The Ultimate Guide to Comparing U.S. Tech Hubs

Silicon Valley Isn’t the Only Option

Cost of Living: Percent above the national average. (Most recent data from 2015.)

  • Austin: 10.90%
  • Boston: 18.40%
  • Denver: 6.70%
  • New York: 23.30%
  • Raleigh-Durham: 0.70%
  • San Francisco: 50.50%
  • Seattle: 21.30%
  • Washington, D.C.: 24.60%

Job Postings: per 1,000 people. (Most recent data from 2016.)

  • Austin: 44
  • Boston: 40
  • Denver: 54
  • New York: 26
  • Raleigh-Durham: 56
  • San Francisco: 38
  • Seattle: 46
  • Washington, D.C.: 38

Per Capita Annual Income: (Most recent data from 2014.)

  • Austin: $32,672
  • Boston: $34,770
  • Denver: $34,423
  • New York: $32,459
  • Raleigh-Durham: $30,110
  • San Francisco: $49,986
  • Seattle: $44,167
  • Washington, D.C.: $46,502

Job Growth Rate: (Most recent data from 2014.)

  • Austin: 4.2%
  • Boston: 1.8%
  • Denver: 3.7%
  • New York: 2.40%
  • Raleigh-Durham: 2.95%
  • San Francisco: 4.6%
  • Seattle: 3%
  • Washington, D.C.: 0.6%

Unemployment Rate: (Most recent data from 2015.)

  • Austin: 3.5%
  • Boston: 4.60%
  • Denver: 3.80%
  • New York: 6.10%
  • Raleigh-Durham: 4.30%
  • San Francisco: 3.50%
  • Seattle: 4.40%
  • Washington, D.C.: 4.70%

Median 1-Bedroom Rent: Monthly USD. (Most recent data from 2016.)

  • Austin: $1,200
  • Boston: $2,500
  • Denver: $1,340
  • New York: $3,500
  • Raleigh-Durham: $900
  • San Francisco: $3,460
  • Seattle: $1,730
  • Washington, D.C.: $2,170

Office Rentals USD: per square foot per month. (Most recent data from Q1 of 2016.)

  • Austin: $33.52
  • Boston: $32.62
  • Denver: $24.56
  • New York: $72.40*
  • Raleigh-Durham: $27.17
  • San Francisco: $68.44
  • Seattle: $24.47
  • Washington, D.C.: $51.63

Total Square Feet of Available Space: (Most recent data from Q1 of 2016.)

  • Austin: 4,218,954
  • Boston: 8,880,354
  • Denver: 12,345,306
  • New York: 35,436,272*
  • Raleigh-Durham: 589,158
  • San Francisco: 4,310,254
  • Seattle: 5,789,712
  • Washington, D.C.: 12,868,353

Number of Companies: (Most recent data from 2013. Includes all companies.)

  • Austin: 36,687
  • Boston: 101,399
  • Denver: 62,992
  • New York: 493,151
  • Raleigh-Durham: 34,770
  • San Francisco: 101,709
  • Seattle: 80,818
  • Washington, D.C.: 114,339

Number of New Companies: (Most recent data from 2012-13. Includes all companies.)

  • Austin: 1,237
  • Boston: 845
  • Denver: 1,175
  • New York: 7,086
  • Raleigh-Durham: 501
  • San Francisco: 1,374
  • Seattle: 1,151
  • Washington, D.C.: 1,553

Corporate Income Tax Rate: (Most recent data from 2016.)

  • Austin: None
  • Boston: 8%
  • Denver: 4.63%
  • New York: 6.5% to 8.5%
  • Raleigh-Durham: 5%
  • San Francisco: 8.84%
  • Seattle: None
  • Washington, D.C.: 9.20%

Share of Global Venture Capital Investment: Venture capital investment in the area divided by total global venture capital investment. (Most recent data from 2012.)

  • Austin: 1.50%
  • Boston: 7.40%
  • Denver: 0.58%
  • New York: 5%
  • Raleigh-Durham: 1.30%
  • San Francisco: 15%
  • Seattle: 1.70%
  • Washington, D.C.: 2%

Net Migration: The difference of immigrants and emigrants of an area in a period of time. (Most recent data from 2015.)

