Tech workers in Seattle have thousands of dollars more left in their pockets each month than their peers in San Francisco, according to a new report from Zillow and LinkedIn.
Salaries may be higher in San Francisco, but Seattle tech workers who own their home keep an average of 59% of their income after paying taxes and housing, while Bay Area tech workers keep just 37%. The median home value in the San Francisco area is $789,300.
"High demand and inventory shortages have driven up housing prices in some markets so much that even if you land a great job, the salary might not cover living within commuting distance," said Zillow Chief Economist Dr. Svenja Gudell in a press release. "On the other hand, the nation's most affordable housing markets don't always offer plentiful employment opportunities.”
We already know San Francisco and Seattle pay their tech workers well, but money isn’t everything of course. A recent Reuters report found some young IT professionals in San Francisco are sharing living quarters with as many as 40 other people despite the high salaries many of them command.
So which city offers a good salary and affordable housing costs? The winner is Seattle, according to Zillow and LinkedIn, which combined their vast troves of housing and employment data to answer that question. If you work in tech and own a home in Seattle, you could end up with an extra $6,000 in your pocket each month after you pay your mortgage and taxes.
For technology workers who rent, Seattle, Austin and Pittsburgh, Penn., came out on top. Pittsburgh actually had one of the highest percentages of disposable income for renters, at 56.4%.