With housing costs rising in major cities and remote or hybrid work becoming more common, young professionals are rethinking where they want to live and work.
According to the 2024 CBRE Scoring Tech Talent Report, Waterloo Region saw the fastest growth in young professionals in North America, with a 29.2% increase in residents in their 20s and a 20.2% increase in residents in their 30s between 2017 and 2022.
What’s attracting them to Waterloo? Let’s find out.
1. Affordable living with strong career opportunities
Waterloo offers something that major tech hubs struggle with: a lower cost of living without limiting career options.
Housing costs in larger cities continue to rise, making it harder for young professionals to afford homeownership, save for the future or maintain a good quality of life.
In contrast, the Waterloo community provides:
- Lower housing costs than Toronto, New York and Boston
- A strong job market with global companies and startups
- Shorter commutes that allow for better work-life balance
Waterloo has strong representation in AI, quantum, fintech, medtech, cybersecurity, advanced manufacturing and automotive, giving young professionals plenty of career choices.
2. A place to build something that matters
The growing number of young professionals is strengthening Waterloo’s tech and business community. A younger workforce brings fresh ideas, a focus on innovation and an entrepreneurial mindset.
CBRE’s data confirms that as more young professionals move in, new startups emerge, industry partnerships expand and Waterloo’s innovation ecosystem continues to evolve.
The region’s entrepreneurial culture and strong industry-academic ties give young professionals opportunities to:
- Work with global companies like Google, OpenText and Arctic Wolf
- Join or launch startups in a highly connected business community
- Access research, mentorship and industry networks at top institutions
Waterloo’s universities and college fuel this talent pipeline. The University of Waterloo, Wilfrid Laurier University and Conestoga College produce thousands of work-ready graduates each year.
Their research programs, co-op placements and entrepreneurial support help young professionals launch careers and businesses right here in Waterloo.
3. A connected, vibrant community
Waterloo offers young professionals a tight knit, engaged community with plenty of ways to connect.
With thriving arts, music and food scenes, there’s always something happening. Festivals like Oktoberfest and the Uptown Jazz Festival bring people together, while local breweries, cafés and shops create a lively social atmosphere.
For those who love the outdoors, 150+ km of trails, conservation areas and easy Grand River access offer space to recharge.
Beyond recreation, the Waterloo region is a place where young professionals can meet like-minded peers, collaborate on new ideas and feel part of a community – whether at networking events, tech meetups or co-working spaces like Communitech and Catalyst147.
The place to be for young professionals
With affordable living, strong job prospects and an innovation-driven economy, Waterloo continues to attract young professionals looking for a place to build their careers.
For more insights into Waterloo’s tech talent market, read: Waterloo: North America’s #1 Small Tech Talent Market Once Again.
Contact our team to learn more about hiring and expansion opportunities in Waterloo.