For the first half of 2026, the U.S. coworking sector continued expanding, though growth increasingly shifted toward smaller markets and more compact spaces, according to Coworking Cafe. National coworking inventory grew 2.7% to 9,384 locations, while total square footage rose a more modest 1.5% to 166.4 million square feet, pushing average space size down to 17,728 square feet.
Smaller Markets Fuel Growth
The gap between location growth and square footage highlights a changing expansion strategy. Rather than opening large flagship hubs, operators are increasingly launching smaller coworking spaces in secondary and tertiary markets where demand continues to rise.
These markets posted some of the strongest gains. Indianapolis led major metros with a 14% increase in locations, surpassing 100 coworking spaces. Philadelphia, Phoenix, Seattle, San Francisco, Salt Lake City, Portland and Sacramento also expanded their coworking footprints.
Meanwhile, coworking now accounts for 2.3% of the U.S. office inventory, up slightly from last quarter.
Chicago Climbs the Rankings
Los Angeles remained the country’s largest coworking market by number of locations with 349 spaces despite a slight decline. Chicago added 10 locations to reach 346, overtaking Dallas-Fort Worth for second place.
By square footage, Manhattan retained its lead with 12.6 million square feet of coworking space, followed by Chicago and Los Angeles. However, several major markets—including Manhattan, Los Angeles, Washington, D.C., Houston, the Bay Area and Nashville—recorded modest contractions in total flex office space.
Prices Stay Mostly Stable
National pricing remained largely unchanged during the quarter.
Median monthly memberships dipped by $1 to $219, while day passes increased slightly to $34. Meeting room rates held steady at $45 per hour, and virtual office pricing remained stable overall despite larger swings in individual markets.
Manhattan continued to command the highest membership prices at $339 per month, while Columbus and St. Louis remained among the most affordable.
Large Operators Expand, Independents Still Dominate
Regus remained the nation’s largest coworking operator, growing to 1,285 U.S. locations. HQ and Industrious also expanded, primarily targeting established urban markets.
Despite continued growth from major brands, independent and regional operators still control roughly 77% of all coworking locations nationwide, underscoring the sector’s fragmented nature and the growing role of local providers in meeting demand outside the largest cities.
