Chapter 1

What are the top-ranked Tech Talent markets?

Scoring Tech Talent 2025

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Fifty of the largest markets by number of tech talent professionals in the U.S. and Canada were analyzed to create a scorecard ranking them comparatively (Figure 4).

The scorecard uses 13 metrics to measure each market’s depth, vitality and attractiveness to companies seeking tech talent and to tech workers seeking employment. Each metric is weighted by its relative importance to job creation and innovation. Tech talent concentration metrics have the highest weights because they signify clustering of tech workers. Labor costs for tech talent are weighted more heavily than office rents because companies allocate more capital to labor than to real estate.

The San Francisco Bay Area, Seattle and Toronto were the top three tech talent markets. New York Metro and Austin rounded out the top five. The Waterloo Region entered the top 10 for the first time due to strong job growth. Denver and Ottawa fell out of the top 10. Markets that moved up the most within the top 25 were the Waterloo Region (+11 spots), Raleigh-Durham (+4 spots) and Calgary (+3 spots).

Figure 4: Tech Talent Scorecard Ranking

Source: CBRE Research, CBRE Econometric Advisors, U.S. Bureau of Labor Statistics, Statistics Canada, Oxford Economics, National Center of Education Statistics, National Science Foundation, Axiometrics, CMHC, Canadian universities, 2025.

Figure 4: Tech Talent Scorecard Ranking

Sources: CBRE Research, CBRE Econometric Advisors, U.S. Bureau of Labor Statistics, Statistics Canada, Oxford Economics, National Center of Education Statistics, National Science Foundation, Axiometrics, CMHC, Canadian universities, 2025.

As companies across all industries use more technology, there is high demand for tech talent in both large and small markets. Major gateway markets dominate overall tech talent growth because of their size. These and other markets with tech talent labor pools of more than 50,000 workers are categorized as “large,” while those below this threshold are categorized as “small” (Figure 5).

Both large and small markets have their advantages: While large markets generally have a deeper pool of talent, small markets typically offer business and cost-of-living savings. Between 2021 and 2024, the New York Metro added the most tech talent jobs (47,940), followed by Dallas-Ft. Worth (47,100) and Toronto (42,900). Markets with the highest tech job growth rates were Calgary (61%), the Waterloo Region (58%), Nashville (29%), Dallas-Ft. Worth (26%), San Antonio (26%) and South Florida (25%).

Tech talent concentration—the percentage of total employment—is an influential factor in how “tech” the market is and in its growth potential. Tech talent comprises more than 10% of total employment in Ottawa, the Waterloo Region, the San Francisco Bay Area and Toronto. The 50-market average was 5.3%.

Figure 5: Tech Talent Workforce by Market (2024)

Source: U.S. Bureau of Labor Statistics, Statistics Canada, May 2025.

Tech talent concentration by industry is another influential factor in attracting tech employers. While many technical skills are transferable across industries, specific industry experience can help to enhance innovation. In both the U.S. and Canada, more than 38% of tech talent works within the tech industry. By market, this concentration varies considerably even though the tech industry was the largest tech talent employer in all markets except Ottawa. The San Francisco Bay Area, Seattle, Vancouver, Austin and the Waterloo Region had the highest concentrations of tech talent within the tech industry, each over 50% (Figure 6). Columbus, Cincinnati and Richmond had the lowest tech concentrations.

Certain markets had high concentrations of tech talent in non-tech industries, including government in Ottawa (39%) and Sacramento (21%). Charlotte (28%), Columbus (27%), Hartford (25%) and Richmond (23%) had relatively high concentrations of tech talent in finance, insurance & real estate.

Figure 6: Share of Tech Talent Workforce in the Tech Industry (2024)

Source: U.S. Bureau of Labor Statistics, Statistics Canada, CBRE Research, IPUMS, May 2025.
In both the U.S. and Canada, more than 38% of tech talent works within the tech industry. By market, this concentration varies considerably.

Traditionally, tech companies often based location decisions on which markets had the most available tech workers. Today, tech employers are more interested in attracting people with specific tech skills, which often command higher wages. Tech companies pay wages that are about 18% above the U.S. average and have more workers earning over $150,000 per year than other industries (Figure 7). However, since the tech industry has slowed hiring, other industries have more opportunities to build their tech talent teams.

Average tech talent wages are highest by a wide margin in the San Francisco Bay Area and Seattle and lowest in Edmonton and Quebec City (Figure 8).

Figure 7: Average Annual Wage for Tech Talent by Industry (2023)

Source: U.S. Census Bureau, IPUMS, Statistics Canada, CBRE Research, May 2025.
Note: Canada share with $150,000+ annual wage unavailable.
* US$
** Includes computer software & services and computer product manufacturing
*** Excluding High Tech. Note: Canada share with $150,000+ annual wage unavailable.

Figure 8: Average Annual Wage for Tech Talent Employed by the Tech Industry (2023)

Source: U.S. Census Bureau, IPUMS, Statistics Canada, CBRE Research, May 2025.
* US$

Software engineers are also highly concentrated in the tech industry and in certain markets. In the U.S. and Canada, 50% and 52% of all software engineers, respectively, work within the tech industry. Vancouver (71%) and the San Francisco Bay Area (70%) had the highest concentrations of software engineers working in the tech industry (Figure 9). Calgary, Seattle and Austin had concentrations above 60%.

Figure 9: Top 15 Markets for Software Engineers Employed by the Tech Industry (2023)

Source: U.S. Census Bureau, IPUMS, Statistics Canada, CBRE Research, May 2025.

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Chapter 2 Which markets have the most Tech Talent specializing in Artificial Intelligence?
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