Thriving In Smaller Markets
As the trend of coworking grows, more and more startups and businesses are interested in moving in to coworking spaces. There are a number of great benefits that coworking spaces bring: flexible membership, lower price than traditional office, a supportive community, a hard-working vibe, to name just a few. If your company is curious about coworking spaces, you might wonder how the price options look like. We have done some research for you for major U.S., European and Australian cities regarding the coworking prices.
While coworking costs vary from city to city and business to business, you can expect to pay comparatively low fees for a space that's dedicated to you. Keep in mind that spaces will always vary in cost, but that should be in tandem with the amenities they offer. Some coworking spaces will offer amenities like restaurants, courtyards and even showers, while some will simply offer desk space. Do your research and make sure you're getting a fair amount of amenities for your money.
According to DeskMag, the average monthly price for a dedicated desk in the U.S. is $387 and the average monthly cost for a hot desk is $195. Around the globe, these prices remain pretty much constant, although they fluxuate across continents.
The coworking industry is exploding in New York City, with a new space opening every 7.5 days. Because of this, you will find nearly every type of coworking space at a wide range of prices. Manhattan is one of the most popular spaces to build a coworking space, with 245 coworking spaces. While some just cover the basic coworking space needs, others distinguish themselves based on the high-end amenities they offer, convenient locations, or other services. Choose your coworking space while taking the location into account is essential in a city like NYC, as it affects not only your commute but also the price.
WeWork is one of the largest coworking space chains, and their presence in NYC is very strong. Out of the 60 spaces in NYC, the prices vary depending mainly on the location. For example, the hot desk option is $300 per month for a space in Brooklyn, but on Fifth Avenue, it charges $450 per month.
The WeWork prices for a dedicated desk option at Dumbo Heights in Brooklyn totals $450 per month, while at the Empire State Coworking Space it costs $650 per month, on Lexington Avenue, it increases to $700 per month. On average, however, a dedicated desk option costs $636 per month, and hot desk option costs $453 per month.
The Farm markets itself towards people working within the healthcare technology sector. The space is pet-friendly, gives you $5,000 in AWS credits when you join as a member, as well as 24/7 secure access. A hot desk at their location is $199 a month, or $349 for a dedicated desk.
This coworking space offers premium services at a premium cost. When you join as a member, you get access to furnished workshops, lockable storage, gym access, a content studio, library lounges, and more. To work in the lounge - Camp David’s version of a hot desk - it costs $300 a month and $650 for an assigned desk.
As a growing leader in tech industries, the number of startups and remote gigs are blossoming in Seattle, which leads more people to turn to coworking spaces around the city. In general, coworking prices in Seattle are quite flat, and no steep differences exist, with WeWork’s average price slightly lower than the city’s average prices. The difference lies in the amenities: for the pricier coworking spaces, extra features such as on-site security, free garage parking, and even designated ethernet are provided. If you are looking for a lower price, you might want to consider a coworking space with the bare essential functions!
WeWork has fifteen coworking spaces in Seattle, with the prices varying a bit depending on the location. The company offers a hot desk option that averages $338 per month; the price difference is not significant at all with the highest being $360 while the lowest is at $300.
This space is a bit more costly than other options, but it does focus on bringing together independent and remote workers while building a strong culture. Some of the amenities include fast internet, free coffee and teas, meeting rooms, and more. The company also has a variety of work stages, including regular desks, standing desks, couches, and long tables. You can purchase a day pass for $30, or pick a plan depending on how often you want to come. For five days a month, it will cost you $100, and for 15 days a month, you will have to pay $240. For a dedicated cost, the price starts at $395, which includes lockable storage and mailbox.
This coworking space caters more to freelance digital creatives and has endeared to create an active community. All members get access to a conference room, bike rack, phone room, lounges, bar, backdrop studio, and screening room. For $250 a month, you can get a hot desk option, and for $395, you get a dedicated desk.
L.A. is another hot city for coworking and startups. Coworking space prices varying depending on which neighborhood and amenities you want access to. The coworking spaces prices tend to be a bit higher than in other U.S. cities. However, there are many different niche coworking spaces throughout the city, including pet-friendly, female-focused, and artist-focused.
At the 29 L.A. locations, the average price of the hot desk option is $392 per month. The most expensive space is located right at Hollywood with a price of $450 per month, while the cheapest price is $350 per month for several spaces.
The price discrepancies are mainly due to the difference in access time and amenities: the higher-priced space includes 24/7 access, while the cheaper one only offers office hours access. The location also plays a role: Industrious has six locations throughout the most popular neighborhoods in Los Angeles. Memberships for the community membership - or hot desk option - start at $428 but can be as expensive as $567 a month. For a private office, the prices range from $689 to $1,242 a month.
With some of the highest numbers of independent workers in the E.U., coworking spaces have become a haven for many in Amsterdam. For a hot desk, WeWork prices average out to be lower than many other coworking spaces in the city.
WeWork has four spaces in Amsterdam, located throughout the city. The pricing is fairly consistent, with the average of the hot desk membership at €195/month and the dedicated desk option with a price range of €350-€360/month.
The average price for a hot desk at these three locations is €232/month. The main difference is the amenities such as personal consultancy time, community lunches, 24/7 access, and more.
Coworking spaces are flourishing in the land down under. Coworking spaces have grown more than 60% year over year, and that trend doesn’t seem to be slowing down. It is especially popular in Sydney, but it does tend to be more expensive than in other countries and locations.
WeWork has nine spaces in Sydney. The hot desk option averages A$550/month, and the dedicated desk average is A$797/month. In this case, WeWork seems to have a higher average price than other coworking spaces. The difference in prices has to do with the amenities as well: whether it is 24/7 access, permanent mail address, showers, and lockers, etc.
Fishburners is a nonprofit coworking space that attracts some of the best startups in the Sydney area. The coworking space aims to create a large community to give its members access to mentors, investors, media contacts, potential customers, and more. You can join for $300 a month part-time, or $400 a month per person.
As you can see from our initial research on coworking space prices in the major cities, WeWork has a strong presence in many of them, and it is usually setting the lower end of the price scale compared to other coworking space providers. Things that make the prices differ include locations, amenities, access times among other facility differences.
If you are looking for an ideal coworking space in cities that are not listed here, you can check out our website to find out more coworking spaces all over US and around the globe!
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