The DC region ranks high among tech talent markets

The DC area has a well-educated and diverse workforce, which is one of the main reasons technology companies choose to locate or expand here.

The DC region ranks 4th in CBRE’s 2022 Scoring Tech Talent report, based on an educated talent pool, among other factors.

The DC area’s strong performance is largely due to its educated workforce, according to the real estate and investment services firm.



“We actually have the highest ratio in the country of residents with a bachelor’s degree or above, at 51.7%, compared to 32.9% nationally. We also rank fourth nationally for technical degree completion,” said Meredith LaPier, vice president of CBRE’s office in Tysons, Virginia.

The San Francisco Bay Area was No. 1, followed by Seattle and Toronto, Canada, according to the CBRE report. The New York metro area ranked just below DC at No. 5.

The DC region also ranks first for diversity among major tech hubs, with 31.4% of IT professionals being women. Nationally, IT has always been a heavily male-dominated industry, but that is changing.

“When we look at technology degree programs nationally, we see improvements in the number of diverse students and graduates. Also, remote work and companies putting more emphasis on DE&I programs has really created an opportunity,” LaPier said.

The large pool of educated tech professionals is one of the main reasons tech companies choose to locate or grow here, but there are other lures.

Compared to other large, leading tech markets, the DC region has more affordable real estate costs. The average annual asking rent for offices is the seventh most expensive. The average rent for an apartment is the ninth most expensive. The ratio of tech salary to apartment rent of 20% is tied with Chicago, Phoenix and Seattle at 13th.

Higher education institutions in the region continue to produce a well-educated workforce, and the region attracts technology professionals from elsewhere to migrate to this region. The report says there is plenty of room to continue to grow the DC area’s tech industry.

“We’re actually producing more tech degrees than we’ve created jobs,” LaPier said. “And what that tells us is that we have more track in our region to continue to grow the region as a whole in terms of jobs and jobs.”

CBRE’s full Scoring Tech Talent 2022 report is available for download online.

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