State of the Valley
Upon review of data and survey results from Santa Clara and San Mateo counties, it is clear that residents are leaving the valley because of the high cost of living and housing costs, with Latinx, Black, women, renters, low-income, and respondents under age 35 being most concerned about financial insecurity. The youth population is decreasing, where residents under the age of 18 decreased 3.3% between 2018-19 while the age group between 18-14 decreased by 1%. Further, the rate at which students graduate high school is declining in the area, though more students are eligible for direct access to a UC or CSU campus.
- Survey of Silicon Valley
- Silicon Valley Index
- Job Projections:
- Residents are leaving the valley because of the high cost of living and housing costs.
- 56% of survey respondents reported they are likely to leave the region in “the next few years.” This is up nine percentage points from last year.
- The overall cost of living (84%) and high housing costs (77%) are the main reasons reported for wanting to move.
- 76% of survey respondents indicated the cost of housing as the most serious problem in the Bay Area, followed by the cost of living, homelessness and the increasing frequency of wildfires and drought.
- 72% of survey respondents think the Silicon Valley as a “good” or “excellent” place to pursue a career, but the rates are far lower for Black respondents at 60%.
- Financial insecurity is a serious concern in the valley, with Latinx, Black, women,
renters, low-income, and respondents under age 35 being most concerned.
- 40% of survey respondents report feeling financially insecure with higher percentages reported for Latinx, Black and women (44%) respondents.
- Feelings of housing and food insecurity are greatest for renters (51%) with 20% of renters in the Valley reporting they suffered a pay cut due to reduced hours or demand and 15% of renters reported they were laid off or permanently lost a job.
- 24% of respondents reporting their income to be less than $50,000 a year had to take a cut in pay, 20% were furloughed or temporarily laid off and 23% said they were laid off permanently or lost a job. This group is also the most likely to be worried about rent, mortgage, groceries, or food.
- 46% of respondents under the age of 35 were worried about paying for food and housing.
- The youth population is decreasing.
- Residents under the age of 18 decreased 3.3% between 2018-19 while 18-14 decreased by 1% and 25-44 remained stable.
- The valley is largely comprised of residents who identify as Asian, white and Latinx.
- In 2019, the counties were comprised of 35% Asian, 33% white, 25% Latino/a/x, 5% multiple races and 2% African American/Black.
- There is a large divide between science and engineering degrees conferred at universities
in the valley with far fewer women conferring a STEM degree than men.
- In 2019, 38% of awards were conferred to women and 62% conferred to men, a trend that has held over the past ten years prior.
- Spanish is largely spoken at home followed by Chinese.
- In 2019, 34% of county residents spoke Spanish at home while 18% spoke Chinese, 12% spoke an Indo-European language, 10% Vietnamese, 8% other Asian and Pacific Islander language, 8% Tagalog, 2% a Slavic Language and 2% Korean.
- Job growth has been declining.
- In 2019-20 within the county, job growth decreased by 9%.
- Community infrastructure and services is the highest area of employment.
- 50% of all jobs in the Valley are in the area of community infrastructure and services followed by 27% in innovation and information products and services, 16% in business infrastructure and services, 4% in other areas, and 4% in other manufacturing fields.
- The average annual earning within the valley are $152,185 per year.
- This rate is slightly higher than San Francisco ($149,759), above the Bay Area ($126,808) and above the state ($86,437) and nation ($71,671). Average wages in the Valley have grown the greatest with year over year growth since 2009.
- Poverty in the valley affects 6% of the population.
- The rate is lower than the rest of the Bay Area, state and nation, but still results in 6% of the population living in poverty.
- The poverty rate has decreased from 10% in 2012. While 6% of resident live below the poverty line, another 24% live above the poverty line but below the standard of living within the valley, for a combined 30% of the population not making enough money to meet household self-sufficiency standards.
- Food insecurity is a hardship for 21% of the population.
- In 2021, 21% of the population reported food insecurity, up from 15% the prior year with 33% of children receiving free or reduced-price lunch.
- The rate of high school graduates is declining with more students eligible for UC
- High school graduation rates declined slightly in 2020 from prior years to 83% while the rate of students who are UC and CSU eligible upon graduation increased to 63%, above that of the state where 50% of students are eligible for direct entry into the public university system in the state.
- UC/CSU eligibility rates vary by ethnicity.
- While UC/CSU eligibility rates have increased in the valley, they vary by ethnicity with the Valley failing to adequately prepare African American/Black, Latino/a/x and Pacific Islander students at the highest rates with only around 41% of these students groups meeting eligibility. In contrast, 84% of Asian and 70% of white students were eligible upon graduation.
- Almost all residents report access to computers and internet but low income families
are most affected by lack of access to both.
- 96% of households in the Valley report having access to a computer and 93% with internet, while these rates are above the state average, the rate at which low-income households are disproportionately within internet and computer access is troublesome with 24% of low-income families lacking internet access at home.
- The greatest growth in job openings in the valley with are in the health sciences.
Top 20 occupational projections by percent increase in projected openings between 2018 and 2028 requiring an associate degree, certificate or some college in the San Jose-Sunnyvale-Santa Clara Metropolitan Statistical Area.
|Occupational Title||Projected Employment Increase||Median Annual Wage|
|Occupational Therapy Assistants||33.3%||$53,883|
|Diagnostic Medical Sonographers||25%||$102,564|
|Physical Therapist Assistants||20%||$75,730|
|Health Technologists and Technicians, All Other||19.8%||not available|
|Agricultural and Food Science Technicians||19.3%||not available|
|Web Developers||19.1%||not available|
|Life, Physical and Social Science Technicians, All Other||16.7%||$66,394|
|Paralegals and Legal Assistants||16.6%||$88,161|
|Preschool Teachers, Except Special Education||16.3%||$39,142|
|Medical Records and Health Information Technicians||15.2%||not available|
|Nursing Assistants||14.9%||not available|
|Healthcare Practitioners and Technical Workers, All Other||14.8%||not available|
|Heating, Air Conditioning, and Refrigeration Mechanics and Installers||14.7%||$70,279|
|Computer Numerically Controlled Machine Tool Programmers, Metal and Plastic||14.6%||not available|
|Cardiovascular Technologists and Technicians||14.3%||$70,756|
|Magnetic Resonance Imaging Technologists||14.3%||$98,539|
- The greatest growth in job openings in the valley with a bachelor's degree are varied and include design, software, research, sciences and medical fields.
Top 20 occupational projections by percent increase in projected openings between 2018 and 2028 requiring a bachelor's degree in the San Jose-Sunnyvale-Santa Clara Metropolitan Statistical Area.
|Occupational Title||Projected Employment Increase||Median Annual Wage|
|Film and Video Editors||37.9%||not available|
|Information Security Anaysts||33.6%||not available|
|Operations Research Analysts||33.1%||$96,833|
|Proofreaders and Copy Makers||30.0%||not available|
|Software Developers, Applications||25.2%||not available|
|Market Research Analysts and Marketing Specialists||23.5%||$97,883|
|Substance Abuse, Behavorial Disorder, and Mental Health Counselors||22.0%||$54,780|
|Medical and Health Services Managers||18.7%||$129,964|
|Social Science Research Assistants||17.6%||$51,215|
|Biological Scientists, All Other||17.1%||$107,548|
|Social Scientists and Related Workers||16.7%||$86,895|
|Education Administrators, Preschool and Childcare Center/Program||16.0%||$51,629|
|Coaches and Scouts||15.2%||$40,889|
|Financial Specialists, All Other||14.4%||no available|
|Training and Development Specialists||14.3%||$88,058|