Coworking Space Prices
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.
Average coworking fees
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.
New York City
WeWork is one of the largest coworking space chains, and their presence in NYC is very strong. Out of the 52 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 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, dedicated desk option costs $636 per month, and hot desk option costs $453 per month. Choose your coworking space while taking the location into account is essential in a city like NYC.
In Seattle, WeWork offers Hot Desk option that averages $338 per month, the price difference is not significant at all: the highest being $360 while the lowest $300.
Other coworking space providers we researched include officenomads, Industrious, Impact Hub, etc. We took their price offerings and calculated the average: $368 per month. You can see that the coworking prices in Seattle is quite flat and no steep differences exist. Also it is obvious that WeWork’s average price is slightly lower than the city’s average price, that is also something you can consider when you make your decision.
Out of the top coworking spaces in Seattle, the price varies. For instance, Level Office offers dedicated desk at $199 per month, Industrious on the other hand charges $450 per month. 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!
L.A. is another hot city for coworking and startups. The average price of Hot Desk option offered by WeWork is $392 per month. The most expensive space is located right at Hollywood with monthly price of $450 per month, while the cheapest price is $350 per month for several spaces. If you want to choose WeWork and not ready to pay for the highest price, you can opt for the other ones than the space located at the heart of Hollywood.
Other choices apart from WeWork include Industrious, Hub, BlankSpaces etc. The average is $295 per month. The coworking spaces have a great variety when it comes to price choices: BlankSpaces offers table option for $200 per month, while CTRL Collective charges $345 per month for a desk.
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. Location also plays a role: Industrious spaces is located right at downtown LA hence the high price of $378 per month, Rita House is less central and charges $250 per month.
WeWork has 3 spaces in Amsterdam, Hot Desk option averages €180/month and Dedicated Desk option has price range of €330-€380/month.
Other spaces we looked into include BounceSpace, The Thinking Hut, Spaces Works, etc. The average price for a hot desk is €232/month. Main difference is the amenities such as personal consultancy time, community lunches, 24/7 access etc. You can see that for hot desk, WeWork has a lower than average price, that is something to be taken into consideration if price is important for your company!
WeWork has 5 spaces in Sydney. Hot Desk option averages A$550/month. Dedicated Desk average is A$797/month. For other space options, we included yourdesk, Commune, fishburners, etc. Dedicated Desk average is A$607/month.
In this case WeWork seems to have higher average price than other coworking spaces, it might have be the WeWork space is at a prime location: right at the corner of CBD. the difference in prices have to do with the amenities as well: whether it is 24/7 address, permanent mail address, showers and lockers, etc.
Finding the right space
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!