Silicon Slopes CEO Clint Betts said Utah isn't quite as expensive as other tech hubs and hopes the state avoids Silicon Valley's housing pitfall.
The heart of Utah’s tech community is still far from the astronomical housing prices in Silicon Valley, but affordability is getting worse.
Despite their nearly identical names, Clint Betts doesn’t want Silicon Slopes to become Silicon Valley in one way: housing costs. Utah may not be quite as expensive as California’s tech hubs, but home and rental prices are inching closer.found that only 15% of Utah’s renters could afford a home between $300,000 to $400,000. The report also found that housing prices in Utah increased by 72% since the beginning of 2018.. The heart of Silicon Valley is one of the most competitive markets in the country — with most homes selling within 10 days.that the median home price in Lehi is $534,000.
Plus, “there may not be a lot of recruiting happening right now,” Betts said. “You’re probably seeing more cost-cutting and trying to become profitable.”that some data shows that Utah’s tech job market is stagnant right now. Landing a job, let alone a significant pay raise, is getting harder, tech workers told The Tribune.
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