Numbers are in for CoworkingCafe‘s Q3 US coworking industry report for 2024. Looking at the 25 largest U.S. markets they share some interesting insights (that can be compared to Q2 results here).

Highlights include a surge in demand to 7,538 spaces (passing 7.5k for the first time, and up 7% from last Q). This growth also saw almost 5M sqft added in Q3, pushing total coverage to over 133.5M sqft (a 5% Q-o-Q jump). Nashville saw the largest growth, adding 22 spaces (or 24%), followed by Indianapolis and Philadelphia with gains of 12% and 9%, respectively. Nashville also recorded the largest coverage growth at 13%, reaching 2.09 M sqft by the end of Q3. San Francisco posted a 12% gain, now recording 3.62M sqft of coworking spaces.

Membership prices remained stable, with the national median for dedicated desks holding firm at $300/month. VO and open workspace rates increased slightly, by just $1, reaching $120/month and $150/month, respectively.

Regus, WeWork, Industrious, Spaces and HQ remained in the lead, with HQ continuing to significantly expand its portfolio by adding 10% more spaces nationwide in Q3, reaching 236 locations. Regus maintained its lead with 998 locations across the country after a slight 2% increase Q-o-Q.

Coworking Cafe recently published data analyzed from 102 cities, comparing the annual cost of dedicated desks for a team of 10 employees to the average cost of 2000 sqft of office space. What they found was that in 97% of the cities analyzed, coworking is more affordable than office leasing, with 17 of the top 20 cities showing a coworking membership priced at less than half the average office lease cost.

California dominated the top of the list with 9 cities in the top 20. In Silicon Valley locations, subscriptions came in at less than half the cost of an office lease – even though several cities in the region have some of the highest dedicated desk prices in the nation. On the opposite coast, the Northeastern region is represented by Boston in fourth place and NYC in 17th, offering 64.2% and 50.2% discounts on coworking subscriptions compared to office leases.

DFW’s coworking inventory increased by 5% in Q2 2024 – surpassing Manhattan in number of coworking spaces for the first time – and is now the second-leading market in the nation, closely behind Los Angeles.

As part of other data complied and published by Coworking Cafe, the Dallas-Ft. Worth market has knocked NYC out of 2nd place for highest number of flex workspace/coworking spaces with a total count of 271 locations. LA (barely) held onto the #1 spot with 279 locations. NYC still remains #1 in total square feet of flexible workspace at over 11 million – more than double the footprint of DFW location.

Bisnow reports that a driver of this growth is development within DFW’s desirable suburban communities, where coworking operators are bringing the office to the employees versus the other way around. Nadim Ahmed, Venture X franchise owner in Dallas-Fort Worth weighs in.

CoworkingCafe‘s newly released quarterly report shows the state of the coworking industry in the United Kingdom and Ireland.

In summary, the UK has 2,806 coworking spaces and Ireland has 210. Breaking those numbers down more, 2,460 are in England, 188 in Scotland, 102 in Wales, 56 in Norther Ireland. Digging deeper Greater London is the coworking capital with 788 spaces, Dublin boasts 101, and they’re followed by Manchester with 69.

In the UK, the national median price for a dedicated desk is £215p/m (£310 in Brighton and Hove), open workspaces £155 p/m (£250 in G.London), virtual offices £40p/m (£99 in G.London) and meeting rooms £25 p/h (£45 in G.London).

Within the top 15 UK cities, Fora runs 60 spaces, Workspace Group runs 55, The Boutique Workplace Company runs 38, WeWork 37 and Landmark 35.

In Ireland, the median dedicated desk price is €299p/m in Dublin (€280 nationally), open workspace desks €200p/m and virtual offices for €50 p/m (both nationally and in Dublin). Meeting rooms in Dublin come in at €44p/h compared to the national median price of €37.

The top three operators in Dublin are Pembr, which has 18 coworking spaces, Iconic Offices with 12 spaces and Workhub with 6 spaces.

In the second quarter of 2024, the national coworking supply surpassed the 7,000 mark, more precisely, standing at 7,041 spaces. CoworkingCafe’s recently released quarterly report breaks down the coworking space stock availability in the 25 largest markets across the US, the spaces’ size and distribution, their prices and the distribution of the largest coworking operators.

Snapshot of the numbers, compared to last quarter: 7% growth in inventory in Q2 2024 (444 more spaces nationwide). LA kept top spot with 279 spaces, but Dallas-Forth Worth surpassed Manhattan for second place (with 271 and 264 spaces). Biggest growth: Indianapolis (up 9%). Biggest dip: Brooklyn (down 2%). Total sqft-age up 2% to 127.67M sqft. Median dedicated desk rates down $9 to $300, with open desk rates also down by a dollar to $149. Virtual office rates steady at $119 p/month.