All over the world, Silicon Valley is known as the cradle of technological innovation. At the moment, this is the place where words such as “startup” and “establishment” are active, and companies such as Apple, Google, Uber or Slack have acquired massive headquarters. Analysts from Expert Market, a US-based research bureau, argue that Silicon Valley may not be the best place to live and work, even if you want to work in the field of information technology. As it turned out, they (the analysts) were not the only ones who had the idea to look for alternatives.
“The world is full of people who do not realize their own potential, which is mostly due to the fact that the cities in which they live do not provide the opportunities and housing conditions necessary for success in this area,” writes Adora Chang, an employee of Y Combinator. In one of his blog entries, Chang notes the “unusable” housing prices in San Francisco, even for highly paid information technology workers.
For the RadPad application, which started as a startup, the data on rented housing were combined with reports on the salaries of employees involved in the field of information technology. As a result, it was concluded that the current average price for a one-bedroom apartment located within a half mile radius of the offices of companies such as Uber, Twitter, Google and Airbnb in San Francisco varies between 42% and 54% of the salary of a software engineer. Today, the prevailing view is that only 30% of income should be spent on housing to be considered affordable.
Analysts from Expert Market took a look at the latest city ratings provided by Compass, a management reporting software company. The data of this company was obtained when working with 11,000 startups, investors and shareholders. Thus, analysts from Expert Market made a list of 20 cities, which were evaluated by the following 8 factors: 1 to 20 (where 1 is the best and 20 is the worst), and all factors were assigned equal importance by degree. Additional information was also received from World Bank and Numbeo, who shared their data on the subsistence minimum. “Often cities that are dominated by the sphere of information technologies are estimated purely by economic indicators and people forget that they also need to live in these cities. That was our idea, ”says Bobby Brent, a researcher from the Expert Market. “Therefore, we have added to the number of factors those that determine the quality of life in order to make the most weighted by results list of 20 cities”. So, the list of 20 cities in which it is worth living and working, if you are a specialist in the field of information technology, is as follows