10 Cities That Could Be The Next Silicon Valley
2 Austin, TX
Austin is one of the most alluring tech hubs in the country, for several reasons. First, it has a young, educated population, a large venture capitalist presence, and a world-renowned music and restaurant scene. It was named the “best performing city in the US” in 2015 by the Milken Institute, and ranks #2 on Forbes for future job growth because of its burgeoning tech scene, and because 9,000 new tech jobs will be created by 2017.
Austin is home to powerhouses Dell, National Instruments, Flextronics, and 17 companies on the Inc. 5000, including one of the country’s most promising startups, mobile app developer Phunware. The real estate market is very positive, with ULI and PricewaterhouseCoopers ranking Austin second on their list of “US Markets to Watch: Overall Real Estate Prospects.” The median real estate purchase price is $216,000.
Affordability of real estate, a big venture capitalist presence, and a positive growth in market employment are three huge reasons attracting investors and techies to Austin, making the city a tech-powerhouse in the making.