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Home News Coworking

Miami’s 143% Increase In Flexible Office Demand Indicates A New Migration Trend

Historically, cities like New York City, and San Francisco have served as business hubs, but this new migration has allowed regions like Houston and Miami to shine.

Aayat AlibyAayat Ali
April 14, 2022
in Coworking
Reading Time: 2 mins read
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Miami Increase In Flexible Office Demand Indicates A New Migration Trend
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The Instant Group has detailed the findings of its U.S. Market Summary analysis, revealing which regions are leading the pack in flexible office demand. 

According to the data, Miami saw a 143% increase in flexible office demand, while San Francisco saw the largest decline by 24%. 

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“As hybrid work cultures take shape and people are empowered to choose where they live and where they work, we see a real increase in demand in ‘lifestyle’ cities and away from California which has struggled with high taxes, high cost of living, and high office costs,” said Joe Brady, CEO Americas at The Instant Group.  

Historically, cities like Chicago, New York City, and San Francisco have served as the country’s largest business hubs, but this new migration has allowed regions like Houston, Miami, and Tampa to shine. 

Part of this migration pattern has been companies moving from California to Texas, which is supported by the fact that flexible office demand grew by 26% in Austin, 32% in Dallas, and 66% in Houston. 

Houston in particular has quickly become the core of innovation for many technology companies, with the city seeing flexible office demand grow 167% from this industry. 

Other secondary cities that have seen a spike in demand include Denver with 21%, Nashville with 2%, and Phoenix with 71%. 

Among operators offering flexible offices, Industrious saw the largest growth share, making up 15% of all new locations during early 2021. Still, the analysis indicates that supply is becoming increasingly diverse, with 66% of new locations emerging from beyond the top four big operators. 

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Source: PR Newswire
Tags: CoworkingCRE
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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