U.S. Tech-Twenty: Measuring Office Market Impact

September 2013


  • The services sector of the high-tech industry accounted for one of every four new office-using jobs created nationwide between 2009 and mid-2013 and has played a major role in the gradual improvement of the U.S. office market.
  • Of the 20 markets tracked in the report, San Francisco, Austin, San Francisco Peninsula, New York City and Chicago were the two-year high-tech services job growth leaders.
  • Many top job growth markets saw strong increases in average asking rents over the past two years, highlighted by double-digit increases in the Bay Area markets and Austin.
  • Markets with strong high-tech services job growth and moderate rent increases—such as Chicago, Raleigh-Durham, Atlanta and Salt Lake City—are attractive opportunities for growing tech companies and real estate investors.
  • Ten of the top tech submarkets within the Tech-Twenty markets posted two-year rent growth of at least 10%, headlined by increases of more than 40% in SOMA (San Francisco), Redwood City (San Francisco Peninsula), Midtown South (New York City) and Mountain View (Silicon Valley).

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download the U.S. Tech-Twenty: Measuring the Office Market Impact report including the 20 local market appendices