According to Instant Group’s research, San Francisco is the fourth most expensive city in the U.S., just after Boston, Los Angeles, and Seattle. It is also a major hub for the flexible workspace market.
James Rankin, head of research at Instant Group, said that San Francisco has seen a 17% year-over-year increase
“The profile of the clients looking for space has also changed from the smaller start-up firms to fast-growing ‘scale-up’ businesses and multi-national corporate clients,” said Rankin. “These clients are looking into flexible space prominently in more mature markets such as San Francisco.”
Along with the industry finding a wider variety of clients, San Francisco has experienced a 13% increase in coworking centers, flexible, and hybrid offices. The South of Market district has the largest amount of coworking spaces, while the Financial District has the most expensive with a cost-per-desk monthly average of $1,500.