As more workers gain the freedom to work from wherever they’d like, the number of coworking spaces across the country continues to rise, with a new report showing that the number of such working spaces in the United States has now surpassed 5,600.
CoworkingCafe reported that the number of coworking spaces in the United States hit 5,612 as of March of this year. And these spaces are no longer confined to urban cores. Coworking spaces are now opening in busy suburban areas, too.
According to CoworkingCafe, coworking space stock added up to more than 113 million square feet across the country as of March. That’s good for 1.67% of the total office space in the United States.
Compare that to 2010: Back then, JLL reported about 12 million square feet of coworking space across the nation. That equals a tenfold growth of this sector during the last 12 years.
Much of this coworking space, of course, is clustered in Manhattan, Los Angeles, Washington, D.C. and Boston. But cities in the Midwest and Texas are seeing a rise in coworking spaces, too.
CoworkingCafe reported that the Minneapolis-St. Paul market had 74 coworking spaces as of March for 1.39 million square feet, while Kansas City’s 52 coworking spaces took up 1.37 million square feet. Nashville was home to 68 coworking space for 1.42 million square feet.
Chicago, of course, had the greatest number of coworking spaces in the Midwest, with CoworkingCafe reporting 235 spaces for 6.24 million square feet.
Coworking spaces are common in Texas, too. CoworkingCafe reported that the Dallas-Fort Worth market had 225 coworking spaces for 4.34 million square feet, while Houston had 180 for 3.67 million square feet. Austin’s 71 coworking spaces covered 1.62 million square feet.
How much do these coworking spaces cost? CoworkingCafe reported that the national median rate for open workspaces stood at $134 a month as of March, while dedicated desks went for a median rate of $326 a month.