Austin is among the US cities with the most robust coworking markets, according to a quarterly report by CoworkingCafe. The cite used its most recent proprietary data from June to break down coworking space stock availability in the 25 largest markets, as well as their size and distribution.
The report also compared the most recent numbers to those registered in the first quarter of 2023 to determine the evolution of coworking throughout the nation.
In Q2, Austin ranked 23rd for the number of coworking spaces, with a total of 71 flexible workspaces – the market kept the same number of coworking spaces compared to Q1, however, it dropped one position from the previous quarter.
The market took the 21st spot in terms of the total square footage covered by coworking spaces – with over 1.6 million sqft. – a 2% growth in this area.
When looking at the square footage per market, Austin ranks 9th with an average of 23,183 sqft. – an increase of 2% compared to Q1.
Looking at the coworking subscriptions in the Austin market, virtual office median prices increased to $150 from $48 in Q1. In the meantime, open workspaces decreased to $200 from $225 in Q1, and dedicated desks to $400 from $415 in Q1.
As of June 2023, the national coworking space stock reached a total location count of 6,163. This was a 10% increase in the span of a quarter, given that the national inventory stood at 5,612 in March.
