Austin, Seattle, Denver, San Francisco, and Raleigh top the list of cities with the most momentum for STEM job growth
BETHESDA, MD., December 12, 2024 —
Leading real estate advisory firm RCLCO Real Estate Consulting, announced today the results of their 2024 STEM Job Growth Index (STEMdex), which projects which metropolitan areas will have the strongest outlook for growth in STEM jobs. Published annually since 2016, the STEMdex tracks and projects STEM job growth trends across the country by analyzing the economies of the largest metropolitan areas to understand which regions are attracting the jobs and employees of the future. Read the full report online.
“STEM jobs, driven by a highly educated workforce, are among the highest-paying and most economically impactful roles in any market.” said Gregg Logan, Managing Director at RCLCO, “Their significance to the economy is immense, and our STEMdex, now in its eighth edition, is designed to spotlight markets with robust industry employment today and those poised for significant growth in the future. The STEMdex offers a straightforward and intuitive tool to help people grasp the employment and housing trends that STEM job growth will bring to these cities in the coming years.”
The index’s analysis focuses on metrics in four major areas RCLCO finds to be paramount to the growth of STEM jobs: STEM Trends/Economic Factors, Workforce Quality, Quality of Life/Health, and Business Climate. In total, RCLCO identified and weighted 23 different indicators they believe best characterize the four major categories and can quantify their impact on the STEM job market. Some of the highlights of this year’s list include:
- Austin, TX remains in the top spot for the third year in a row, and sixth time in eight years
- Phoenix, AZ was the only new entrant to the Top 20 of the STEMdex this year.
- Of the largest fifty MSA’s, San Jose has the highest concentration of STEM jobs today.
- Austin, TX scores highest in Economic Factors and Workforce Quality. Portland, OR has the highest Quality of Life Score, and Dallas, TX scores highest in Business Climate.
- The top 5 most heavily concentrated STEM markets – San Jose, San Francisco, Seattle, Washington D.C., and Austin all rank within the top 10 for projected future job growth.
This year’s list includes three metropolitan areas from California, while Texas and North Carolina each have two cities in the top 20. No other state features more than one city in the 2024 rankings. The results remain largely consistent with 2023, with two notable changes: Philadelphia, which ranked 20th last year, dropped off the list, replaced by Phoenix, AZ. Additionally, Minneapolis slipped five spots, while San Diego climbed five places. The top 20 cities include:
About RCLCO
Since 1967, RCLCO has been the “first call” for real estate developers, investors, the public sector, and non-real estate companies and organizations seeking strategic and tactical advice regarding property investment, planning, and development. RCLCO leverages quantitative analytics and a strategic planning framework to provide end-to-end business planning and implementation solutions at an entity, portfolio, or project level. With the insights and experience gained almost six decades and thousands of projects, RCLCO brings success to all product types across the United States and around the world. RCLCO is organized into three overlapping and reinforcing service areas: real estate economics, management consulting, and advisory services for institutional investors through RCLCO Fund Advisors. RCLCO is headquartered in Bethesda, MD and has offices in Austin, TX, Denver, CO, Los Angeles, CA, New York, NY and Orlando, FL.
Media Contact
Rachel Hoeft
Senior Marketing Manager
E: rhoeft@rclco.com