  • Austin: (+) 9,570
  • Boston: (+) 1,360
  • Denver: (+) 8,390
  • New York: (-) 5,310
  • Raleigh-Durham: (+) 5,200
  • San Francisco: (+) 2,690
  • Seattle: (+) 6120
  • Washington, D.C.: (+) 890

Crimes: per 100,000 people. (Most recent data from 2015.)

  • Austin: 3,724
  • Boston: 2,676
  • Denver: 3,084
  • New York: 2,227
  • Raleigh-Durham: 3,293
  • San Francisco: 3,996
  • Seattle: 4,068
  • Washington, D.C.: 2,800

Science and Engineering Degrees: Number of residents who hold science and engineering degrees. (Most recent data from 2014.)

  • Austin: 131,682
  • Boston: 99,661
  • Denver: 96,722
  • New York: 908,311
  • Raleigh-Durham: 101,926
  • San Francisco: 184,478
  • Seattle: 154,630
  • Washington, D.C.: 136,264

Higher Education: Percent of population with a bachelor’s degree or higher. (Most recent data from 2014.)

  • Austin: 41.50%
  • Boston: 43.30%
  • Denver: 40.30%
  • New York: 37%
  • Raleigh-Durham: 44.60%
  • San Francisco: 49.90%
  • Seattle: 43.40%
  • Washington, D.C.: 47.30%

Walk Score: A number between 0 and 100 that measures the walkability of any address.

  • Austin: 39
  • Boston: 81
  • Denver: 60
  • New York: 89
  • Raleigh-Durham: 29
  • San Francisco: 86
  • Seattle: 73
  • Washington, D.C.: 77

Transit Score: A patented measure of how well a location is served by public transit.

  • Austin: 34
  • Boston: 74
  • Denver: 47
  • New York: 84
  • Raleigh-Durham: 25
  • San Francisco: 80
  • Seattle: 57
  • Washington, D.C.: 71

Bike Score: Measures whether an area is good for biking.

  • Austin: 52
  • Boston: 70
  • Denver: 71
  • New York: 65
  • Raleigh-Durham: 40
  • San Francisco: 75
  • Seattle: 63
  • Washington, D.C.: 69

Average Commute in Minutes: (Most recent data from 2015.)

  • Austin: 26
  • Boston: 32
  • Denver: 27
  • New York: 37
  • Raleigh-Durham: 25
  • San Francisco: 30
  • Seattle: 28
  • Washington, D.C.: 34

Sources:

  • www.walkscore.com
  • www.forbes.com/places
  • www.forbes.com/best-places-forbusiness
  • www.indeed.com/jobtrends/ percapita
  • www.baruch.cuny.edu/nycdata/ income-taxes/per_cap.htm
  • www.apartmentlist.com/ rentonomics/national-rent-data
  • www.cushmanwakefield.com/en/ research-and-insight
  • www.colliers.com/-/media/files/marketresearch/unitedstates/2016-researchreports/1q_usoffice_rport_ d6.pdf?submissionGuid= a7988ce6-6a20-421c-8970- 2a8e2fa4245d
  • martinprosperity.org/media/Riseof-the-Global-Startup-City.pdf
  • martinprosperity.org/media/ Startup-US-2016_Spiky-VentureCapital_Revised.pdf
  • www.census.gov//econ/susb/ data/susb2012.html
  • www.census.gov/econ/susb www.mass.gov/dor/all-taxes/taxrate-table.html#return5
  • www.metrodenver.org/dobusiness/taxes/corporate
  • www1.nyc.gov/assets/finance/ downloads/pdf/15pdf/corporatetax-reform.pdf
  • www.dor.state.nc.us/taxes/ corporate/rate.html
  • www.dor.state.nc.us/taxes/ corporate/rate.html
  • www.tax-rates.org/california/ corporate-income-tax
  • cfo.dc.gov/node/232942http://cfo.dc.gov/node/232942
  • factfinder.census.gov/faces/ nav/jsf/pages/searchresults. xhtml?refresh=t#none

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