Austin, Texas, has seen a wave of tech workers leaving the city in recent months. A recent report from Insider found that Austin had the fifth-largest net outward migration among major U.S. cities from January to May 2023.
According to data from the U.S. Postal Service, Austin witnessed a substantial net outward migration between January and May of this year, ranking fifth among major U.S. cities. Surprisingly, it trailed behind New York, Los Angeles, and even Houston, which led the list as the city experiencing the highest exodus.
A few years ago, Texas held promise for tech enthusiasts, with Governor Greg Abbott wooing Californians with promises of “less government” and “smarter regulations.” Yet, the policies that followed have led some to question whether Texas is still an ideal place to live and work.
There are a number of reasons for the exodus, including Austin no longer seen as a top destination for tech talent. A report from CBRE found that Austin ranked outside the top five tech talent markets in the United States.
Also on the list is the fact that cost of living in Austin has been rising rapidly, making it difficult for many tech workers to afford to live there. Additionally, some tech workers are unhappy with the political climate in Texas, which is becoming increasingly conservative.
Reports also point to a talent gap between San Francisco and Austin, with the latter falling behind in CBRE’s list of top tech talent markets. San Francisco’s dominance, fueled by a tech talent workforce comprising nearly 12 percent of total employment, dwarfs Austin’s average of 5.6 percent.
The sources for this piece include an article in CHRON.
