In 13 markets, high tech jobs grew faster in the past two years compared to the two years before, according to CBRE. San Francisco, Indianapolis, Dallas/Ft. Worth, Philadelphia, Baltimore and San Diego grabbed the most momentum.

Tech Submarkets

The top 30 tech office markets saw their average rents flatten, but their top tech submarkets edged higher. 

"Leading tech submarkets often outperform their overall office markets because tenants are willing to pay a premium in areas preferred by tech talent," according to CBRE. "Many of these submarkets have limited office availability and are near leading universities."

CBRE thinks that Silicon Valley, Washington, D.C., Vancouver, Atlanta, Dallas/Ft. Worth, Raleigh-Durham and San Diego are most resilient and poised for the most expansion.

Smaller Footprints 

But while these markets are well positioned for long-term growth, one mitigating factor might be a new tendency for some companies to scale back on their office footprint. 

In a survey by Savills North America of several hundred technology office tenants, a staggering majority of firms, 94%, said they expect remote work, at least a few days a week, to be normalized at their company in a post-vaccine environment.

According to the Savills technology practice group's survey, these shifts are prompting changed expectations on the office footprints of tech firms. 

"Honestly, the majority of our decisions are still in flux," said a Washington, DC-based survey respondent to Savills. "We love having office space to collaborate; however, our company has been operating wonderfully remote and feel it's irresponsible to bring people back in given the nature of our work until risk is all but eliminated."