How Much to Rent a Coworking Space? It’s Surprisingly Affordable
November 30, 2021
Curious about what it costs to rent a coworking space? In this article, we lay out the average cost as well as how coworking compares to traditional office space.
One of the primary reasons companies and working professionals choose coworking spaces for their place of business is the flexibility it affords them. Not only do the spaces themselves create an atmosphere of flexibility—the cost also lets you budget in a way that works for you.
For businesses that are just starting out, or even small business owners who simply need a professional space to conduct business, the savings can be critical to their continued success and growth.
How much does it cost to rent a coworking space?
Prices for coworking spaces vary from one company to the next and between different levels of service. They can cost anywhere from a few hundred dollars to over $700 per month. The price variations depend on a number of factors, including the location of the space, amenities offered, and whether multi-tiered packages are offered. Some spaces also offer discounts for long-term contracts.
At the end of the day, however, it is clear that coworking spaces are much less costly than traditional office space.
Are you interested in learning more about our coworking spaces? Get in touch with CoSuite today with any questions you have. We are happy to answer them. Get a firsthand look at our spaces in Miami and Boca Raton by booking a tour today.
Should I rent a coworking space or traditional office space?
Perhaps one of the biggest advantages of renting a coworking space is how affordable it is compared to renting traditional office space. According to ValuePenguin, startups with up to 12 employees can save $2,700 on average a month by choosing to use coworking space rather than renting traditional office space. That’s $32,400 per year, massive savings for companies that are operating on thin margins.
Ultimately, the choice between a coworking space and traditional office space depends on many factors, but if cost is a top priority for you, the smart decision is clear. Coworking spaces offer small companies a huge opportunity to save a lot of cash.
Consider Your Options
While you weigh your options for professional office space, you should consider your needs as well as the total cost. Choosing a coworking space doesn’t mean you need to compromise on privacy or comfort. Many coworking space providers offer different packages with different levels of access and amenities. At CoSuite, we offer coworking spaces, private offices, virtual offices, and more. It all depends on the accommodations—in terms of privacy, dedicated space, and services—you and your organization need.
Ready to talk to someone about your options? We are here to help you make the best decision for your company. Call CoSuite today to book a tour of what could be your new place of business in Miami or Boca Raton.