Updated: December 4, 2024
From start-ups to enterprise organizations, many business leaders are exploring their options for office space solutions to accommodate their needs going forward. And since office space is one of the biggest expenses in their budget, the cost of coworking space is a key consideration.
If you’re unsure about how much you can expect to pay for a flexible office lease, this article’s for you. We’ve broken down all of the factors that contribute to the cost of coworking so that you can decide if it’s right for you.
Here’s what you need to know.
How Much Does a Coworking Space Cost?
To determine how much a coworking space costs, you need to understand the factors that impact price. Coworking space costs vary based on things like:
- Location (i.e., large city, suburban areas, proximity to transportation)
- Amenities and services
- Type of membership you purchase
Because it can vary, we recommend you always book a tour and check out the coworking space in person. You can get a sense of the place, ask any questions you need, and better understand the value you’re getting.
Cost of a Coworking Hot Desk Membership
What is coworking? Also referred to as hot desking, this is perhaps the purest form of shared workspace. Hotdesking is when people share workspaces and don’t have a dedicated desk. Instead, they bring their own computer, choose any open seat in the communal workspace, and get to work.
Average cost: Coworking Insights published its 2022 Hot Desk Price Index, which analyzes data from 13,894 spaces in 172 countries. They found the following average prices (USD) for a monthly hot desking membership:
- $239 (Dallas)
- $316 (LA)
- $345 (New York)
- $289 (Washington DC)
The Cost of a Dedicated Desk in a Coworking Space
What is a dedicated desk? If you don’t want a “hot desk” and need something more permanent, a dedicated desk is the next step up. With this option, you have your own private desk where you can keep your personal belongings or add decor like photos and plans. Dedicated desks also come with locked desk drawers for additional security.
Average cost: Dedicated desks are typically 20-30% higher in price than a hot desking coworking membership.
The Cost of a Private Office in a Coworking Space
What is a private office? A private office in a coworking space is a secure, locked workspace used only by the individual or team who rent it. Some solopreneurs prefer their own private space instead of hot desking or having a dedicated desk in a shared area. Small teams may also occupy a private office with multiple workstations. Private offices are often located on the same floor as open workspace areas and share the coworking amenities with other members.
Average cost: Private office prices vary based on size, location, and layout. Most coworking spaces will offer a custom quote for you or your team, but you can expect prices to start at around $600.00 for a single occupancy private office.
The Cost of a Team Suite in a Coworking Space
What is a team suite? Like a private office, a team suite is a dedicated, secure workspace. They’re typically used by much larger teams and may take up an entire floor or half floor of the coworking space. Team suites are often equipped with their own kitchen or meeting rooms as well.
Average cost: Again, similar to private offices, the prices for team suites vary significantly based on size, location, furniture, and amenities. Coworking spaces can provide a custom quote based on your needs. .
The Cost of a Coworking Space Day Pass
What is a day pass? Traveling professionals or occasional coworkers may choose to optimize the cost of coworking by paying on-the-go. A day pass provides one-time access to the coworking space, typically in an unassigned area, plus amenities and services.
Average cost: A coworking day pass ranges between $20-$50 per day, depending on where you’re looking. Some limit the hours you can be there to business hours, others may be 24-hour access. Amenities like printing or meeting room access can vary as well.
Coworking Space vs. Traditional Office: A Cost-Benefit Analysis
When considering where to base your business, the decision between a coworking space and a traditional office lease can feel overwhelming. Each option comes with its own set of costs, commitments, and advantages, so it’s essential to weigh the benefits carefully. Let’s break down the key differences to help you decide which one fits your needs.
Upfront and Ongoing Costs
Traditional office leases often require a significant financial commitment right out of the gate. You’ll need to budget for deposits, furniture, utilities, and ongoing maintenance—all of which add up quickly.
But that’s not even the worst part.
Many traditional offices will require overhauls and upgrades, like ripping down walls, painting, rewiring, or whatever it might be. While you might get a tenant improvement allowance to help with some of these fixes, nothing makes up for the hassle and headache that come with having to act as a project manager for office renos.
By contrast, coworking spaces streamline these expenses by offering all-inclusive pricing models that bundle services like cleaning, internet, and utilities into a single membership fee. This not only reduces upfront costs but also simplifies financial planning. It also means you don’t have to worry about running an office on top of running your business.
Some of the big cost-saving advantages of coworking spaces include:
- Lower startup costs with move-in-ready spaces.
- No need to furnish or maintain the space yourself (though you’re welcome to add any and all furniture as you see fit and customize the space to your needs).
- Inclusive pricing that covers essentials like utilities, internet, and cleaning.
With coworking, you avoid the hidden costs often associated with traditional offices, allowing you to allocate resources more strategically.
