Tech economy fuels renaissance of once-blighted US cities

In cities across America, a sizzling tech sector is fueling an urban renaissance.

As the digital revolution broadens and deepens, tech has emerged as a mighty force creating jobs, spurring redevelopment of once-blighted urban cores, and giving cities an economic and cultural jolt.

But the boom comes at a price. For lower-income people and the squeezed middle class, soaring rents and home prices are pushing some cities out of reach, turning them into playgrounds for the privileged.

Rents in the top 10 largest U.S. metropolitan areas, where Internet and computer occupations play the biggest role in the local economy, rose 8% in the year ended June 2014, almost 40% faster than the gain in other metro areas, according to Trulia, a Web-based real estate company.

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