Silicon Valley is no longer the top tech hub for professionals, according to a new report. “The Wall Street Journal” and Moody’s Analytics released their annual rankings of America’s hottest job markets and expensive coastal areas like the San Francisco Bay Area and Los Angeles are being replaced by much more affordable areas across the country.
- They compared 380 metro areas to determine the strongest labor markets based on five factors: unemployment rate, labor force participation rate, employment level changes, labor force size and wages.
- This year’s best city for job seekers is Salt Lake City, Utah, which the Journal notes is now referred to as “Silicon Slopes,” referring to the area surrounding Lehi, where many tech start-ups are now based.
- Realtor.com reports that Salt Lake City, which has a population of just over 204-thousand, has a median home price of $570-thousand, compared to $1.2-million in Los Angeles and San Francisco, making it a much more affordable option.
- Number two is Jacksonville, Florida, which has been climbing in the rankings for the last few years and the median home price there is $415-thousand.
- Florida has four metros in the top 10: Jacksonville, Orlando, Tampa and Miami, while Texas has two: Austin and Dallas.
The Top 10 Hottest Job Markets in 2024
- Salt Lake City, Utah
- Jacksonville, Florida
- Orlando, Florida
- Tampa, Florida
- Oklahoma City, Oklahoma
- Miami, Florida
- Austin, Texas
- Nashville, Tennessee
- Seattle, Washington
- Dallas, Texas
Source: Daily Mail