For the 10th year commercial real estate and investment firm CBRE has examined 13 measures, including tech graduation rates and job concentration, real estate and labor costs. It said Phoenix has 99,600 people in the tech labor pool — positions like software developers and engineers — an 18% increase over the past five years.
Rents have also jumped during that time — offices average 20% more and apartments average almost 60% more. According to CBRE, Phoenix metro apartment rents increased the most of the 50 markets analyzed.
The average software engineer in the Valley makes more than $96,000 annually, about $40,000 more than the overall average.
Tech workers make up nearly 5% of total workers in the metro area. CBRE’s report ranked Phoenix 13th for annual technology degree completions at 5,766.
Top-ranked tech talent markets for 2022 are San San Francisco Bay area; Seattle; Toronto; Washington, D.C.; and New York metro. Markets that climbed the most in rankings are Dallas/Fort Worth, Philadelphia, south Florida and Milwaukee.
