Prime Highlights:

• The number of skilled tech professionals in the U.S. and Canada grew over 50% in just one year, reaching more than 517,000 workers.
• Rising demand for skilled workers is boosting both residential and office real estate in major cities.

Key Facts:

• Manhattan saw rent growth of over 14% from 2021 to 2024, while Washington, D.C. recorded more than 12%, Seattle above 7%, and San Francisco nearly 6%.
• In the first half of 2025, tech firms rented 17% of U.S. office space, up from 10% in late 2022.

Key Background:

Across the U.S. and Canada, the number of tech professionals with advanced skills grew by more than 50% between mid-2024 and mid-2025, reaching over 517,000 workers, according to CBRE. Cities like San Francisco, New York, Seattle, Toronto, and Washington, D.C., are the main hubs, together accounting for more than one-third of the total.

Much of this growth comes from existing tech workers learning new skills, while some comes from new professionals entering the field. Around 20,000 new skilled workers joined the New York metro area, while cities such as Atlanta, Chicago, Dallas-Fort Worth, Toronto, and Washington, D.C., experienced a 75% or higher increase in skilled tech professionals over the past year.

The growing number of skilled workers is influencing housing and office markets. Rents have increased in major tech cities. Between 2021 and 2024, rent rose by more than 14% in Manhattan, over 12% in Washington, D.C., above 7% in Seattle, and nearly 6% in San Francisco. High-tech salaries make rent increases easier to handle, with most workers spending a reasonable portion of their income on housing. The rates of tech workers spending on rent in Manhattan are approximately 29 percent versus 19 percent in the San Francisco Bay Area or Washington.

There is also an increasing demand for office space. As of mid-25 2025, 17 percent of office space in the U.S. was taken by tech companies as compared to 10 percent at the end of 2022. In San Francisco, tech firms rented about one-quarter of all office space over the past two and a half years.

Experts say these trends are changing cities. Skilled workers are increasing demand for housing, offices, and retail spaces, showing the economic impact of areas with concentrated talent. With good salaries and growing demand for homes and office space, cities that attract skilled professionals are seeing a clear boost in economic activity and real estate growth.