; as well as housing prices, mortgage data and several other factors, including the ratio of the price of buying and renting houses in the city, which is calculated based on the estimated cost of a house divided by the monthly rent of such housing multiplied by 12. This measure serves as an indicator of the affordability of rental housing compared to its purchase, and also reflects how strongly real estate prices are inflated in the city. To analyze these data, it is worth considering that the average ratio of the cost of buying and renting housing in the US as a whole is 12,35.

As a result, 10 US cities were allocated, whose residents will suffer the most from a decline in technology.

10. Atlanta, GA

• The share of the population employed in the IT sector is 14,9%
• The ratio of purchase and rental prices in the city is 12,4

9. Fremont, California

• The share of the population employed in the IT sector is 20,9%
• The ratio of purchase and rental prices in the city is 28,7

8. Seattle, WA

• The share of the population employed in the IT sector is 17,9%
• The ratio of purchase and rental prices in the city is 24,1

7. Arlington, VA

• The share of the population employed in the IT sector is 25,4%
• The ratio of purchase and rental prices in the city is 19,6

6. San Francisco, CA

• The share of the population employed in the IT sector is 20,5%
• The ratio of purchase and rental prices in the city is 26,9

5. Kirkland, WA

• The share of the population employed in the IT sector is 20,1%
• The ratio of purchase and rental prices in the city is 24,9

4. Ashburn virginia

• The share of the population employed in the IT sector is 22%
• The ratio of purchase and rental prices in the city is 17,9

3. Bellevue, WA

• The share of the population employed in the IT sector is 24,3%
• The ratio of purchase and rental prices in the city is 27

2. Sammamish, WA

• The share of the population employed in the IT sector is 27%
• The ratio of purchase and rental prices in the city is 27,4

1. Reston, VA

• The share of the population employed in the IT sector is 27,9%
• The ratio of purchase and rental prices in the city is 17,2.

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