5 cities where San Francisco technology companies are willing to move

Employees of technology companies in the Bay Area plan to leave San Francisco for more accessible regions.

Фото: Depositphotos

Wealthfront, an investment management firm that provides robots consultants, discovered this when it surveyed almost 2700 its customers who work for technology companies in the Bay Area.

The survey is based on an analysis of customer data for the first five months of 2019.

Less than a quarter of Wealthfront clients in the Bay Area plan to buy a home in San Francisco.

Those who decide to stay in Silicon Valley think that they can afford a house in the neighboring cities of Sunnyvale, Mountain View and San Jose.

But almost a quarter of customers believe that they will have to fully say goodbye to the Bay Area, choosing other relatively cheaper cities, such as Chicago and Austin, Texas.

“What's interesting is the stark discrepancy between what people will pay for a two-bedroom home in San Francisco and what they will pay in other cities like Austin,” said Kate Walk, vice president of communications at Wealthfront.

“People aren’t moving to other cities to buy bigger houses for the same price as they would in San Francisco,” she said. “Rather, they are choosing more modest homes.”

Indeed, the average price of a home in the Bay Area exceeds 1 a million dollars for a two-bedroom apartment.

For comparison, investors planning to move to Austin and Chicago will find there an average cost of less than $ 400 000 for a three-bedroom house.

Here are the top five cities that Wealthfront technology investors are ready to move to.

New York

Фото: Depositphotos

According to Zillow, the average price of a home in the New York-Newark-Jersey City area is $ 525 000. The region has the highest average Manhattan price ($ 1,569 million).

Austin

Фото: Depositphotos

This Texas city touts affordable housing—at least compared to San Francisco—and zero state income taxes. According to Zillow, the median price in Austin is $400. There are many tech companies there, including Apple. In fact, the area is known as "Silicon Hills."

Seattle

Фото: Depositphotos

Home to Amazon and Microsoft, this northwestern city is still considered expensive, although cheaper than Silicon Valley. The average home price is $ 699 950.

Los Angeles

Фото: Depositphotos

According to the Wealthfront study, some Bay Area technology workers are hoping to move south to Los Angeles. There, the average price of a home is $ 829,994.

Companies located in the so-called Silicon Beach area include Ring, the home security company currently owned by Amazon, and the Tinder dating service.

Chicago

Фото: Depositphotos

According to Zillow, the salary of a technology specialist can make a big difference in the City of Winds, where the average price of a house is $ 349 900.

Chicago is home to the Morningstar mutual fund research provider and is the outpost for Salesforce. The city also intends to encourage additional technology jobs through a public-private partnership known as World Business Chicago.

Read also on ForumDaily:

Top 20 of the most photographed attractions of San Francisco

San Francisco Homeless Beats Records

Scammers have come up with a clever way to steal money from Airbnb customers: how to protect yourself

Top-10 cities in the world with the highest salaries

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.