Supply of Coworking Spaces Jumps 10% for the Quarter, Yardi Reports
Originally published on July 26, 2023 by Laura Pop-Badiu for the Coworking Cafe.
Coworking — which has consistently been on the rise and significantly fueled by the increase in remote and hybrid work — continues its upward trajectory across the U.S. And, with more flexible workspaces opening their doors every day and new operators entering the market, the changes in this industry are notable, even in the span of just a few months.
So, to better understand the current state of the coworking industry in the U.S., we leveraged proprietary data from the previous quarter to break down the coworking landscape in the 25 largest markets. We also compared the most recent numbers to those registered in the first quarter of 2023 to determine the evolution of coworking throughout the nation.
National Coworking Supply Registers 10% Growth in Q2, Surpasses 6,100 Flex Workspaces as of June 2023
Perhaps the most relevant factor in the evolution of coworking is the general increase in the number of flex workspaces nationwide. To that end, 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.