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September 9, 2024

CBRE: Hartford ranks as top 50 city for tech talent in U.S., Canada

By Andrew Larson

Hartford is ranked as the 43rd best market for tech talent in the United States and Canada, according to a recent report from international real estate services firm CBRE.

CBRE analyzed the markets based on 13 metrics and awarded Hartford a score of 29.4. 

San Francisco, Seattle and New York City were the top three markets, the study found, followed by Toronto, Canada; Austin, Texas; Washington D.C.; Boston and Denver. 

Hartford scored ahead of larger cities including Cincinnati, Cleveland and Milwaukee.

The study found that Hartford has 28,430 tech workers, an increase of 3.7% from 2018 to 2023. The tech concentration of Hartford’s workforce was about 5% in 2023.

Hartford’s average annual salary for a tech worker was $111,601 in 2023, according to the study.

Hartford had a relatively high concentration of tech talent in non-tech industries (25%), including finance, insurance and real estate, the study found.

On the other hand, Hartford had the second-least diverse small tech market among those CBRE analyzed, with only 13.6% of its tech workers being members of an underrepresented group.

Hartford also had the highest office vacancy rate – 29.1% – as of the fourth quarter of 2023, according to the study.

The population of Hartford residents in their 20s grew 1.8% from 2017 to 2022, compared to an 8.1% increase of residents in their 30s, the study says. However, the city’s population of people in those age brackets with college degrees decreased 4.2% and 15.8%, respectively, during the same timeframe.

The full study is below:

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