Flexibility and Scalability
In a rapidly evolving business landscape, flexibility is more important than ever. You’ll probably agree that maintaining your company’s operational agility is one of the most important things you can do today. After all, with exponential change being the only certainty, it’s hard to say where your business will be in one year, let alone three to five years.
Traditional office leases often lock your business into a long-term contract, making it tough to adapt to changes such as downsizing or expanding. This rigidity can lead to wasted resources or growing pains when your space no longer aligns with your needs.
Coworking spaces shine in this area by offering:
- Short-term agreements that adapt to your business’s changing needs.
- The ability to scale up or down seamlessly, whether you need a single desk or an entire suite.
- Cost-efficient solutions for businesses with fluctuating team sizes or project-based work.
This flexibility makes coworking spaces an attractive option for businesses navigating growth or navigating uncertain markets.
Amenities and Services
Coworking spaces aren’t just about providing a desk, chair, and walls—they’re designed to support productivity and convenience. Traditional office spaces will often require you to independently arrange for amenities like meeting rooms, kitchen spaces, or IT infrastructure. This not only increases costs but also adds logistical challenges.
Think of it this way: do you really want the headache, costs, and learning curve that come with setting up an office?
In coworking spaces, you’ll find:
- Access to meeting rooms, lounge areas, and communal kitchens.
- On-demand tech support and high-speed internet.
- Inclusive perks like coffee, snacks, and networking events.
These services create a hassle-free experience and allow businesses to focus on what matters most—growing and thriving.
Community and Networking Opportunities
Traditional offices may provide privacy, but they often lack the vibrant sense of community that coworking spaces are known for. And in a world where you and your team may have long been deprived of human connection, this is vital.
In a coworking environment, you’re surrounded by a diverse group of professionals, creating opportunities for collaboration, networking, and innovation.
The community aspect of coworking spaces fosters:
- Organic networking through shared spaces and events.
- A sense of belonging that boosts motivation and creativity.
- Potential partnerships and business growth opportunities.
If you value connecting with like-minded professionals and building relationships, coworking spaces offer an unparalleled advantage.
Privacy and Personalization
Of course, every business has unique needs, and privacy or branding might be at the top of your priority list. While coworking spaces offer private offices and customizable suites, traditional offices give you full control over design and layout. This can be a deciding factor if your brand requires a highly specific environment.
Consider these aspects:
- Traditional offices allow for full customization of the workspace to align with your brand.
- Coworking spaces provide private offices but with limited customization options.
Weigh your need for privacy and branding flexibility when choosing between the two options.
The facts are clear: coworking spaces offer a modern, cost-effective alternative to traditional office leases. From flexibility and savings to community and services, coworking spaces align with the needs of today’s dynamic businesses. Whether you’re scaling your startup, downsizing your team, or simply seeking a more efficient workspace, coworking could be the key to a more productive and financially sound future.
The Cost of Coworking Space at Launch Workplaces
At Launch Workplaces, we offer a range of services, including hot desks, dedicated desks, private offices, and team suites. Our all-inclusive memberships mean there are no hidden fees, and we’re always happy to work with you to make the space exactly what you need.
The cost of coworking spaces at Launch include:
- Day Pass: $20/day for one-time use, Monday-Friday, 9:00 am-5:00 pm
- Coworking Membership: Starting at $200/month, Monday-Friday, 9:00 am-5:00 pm
- Launch Pass (Part-Time Private Offices): Starting at $275/month, 24/7 access
- Dedicated Desk: Starting at $412/month, 24/7 reserved access
Prices for our private offices start at $600/month and increase based on occupancy.
Team suites vary based on size, location, and specific features or needs for your team. If you’d like to dig into the details and receive a quote, we’d love for you to get in touch with us to start a conversation about what you’re looking for.
Other Considerations for a Coworking Space
We’ve talked a lot about the cost of coworking space, but we want to end by saying price isn’t everything. It’s important to find something within your budget, of course, but there’s more to consider.
Coworking isn’t about finding a desk to sit at. Rather, it’s an all-inclusive membership to a community-centered environment where you have everything you need to do your best work.
And by “everything,” we mean:
- All the coffee, tea, and water you can drink
- Access to printing, copying, and scanning
- Conference room hours to hold meetings
- Flexible areas and spaces like lounges, kitchens, private phone booths, and more
- A like-minded community of professionals with opportunities for networking and social events
- Virtual office services
Launch’s commitment to hospitality and community means that we’re here for you. Whether that’s planning the next exciting activity, helping you set up your meeting room, or always making sure there’s a hot pot of coffee, we’re here to help.
Consider more than the cost of coworking space when you’re looking for a new office. Here’s our list of 12 things to look for in a coworking space so you can make the right decision.
Is the Cost of Coworking Space Less Than Traditional Offices?
