The Tech Talent Scorecard is determined based on 13 unique metrics, including tech talent supply, gender diversity, growth, concentration, cost, completed tech degrees, industry outlook for job growth, and market outlook for both office and apartment rent cost growth.
Newark stood out in the report in a number of other key areas:
- Newark is a tech talent creator. In the last five years the metro produced 6,153 more tech graduates than the market could employ. The region produced more than 2,750 new tech grads in 2017, up 57.3 percent in the past five years.
- The rent-to-tech wage ratio is relatively low at 18.6 percent. The average apartment rent for a year in 2019 is $20,597 ($1,716/month), and the average annual tech wage is $110,772. In the most expensive market, New York (Manhattan), NY, those numbers are $49,445 ($4,120/month) and $113,500, (a rent-to-wage ratio of 43.6 percent) respectively.
- The Greater New York area is the most gender diverse market for tech occupations, with 71.7 percent male and 28.3 percent female.