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Wealth Management
Top 20 Markets for Office Rent Growth
WMRE Staff Nov 22, 2021

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20. Detroit
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In spite of posting a slight increase in office rent growth, Detroit actually lost 2,135 high-tech software and services jobs between the second quarter of 2019 and the second quarter of 2020—a loss of 4.4 percent compared to 2017-2018. It also lost 19,924 office-using jobs over the 2019-2020 time period.

19. Philadelphia
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Philadelphia saw a slight uptick in new high-tech jobs in 2019-2020, at 1,540 positions, representing an increase of 3.5 percent. The city lost 14,033 office-using jobs during the period.

18. Atlanta
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The Southeastern city saw the addition of 7,557 high-tech jobs over the period studied, an increase of 8.8. percent. It added a total of 2,197 office-using jobs between the second quarter of 2019 and the second quarter of 2020.

17. Boston
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Tech companies in Boston added 8,839 jobs, representing an increase of 7.1 percent. However, the city lost 11,251 office-using jobs during the period.

16. Chicago
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Chicago posted an addition of 6,799 new high-tech jobs, an increase of 6.6 percent. At the same time, between the second quarter of 2019 and the second quarter of 2020, the Windy City lost a staggering 56,218 office-using jobs.

15. San Diego
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San Diego saw its high-tech sector grow by 2,813 jobs, an increase of 7.9 percent. It lost 8,247 office-using jobs during the period.

14. Dallas/Ft. Worth
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The tech sector in Dallas/Ft. Worth expanded by 13,692 jobs—an increase of 12.7 percent. The city added 7,731 office-using jobs over the past two years.

13. Indianapolis
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Tech companies in Indianapolis added 2,329 new jobs, representing an increase of 8.9 percent. The city lost 6,468 office-using jobs during the period.

12. Salt Lake City
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Salt Lake City saw its tech sector grow by 3,848 jobs over the past two years. It added 8,778 office-using jobs during the period.

11. Raleigh-Durham, N.C.
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The Raleigh/Durham area registered the addition of 4,723 new high-tech jobs, an increase of 12.0 percent. The market added 3,521 office-using jobs during the period.

10. Nashville, Tenn.
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The tech sector in Nashville expanded by 1,306 new jobs, an uptick of 8.3 percent. Over the past two years, the city added 2,377 office-using jobs.

9. St. Louis
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New tech jobs in St. Louis totaled 2,135 in number, representing an increase of 7.2 percent. There were 643 new office-using jobs created during the period.

8. Los Angeles
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Tech companies in Los Angeles added 6,431 new jobs over the past two years, an increase of 8.0 percent. During the same period, the city lost 63,689 office-using jobs.

7. Phoenix
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Phoenix saw the addition of 9,496 new high-tech jobs. The number of its office-using jobs grew by 16,212.

6. Denver
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The tech sector in Denver expanded by 8,739 jobs, representing an uptick of 11.5 percent. Over the past two years, the city lost 1,091 office-using jobs.

5. Montreal
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Montreal saw the addition of 12,600 high-tech jobs, an increase of 14.6 percent. The city saw its office-using jobs increase by 3,700 during the period.

4. Austin, Texas
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The growing Texas city registered 9,368 new tech jobs during the past two years, amounting to growth of 16.4 percent. It added 11,070 office-using jobs over the period.

3. Charlotte, N.C.
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Charlotte saw its tech sector expand by 3,313 jobs, an increase of 13.2 percent. It registered the addition of 4,354 office-using jobs.

2. Vancouver
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Tech jobs in Vancouver expanded by 12,900, a growth rate of 20.9 percent. The city lost the same number of office-using jobs during the period.

1. Seattle
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Seattle saw an influx of 39,559 high-tech software and services jobs during the period, representing growth of 21.9 percent.

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