Why drop seven figures on a house in San Francisco, when you can get more for your money elsewhere? Tech workers from the Bay Area would rather live in these five cities nationwide, according to a survey from Wealthfront.
About 1 in 4 tech clients at Wealthfront in the Bay Area think they’ll settle down in New York, Chicago and Austin, Texas, according to a survey of the firm’s investors.In contrast, those who plan to move to Austin and Chicago might spend as little as $400,000, Wealthfront found.Why buy a house in San Francisco when you can snap up something more affordable in New York?
Bay Area tech workers are showing some sensitivity to the cost of housing in the region, according to a survey from Wealthfront, an investment management firm that provides robo-advisor services. The firm polled close to 2,700 of its clients through the first five months of this year. All of the participants work in the Bay Area at tech companies.
Close to a quarter of clients think they'll flee altogether and head for cheaper cities elsewhere in the U.S., including Chicago and Austin, Texas. These potential buyers have set their sights on affordable dwellings, too, said Kate Wauck, vice president of communications at Wealthfront.
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