US Coworking Industry: Benchmarks and Pricing [2025]
May 2, 2025
Blog
The coworking industry in the United States is booming. Both the number of spaces and the demand for them are at an all-time high.
That’s great news for coworking space owners and operators across the country, especially those who’ve been in the game since before “coworking” was even a thing.
If you’re just getting started and wondering how to price your offerings, this guide is for you. We’ll walk you through pricing benchmarks and strategies for coworking spaces across the U.S so you can make informed decisions when operating your business.
Table of Contents
- How big is the coworking market in the US?
- How much is the US coworking market worth in 2025?
- What is driving the growth of coworking in the US?
- What are the largest cities in the US for coworking?
- What is the average cost of renting a desk in a coworking space in the US?
- The cost of coworking in major US cities
- What are the most affordable cities in the US for coworking?
- What’s next for the US coworking market?
How big is the coworking market in the US?
In 2019, the US had around 6,200 coworking spaces. Now, the U.S. is the largest coworking market in the world with approximately 7,695 coworking spaces nationwide as of Q4 2024. This represents a growth of roughly 24% in five years.
Last year alone, the US coworking inventory grew by 6-7% with the current inventory of office space dedicated to flex work now exceeding 127 million sq. ft. This is astronomical growth for such a young industry like coworking.
How much is the US coworking market worth in 2025?
One estimate puts the North American coworking market valued at $5.67 billion in 2025 with an annual growth of 11%, with much of this being attributed to the US. By 2030, the coworking market could be valued as high as $9.56 billion.
What is driving the growth of coworking in the US?
The coworking industry in the US is growing at an alarming rate for four key reasons: the rise of remote work, corporate downsizing, the conversion of traditional office space, and the expansion of entrepreneurship and solopreneurship.
Rise of remote work
Remote workers are flocking to coworking spaces in search of community and networking opportunities that are lacking from working from home. According to the New York Times, roughly 15% of coworkers are now remote workers—and this number is growing.
Corporate downsizing
Many companies and organizations are moving away from large HQs and bringing their teams into coworking spaces to save cost. In fact, roughly 69% of organizations plan to reduce traditional office footprints and shift toward flexible options going forward.
Conversion of traditional office space
With the average vacancy rate of offices still sitting around 20% in the US, many landlords are looking at converting their traditional office space into flex space to increase occupancy and revenue. This leads to more coworking spaces in the market.
Entrepreneurship and solopreneurship
The rise of solopreneurship and entrepreneurship in the last decade has seen more individuals and small businesses operating out of flex spaces (and more niche coworking spaces popping up to fill this need!).
What are the largest cities in the US for coworking?
The most popular cities for coworking in the US (by number of spaces) according to Coworking Cafe is:
- Los Angeles (292)
- Dallas-Fort Worth (286)
- Washington, DC (277)
- New York City (Manhattan) (273)
Traditionally, coworking has been most popular in major cities like New York City. While this still holds true, suburban markets are growing quickly. Nashville’s coworking supply jumped 24% in one quarter of 2024 as new spaces opened to meet local demand.
The strong showing from Dallas–Fort Worth also reflects a broader trend: the growth of business hubs outside of traditional coastal markets. The Sunbelt region (spanning the southern U.S.) has become increasingly attractive to remote workers, startups, and small businesses due to its:
- Lower cost of living and business operations
- Favorable climate and quality of life
- Tech and entrepreneurial growth
Hence, we’re seeing more coworking spaces in this area.
What is the average cost of renting a desk in a coworking space in the US?
The average cost of renting a hot desk in the US is $150 per month. The average cost of renting a dedicated desk is $300 per month. However, it’s worth pointing out that the cost of desk rentals vary widely across the US, with major cities like New York and San Francisco commanding premium prices, while smaller markets are more affordable.
The cost of coworking in major US cities
So how much does it cost to purchase or rent coworking products in different US cities? Below, we’ll map out the average cost of coworking in four major US cities: New York City, San Francisco, Chicago, and Austin, according to research from Deskpass.
New York City (Manhattan)
New York is one of the most expensive coworking markets in the world due to the high cost of commercial real estate. Expect to pay up to $600 for a hot desk monthly membership plan in Manhattan.
- Hot desk: $400–$600 per month
- Dedicated desk: $700–$1,200 per month
- Private offices: $2,000+ per month
San Francisco
San Francisco’s pricing is comparable to New York’s due to its tech hub status and expensive office market. San Francisco also has the highest cost per square footage of commercial real estate in the country at $61 per square foot.
- Hot desk: $350-550 per month
- Dedicated desk: $600–$1,100 per month
- Private offices: $1,500 per month
Chicago
Chicago offers big-city amenities at lower cost than New York and San Francisco, positioning it as a mid-tier price point among major metros. It’s no wonder then why Chicago is a major hub for coworking.
- Hot desk: $250–$400 per month
- Dedicated desk: $400–$800 per month
- Private offices: $1,000–$1,500 per month
Austin
Austin’s coworking scene is booming (mirroring its tech growth) but remains a bit more affordable than other cities. As the cost of living in Austin rises, this is likely to evolve.
- Hot desk: $200–$350 per month
- Dedicated desk: $350–$700 per month
- Private offices: $800–$1,200 per month
What are the most affordable cities in the US for coworking?
Smaller cities in more rural areas like Kansas City tend to be most affordable. Here, hot desks can be found as low as $150–$300, dedicated desks are priced at $250–$500, and you can find a private office somewhere between $500–$900 according to research from Deskpass.
US coworking market prices: key takeaways
- When it comes to the cost of coworking, New York City (Manhattan) reigns supreme, particularly in the private office category. Private offices are 33% higher than the next expensive city of San Francisco.
- Hot desk pricing is relatively tight (range of $225 between cities) while private offices show the widest gap (range of $1,000).
- As workspace requirements become more private and premium, city-based pricing gaps become much more significant.
- Operators in lower-cost cities could position their offerings as premium value-for-money alternatives to high-priced markets like New York and San Francisco.
What’s next for the US coworking market?
Coworking is growing in the US, and there’s no sign of things slowing down. With how coworking is trending in 2025 anticipate more demand, spaces, and more unique places for people to gather.
Are you operating a coworking space in the US? We’d love to chat! See how Optix can help you run a successful coworking business.
Running a coworking or flex space in the US? Let's talk.
