{"id":11807,"date":"2018-04-25T12:42:32","date_gmt":"2018-04-25T12:42:32","guid":{"rendered":"http:\/\/www.instantoffices.com\/blog\/?p=11807"},"modified":"2019-10-23T10:18:29","modified_gmt":"2019-10-23T10:18:29","slug":"us-market-summary-report","status":"publish","type":"post","link":"https:\/\/www.instantoffices.com\/blog\/instant-offices-news\/us-market-summary-report\/","title":{"rendered":"Indie Operators Own 93% of the US Flexible Workspace Market"},"content":{"rendered":"

Our 2018 report, US Market Summary \u2013 The Evolution of Workspace<\/span>, is an analysis of co-working, serviced and hybrid office growth across the United States.<\/p>\n

Despite large flexible workspace operators controlling more than a third of the US market, findings show indie operators far outweigh industry giants in the US right now – 93% of the country\u2019s operators are independent and part of a rapidly growing trend in nichification.<\/p>\n

According to Michelle Bodick, Managing Director of Sales and Marketing for Americas at The Instant Group, this differs from more mature flexible space markets like the UK, France, and Germany, where larger operators dominate.<\/p>\n

US: The World\u2019s Largest Flexible Workspace Market<\/span><\/strong><\/h2>\n

With an estimated 80 million square feet of flexible space in the US compared to around 60 million square feet in the UK, the country remains the largest market for flexible workspace in the world. 51% of the total number of flexible workspace centres are located in just five states – San Francisco, Los Angeles, New York, Houston and Dallas.<\/p>\n

The average desk rate across the US is $969, which is up from $934 the previous year.<\/p>\n

States and Cities with Highest Average Desk Costs<\/span><\/strong><\/h2>\n

The fastest-growing flexible workspace markets in the US are in New York, California and Texas.<\/p>\n

Colorado and Massachusetts are the most expensive states for flexible workspace, with average monthly desk rates of $1,250 and $1,213 respectively. Due to the distribution of additional centres across the state, New York desk costs have seen a slight decrease at $1,063.<\/p>\n

On a city level, Boston is the most expensive, with an average monthly desk rate of $1,889 and 15% growth. San Jose has seen a 14% increase in desk rate pricing, with the average now being $908 per desk.<\/p>\n

Download the Report\u00a0<\/span><\/strong><\/h2>\n

As the US continues to embrace the flexible workspace market, operators are diversifying the types of space on offer, driving the nichification trend and providing spaces that cater to very specific audiences and interests.<\/p>\n

Our US Market Summary report delves deeper into the growth of niche operators, how supply is changing across key cities, and whether 2030 may see average office lease terms decrease to just one year. Download the full report to find out more.<\/p>\n\n

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