CoworkingCafe’s latest quarterly report on the coworking industry leverages proprietary data as of December 2024. The study breaks down coworking space stock availability across the 25 largest markets, their size and distribution, subscription prices, and top coworking operators.
Here’s how the Denver coworking market performed in Q4 2024:
- More Inventory: The Denver market added four more coworking spaces by the end of Q4 2024 – reaching 232 – the equivalent of a 2% growth Q-o-Q.
- Less Square Footage: Denver’s total square footage dropped by 3% Q-o-Q, reaching 3.55M sq. ft. in Q4, compared to 3.66M in Q3.
- Less Average Square Footage: Denver’s average square footage dropped by 5% Q-o-Q, from 16,086 in Q3 to 15,303 in Q4, showing that Denver favors smaller coworking spaces.
- Mixed Pricing: Denver saw a decrease of $1 for open workspaces, reaching $150; dedicated desks increased by $19, now priced at $319; virtual offices gained $1 to $100.
- Q4 2024 vs. Q4 2023: The Denver coworking market saw a 14% increase, from 203 to 232 spaces in t a year. The market also increased its total coworking square footage by 6%, from 3.34M to over 3.55M sq. ft. Average square footage dropped consistently throughout the year, marking a 7% decrease by the end of 2024.
Here are a few national highlights:
- The national coworking inventory increased by 2% in Q4 2024, adding 157 new coworking spaces across the country.
- The total square footage attributed to coworking spaces grew by 3% last quarter, now totaling 136,852,460 square feet.
- The rates for virtual offices and open workspaces remained stable in Q4 – at $120 for virtual offices, $149 for open workspaces, and $300 for dedicated desks.
- The top coworking operators in the U.S. market remained consistent with Q3 2024, but Industrious moved up to claim the second spot in the 25 largest markets, surpassing WeWork. The ranking was completed by Regus in first place, Spaces and HQ fourth and fifth, respectively.
Read the full industry report here: https://www.coworkingcafe.com/blog/national-coworking-report/