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 where’s the least expensive area for coworking? A recent study published by Coworking Cafe reveals the dramatic differences between cities.
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:
- Boise, Idaho – $93.00
- Wichita, Kan. – $97.00
- Greenville, S.C. – $110.00
- Philadelphia, Penn. – $119.00
- Phoenix, Ariz. – $119.00
It’s 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.
In comparison, the most expensive metro areas for open coworking spaces were:
- Albany, N.Y. – $250.00
- Santa Maria, Calif. – $250.00
- New York City, N.Y. – $239.00
- Washington D.C. – $200.00
- Colorado Springs, Colo. – $200.00
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.
Santa Maria, Calif., takes the crown for the priciest dedicated desks — with a median monthly subscription fee priced at $500. Meanwhile, San Francisco, the heart of Silicon Valley, isn’t far behind — demanding $429 for a dedicated desk.
The most affordable options for dedicated desks were:
- 1.Indianapolis – $209.00
- 2.Ann Arbor, Mich.- $219.00
- 3.Hartford, Conn.- $245.00
- 4.Tulsa, Okla.- $249.00
- 5.Alburquerque, N.M. – $249.00
Coworking Cafe’s 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 — 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.
