Yes, Rent Is Rising Much Faster in America's Tech Hubs

In the bitter debate over rising rents amid San Francisco's second tech boom, it's difficult to separate the one from the other. Does the presence of Google necessarily drive up rent? Are tech hubs and affordable housing mutually exclusive? If so, what does that mean not just for San Francisco, but also for Austin, and Raleigh, and Seattle?

Looking across the country at the housing markets in America's 10 largest tech hubs, the answer is mixed. Asking prices for for-sale homes are rising faster than they are in the rest of America's 100 largest metros, according to an analysis released today by Trulia. But these tech centers – defined as the metros where Internet industries make up the largest share of the local economy – are also rebounding from steeper price declines, and they have fewer foreclosed homes on the market. Factor in those variables, and housing prices in these 10 metros that have bet heavily on the digital economy are actually rising on par with national trends.