When it comes to the average price of coworking spaces, Greater Hartford is among the cheapest markets in the country according to a recent study of the industry.
CoworkingCafe, a commercial property listing website owned by Yardi, released the results of its 2023 coworking market study this week, highlighting the country’s metro areas that offer open workspaces, virtual offices and dedicated desks, three type of remote coworking options that have grown in popularity since the COVID-19 pandemic
In an open workspace, coworkers share flexible space, with unassigned and sometimes shared desks. Unlike open workspaces, a dedicated desk coworking model provides a personalized, permanent workspace reserved for an individual or team. A virtual office is often the cheapest of the three options, offering a business address, phone or fax number, mail and package handling services and occasional access to amenities without a full-time dedicated office space.
The CoworkingCafe study analyzed the median monthly subscription prices for the most common coworking memberships in the country’s largest metro areas, including several in Connecticut.
Greater Hartford and Greater Bridgeport ranked as the most affordable metro areas for open workspaces, tied with several other regions in the country at $93 per month. Comparatively, the Inland Empire and Albany,
New York metro areas have the highest prices in this category with a median cost of $250 per month.
For virtual offices, the median cost of a subscription in Greater Bridgeport is $99 per month. Virtual office data for Greater Hartford was not available. Meantime, Nashville, Tennessee ranks as the most expensive metro area in this category at $215 per month.
For dedicated desks, Greater Bridgeport ranks closer to the more expensive side at $377 per month compared to Greater Hartford’s $231 per month, which is among the cheapest in the country.
While virtual office price data was also not available for New Haven, that metro area touts higher median prices for both open workspaces and dedicated desks than their Connecticut counterparts: $200 per month and $399 per month, respectively.
