If you’re a technology company that’s facing a real estate decision now, or in the near term, you’re likely looking at a challenging marketplace.
•Competition for a limited talent pool is fierce.
•Competition for a great location, also fierce.
•Once you’ve picked a location, finding the right
space is also tough.
•And when you do find one, their asking rent is high - REALLY HIGH.
Don’t let us lead you astray, however. Despite the current challenges, there remain many
opportunities—if you know where to look. To uncover new possibilities, we looked at markets
with the following dynamics:
•A high concentration of software developers,
computer programmers, or web developers
(and at least 5,000 employed in such occupations)
•Some remaining slack in employment
•Vacancy rates that mean there’s still supply
to choose from
•Markets that have a new developments under construction
What we found was this: As of May 2016 (the latest data available), there are nearly 400,000 more software developers than computer programmers. Thanks to the advent of do-it-yourself web design, that job appears to be a dying occupation. For reference, there were
113,000 web developers in 2013, and just under 80,000 today. (So for the remainder of this study, we’re going to leave web developers out of the story.)