By Danica McKellarUSA TODAY staffA new study released Wednesday by the Economic Innovation Group and the American Institute of Certified Public Accountants ranks the 25 biggest and 25 worst cities in the United States for tech professionals.
The study, conducted by The Economic Innovation Network and the Institute for Information Technology Policy, finds that Boston is the worst city for tech employees, with the second-worst job growth rate in the country.
The report also found that San Francisco is the second worst place for tech firms, followed by Austin, Texas, and Charlotte, North Carolina.
San Francisco is a magnet for talent because of its proximity to Silicon Valley and its large tech community, but the report found that the city is still struggling to attract new tech workers and has lost the tech jobs that have made it the most desirable place to work in the US.
In the city’s financial district, which encompasses the Financial District, the number of tech jobs has dropped from 9,400 in 2007 to 4,500 today, the report said.
In its report, the EIN and IITP say that Boston has the third-worst labor market for tech, after New York City and San Francisco.
Boston also has one of the highest jobless rates in the nation.
The city is also one of only five in the Northeast to have a tech industry with no full-time tech employees.
The report also said that Boston’s tech workers, both full- and part-time, are disproportionately women, with only 10 percent of the city job market made up of women.
The EIN report notes that tech workers are also disproportionately young, with a median age of 25 years old.
The most expensive cities in terms of median household income are Atlanta ($62,000), Los Angeles ($58,000) and Washington, D.C. ($54,000).
The study notes that Boston ranks first in the cost of living index, and second in the price of housing.
The study said that the median price of a single-family home in Boston is $5,700, up $6,300 from 2015.
The city is home to the world’s largest startup incubator, Boston Tech, which hosts more than 250 startups.
The EIN study also said the median income of tech workers in Boston in 2018 was $52,700.
The median household wealth of tech employees in Boston was $2.3 million, which is $9,400 higher than the median household assets of all Boston workers, the study found.
The IITp said the report is the largest and most comprehensive study to date of tech-related job costs.
The company will be presenting the report to policymakers and other interested parties in the coming weeks, the company said.
The Associated Press contributed to this report.