The Growing Tech Economy of Austin

Austin, Texas, has witnessed a phenomenal rise in its technological economy over the past decade. Nicknamed “Silicon Hills,” the city has attracted a surge of tech companies and startups, leading to significant growth and transformation. This boom can be seen in several key metrics.

Firstly, job creation within the tech sector has outpaced national trends. Over the last ten years, tech jobs in Austin have grown by a staggering 63.6%, compared to the national average of 22.4%. This translates to a higher concentration of tech jobs in Austin compared to the rest of the country, with tech representing 16.3% of all jobs in the Austin metro area compared to just 9.0% nationally.

Secondly, this tech boom has fueled economic prosperity. The average salary in Austin has grown by 47.3% overall, with tech sector salaries experiencing even higher growth at 42.6%. This economic strength has however, come with its challenges. The influx of high-paying tech jobs has driven up the cost of living, particularly housing, making affordability a growing concern.