Coworking Costs Continue To Fall As Supply Rises

Bisnow has reported that the cost of coworking memberships is dropping due to a spike in supply. In fact, according to a report by Instant Group, average desk prices fell by 5% across the 18 largest cities in the coworking market last year.

Chicago in particular stood out as prices fell by 17%, followed by a 12 and 11% drop in San Francisco and Los Angeles. On the other hand, prices only shrunk by 4% in New York.

Despite the dip in desk costs, coworking companies are still growing, with New York’s coworking supply experiencing a 21% spike and L.A. expanded its footprint to over 2 million square feet last year thanks to large WeWork leases.