As everyone is striving to cut costs, deciding where you work can make a huge impact on the budget. Coworking spaces are traditionally more affordable than maintaining a full office, but whereโs the least expensive area for coworking? A recent study published by Coworking Cafe reveals the dramatic differences between cities.ย
Boise, Idaho, is the most budget-friendly coworking city. The data reveals open workspaces in Boise are only $93 per month. This is followed closely by Wichita, Kan., where the median monthly rate is priced at $97 per month. The most affordable metro areas, in-terms of median monthly subscriptions for open workspaces, were:ย ย
- Boise, Idaho – $93.00ย
- Wichita, Kan. – $97.00ย
- Greenville, S.C. – $110.00ย
- Philadelphia, Penn. – $119.00ย
- Phoenix, Ariz. – $119.00ย ย
Itโs worth noting, however, that 28 other metro areas in the study had a median monthly price of $119. Those that had the highest number of coworking spaces were found to be Philadelphia, Phoenix, and Portland.ย ย
In comparison, the most expensive metro areas for open coworking spaces were:ย
- Albany, N.Y. – $250.00ย ย
- Santa Maria, Calif. – $250.00ย ย
- New York City, N.Y. – $239.00ย
- Washington D.C. – $200.00ย
- Colorado Springs, Colo. – $200.00ย
The study also found that virtual offices are the most affordable type of coworking subscription, with a median rate of $119 per month. The most expensive metro area for virtual offices is Trenton, N.J., where the median rate is $215 per month. The most affordable metro area for virtual offices is Rochester, N.Y., where the median rate is only $50 per month. Deltona, Fla., and St. Louis follow closely behind, priced at $60 and $62, respectively.ย ย
Santa Maria, Calif., takes the crown for the priciest dedicated desks โ with a median monthly subscription fee priced at $500. Meanwhile, San Francisco, the heart of Silicon Valley, isn’t far behind โ demanding $429 for a dedicated desk.ย ย
The most affordable options for dedicated desks were:ย ย
- 1.Indianapolis – $209.00 ย
- 2.Ann Arbor, Mich.- $219.00ย
- 3.Hartford, Conn.- $245.00 ย
- 4.Tulsa, Okla.- $249.00 ย
- 5.Alburquerque, N.M. – $249.00ย
Coworking Cafeโs report offers a more detailed comparison of individual metro areas and how their subscription prices compare by state. For example, in Virginia, the median price for virtual offices in Richmond is $70 โ cheaper, when compared to $159 in Virginia Beach. However, the median price for dedicated desk space in Virginia Beach is $265, while Richmond is $299. These subtleties in price differences further unveil that there are more factors at play than just location.ย
