Driven by the rising costs of living and office space in technology corridors such as San Francisco and New York City, more companies are looking to the Denver area to find affordable bases of operation in a talent-rich population. The Mile-High City has seen a steady influx of both employers and tech talent.
- Denver's average tech wage is $100,383, a 20 percent increase in just five years,
- Denver ranked ninth among large urban markets
- Denver area's millennial population increased by seven percent from 2010 to 2015.
Millennials make up 22 percent of the entire workforce, so the city's ability to attract them has fueled job growth. Urban amenities, improved transportation, and the plethora of outdoor activities make this an inviting place to be for younger workers. If you are a tech worker, this might be a good place to focus your job search.
Let's look at a few hot submarkets that are attracting the attention of tech companies.
This city lies 29 miles northwest of Denver at the foot of the Rocky Mountains and has been a top choice for tech firms and startups since the Cold War. Its popularity puts office space at a premium, but with giants like Google and Twitter in residence, the deep talent pool continues to attract newcomers. It's also the most expensive Denver area for companies and the workforce.
On the other hand, Boulder companies pay average salaries of over $119,000, which workers need in order to afford $63,218 in rent, transportation, healthcare and living costs. Boulder limits expansion to preserve greenspace. So, that price tag is likely to keep going up. If you love the outdoors but want to live in an urban area, Boulder is a great place to look for open positions in the tech sector.
Downtown Denver has improved its transportation infrastructure, and several new office buildings have been completed. This makes it possible for more companies to build bases of operation in the heart of the city. With a 14 percent vacancy rate and plentiful sublets, office space has become more of a renter's market. If you love being in a downtown mecca of culture and entertainment, apply for jobs in Downtown Denver.
The Homeowner services website HomeAdvisor has moved in as an anchor tenant and plans to move 300 employees here from Denver's suburbs. Online shopping giant Ibotta has also settled into a skyscraper in the business district. This is a better time than ever to consider a career change that brings you to the emerging market of Downtown Denver.
Denver Tech Center
The Denver Tech Center lies in the southeast corner of the city and is the most affordable submarket with new opportunities for tech workers. Many offices, such as AT&T Broadband and Cablevision, boast mountain views. If you want to be closer to the outskirts of town but within easy access to upscale restaurants and apartments, this could be your new home territory.
Move here and work in the neighborhood. Alternately, with convenient light rail access to Downtown Denver, you can have a suburban lifestyle with easy access to downtown amenities.
Employers in Denver's tech center spend $110,821 per employee, and the annual cost of living is $55,924.
Outlook for Software Engineers in the Mile-High City
If you are a software engineer, Denver is a hot market with plenty of jobs. LinkedIn calls the Denver area a saturated market, meaning that software engineers here are in a great position to negotiate higher salaries.
Despite the uptick in tech talent migrating to the area, Denver’s IT job market offers plenty of opportunities for Millennials. Since the IT industry currently has low unemployment rates, companies are likely to continue making concerted efforts to attract tech talent to the area. That is good news for you if you're currently in the job market.
Come work with an ICS recruiter to find a job that suits your needs in Denver. Tech talent and companies pick this city for a reason, and it has a lot to offer if you ask for it. Contact us today to open yourself up to plenty of opportunities to showcase your talents.