Residential location choice of knowledge-workers in a "startup metropolis": the role of amenities, workplace and lifestyle

Knowledge cities (KC) and knowledge-based urban development (KBUD) are rapidly gaining momentum due their potential for inducing economic growth and regional competitiveness. The current study focuses on investigating the location preferences of knowledge-workers at the intra-metropolitan level, as an essential building block in the formulation of successful KBUD policies. Specifically, this study applies multinomial and nested logit models to investigate the impact of location amenities, accessibility, housing preferences and leisure-activity pattern on knowledge-workers’ residential location choice. The models are applied to 833 actual housing choices collected by means of a web-based survey. Survey respondents consist of knowledge-workers in high-technology and financial business services, who work and reside in Tel-Aviv metropolitan region, also known as the ‘the startup metropolis’. The results reveal that knowledge-workers (i) prefer dense urban environments and large cities, (ii) reside in well-established knowledge communities (iii) seek abundance cultural and education opportunities, (iv) seek affordable housing, (v) reside in locations that are compatible with their housing preferences, workplace location and leisure activity pattern.