But it’s not saving tech workers any money on housing costs, at least according to a study from Zillow and Linkedin. In fact, compared to salaries and housing costs in the Bay Area, it’s costing them $140 a month.
Higher salaries in the Bay Area balance out better with the higher home prices in the area, researchers say. In Denver, high demand and low inventory means that relatively lower salaries don’t go as far.
In fact, Denver tech workers who own their home have the least disposable income among the 15 metros studied: $4,021 per month, according to the study. For renters, it’s $3,373 per month.
If you’re saying to yourself, well, that’s still a lot of money, you’re right. Combined with labor market growth and rental housing costs, that placed Denver sixth among 15 other metros studied.
Health care workers in Denver actually have better prospects, according to the study. Zillow and LinkedIn ranked Denver fourth when it comes to that industry.
Still, Denver healthcare workers, whether they rent or own, had the least disposable income of the group. Likewise, Denver tech and finance workers had among the least disposable income after housing costs.
With fewer and fewer listings coming online in Denver, I wouldn’t expect that to change any time soon.