The last thing to consider with the cost of coworking space is its comparison to a traditional office lease. Many commercial office buildings have rigid, long-term leases. Conversely, if your business is growing and you need more space, it might be hard to get.
In contrast, flexible offices in a coworking space are designed to allow you to scale up or down as needed. Launch’s team suites, for example, are suitable for larger teams who need private, secure office space. They sign on to a simple, short-term license agreement that’s designed for flexibility. The suites are move-in ready and include all the services and amenities our coworking members enjoy.
When you look at the total value per dollar, flexible offices in a coworking space can help you save money in a few ways:
- Pay for just the space you need and use
- Flexible contracts that allow you to scale up and down
- All-inclusive pricing with access to services and amenities
- Shared overhead costs with other businesses and coworking members
Coworking spaces offer a cost-effective alternative to the traditional office. They also offer amenities, services, and communities that create an engaging and productive environment to get work done.
Frequently Asked Questions About the Cost of Coworking Space
Coworking is an unfamiliar concept for a lot of people. So, if you’re one of them, check out some of the most frequently asked questions about the cost of coworking space.
Is Coworking More Cost-Effective Than a Traditional Office Lease?
When evaluating workspace options, cost is often one of the most important factors to consider. While traditional office leases may initially appear to provide stability and privacy, they often come with high upfront and ongoing expenses that can burden businesses over time. In contrast, coworking spaces offer a more flexible and streamlined approach to office space that can significantly reduce costs.
Traditional office leases typically involve expenses like:
- Upfront Costs: Deposits, furniture, and infrastructure setup.
- Ongoing Costs: Utilities, maintenance, and cleaning services.
- Hidden Expenses: Repairs, security, and miscellaneous overhead.
Coworking spaces eliminate many of these costs by offering all-inclusive pricing models. Membership fees cover essentials like utilities, internet, cleaning, and access to shared amenities, allowing businesses to focus their budgets on growth rather than operational costs. Additionally, coworking memberships often feature flexible terms, helping businesses avoid the long-term commitments and financial risks associated with traditional leases.
For businesses seeking a cost-effective and adaptable solution, coworking spaces provide the financial predictability and flexibility needed to thrive in today’s dynamic market.
What Amenities Are Included in a Coworking Membership?
Coworking spaces are more than just desks and chairs—they’re thoughtfully designed environments that offer everything you need to work effectively and comfortably. The amenities included in a coworking membership often surpass those of traditional office spaces, creating a hassle-free experience for professionals and teams.
Here are some of the amenities you can expect in most coworking memberships:
- Workspaces: Access to hot desks, dedicated desks, private offices, or team suites.
- High-Speed Internet: Reliable connectivity for seamless productivity.
- Meeting Rooms: Fully equipped spaces for team discussions and client meetings.
- Printing Services: On-site printing, scanning, and copying facilities.
- Kitchen Facilities: Stocked kitchens with coffee, tea, and sometimes snacks.
- Common Areas: Lounges, breakout spaces, and networking zones.
- On-Site Support: Staff to assist with technical or operational needs.
These amenities are designed to remove the logistical challenges of office management, enabling members to focus on their work while enjoying a professional, community-oriented atmosphere. The all-inclusive nature of coworking memberships makes them an attractive option for businesses seeking both convenience and value.
What’s the Difference Between a Hot Desk and a Dedicated Desk?
When choosing a coworking membership, it’s important to understand the types of workspaces available to find the right fit for your needs. Two popular options are hot desks and dedicated desks, each offering distinct advantages depending on your work style and preferences.
Hot Desks
Hot desks, also known as shared desks, allow members to use any available workspace on a first-come, first-served basis. This option is ideal for professionals who value flexibility and don’t require a consistent spot to work from each day. Hot desks are often located in open, communal areas and come with access to shared amenities.
Benefits of hot desks include:
- Cost-effective pricing.
- Flexibility for those who don’t need a fixed workspace.
- Opportunities to network and collaborate in communal areas.
Dedicated Desks
Dedicated desks, on the other hand, provide a reserved workspace for the member’s exclusive use. This option is perfect for individuals who prefer consistency or need to leave personal items and equipment at their desk. Dedicated desks are often accompanied by additional storage, such as lockable drawers, for added convenience.
Benefits of dedicated desks include:
- Consistency with a fixed, personal workspace.
- Storage options for personal belongings.
- A sense of ownership and routine within the coworking space.
The choice between a hot desk and a dedicated desk ultimately comes down to your work habits, need for flexibility, and desire for a consistent environment. Both options provide access to the collaborative and resource-rich environment that coworking spaces are known for.
Whether you’re looking for a new space for your team or just want to get out of the house, coworking might be for you.
If you want to learn more about Launch’s services and the cost of coworking space in our various locations, contact us today and book a tour of your nearest Launch Workplaces.
