- A recent study by real-estate brokerage Redfin reveals five emerging tech hubs across the US where software engineers with a median income can still afford to buy a home.
- Redfin teamed up with LinkedIn to gather the percentage of year-over-year job growth and the median income for software engineers in each hub.
- The share of affordable homes in each tech hub was found using Redfin's housing affordability dashboard. The study considers homes affordable if they cost less than 30% of the owner's gross income.
- Visit Business Insider's homepage for more stories.
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Forget San Francisco: Here are 5 rising tech hubs across the US where housing is still affordable for software engineers
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Home prices in San Francisco are so outrageously high that even people with high-paying tech jobs are being priced out.
According to Zillow, the average price of a home in San Francisco is $1,351,500 , making it one of the most expensive cities in the country . The median income for a software engineer in the Bay Area is $186,300 . However, even a paycheck like that is no match for the area's soaring housing prices.
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Seattle-based real estate brokerage Redfin recently released a study that reveals five emerging tech hubs across the US where software engineers making a median salary can still afford to buy a home.
By teaming up with LinkedIn , Redfin was able to gather both the job growth and median income for software engineers in each hub. The study only looked at metro areas with emerging tech scenes where the year-over-year job growth for software engineers was greater than 3% as of January 2019.
The share of affordable homes in each tech hub was found using Redfin's housing affordability dashboard. The study considers homes affordable if they cost less than 30% of the owner's gross income.
Keep reading for the list of five rising tech hub with affordable housing, arranged in no particular order.
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See Also:
- Hudson Yards is now NYC's most expensive neighborhood. I toured the first residential building to open in the $25 billion neighborhood and it was clear it's selling much more than just real estate.
- The 25 fastest-growing cities in the US, ranked
- The 15 best US cities to buy waterfront property in without breaking the bank
SEE ALSO: The 15 best US cities to buy waterfront property in without breaking the bank
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