In an effort to escape exorbitant housing prices in New York, Silicon Valley, and Washington, D.C., executives and companies alike have fled to smaller, up-and-coming tech job centers like Richmond, V.A., Eugene, Ore., Huntsvile, Ala. and Manchester, N.H.
All of these small cities sport populations under 225,000, median house prices under $250,000, and burgeoning tech industry job centers. While some expatriates telecommute or travel to their city jobs, others either join the local tech market or move with their companies.
[Jeff] Hanlon traded a 550-square-foot apartment in Mountain View, Calif., that he rented for $2,400 a month for a 4,000-square-foot house in a historic neighborhood of Richmond, Va. Purchased for $710,000 last year—a pittance by Silicon Valley standards—the 1902 home has five bedrooms, a formal dining room and an eat-in kitchen, where Mr. Hanlon and his husband, Rem Jurado, hosted extended family last Christmas. “A house like this would have never been an option” in Silicon Valley, says Mr. Hanlon.