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20 Coworking Facts You Might Not Know

Posted 08/20/19

While we all know that coworking spaces are thriving in U.S. suburbs and metropolitan cities alike, it still seems to be an elusive subject that teeters between a community club and a semi-private coffee shop.  Coworking and flexible office spaces have solved the problem freelancers and remote workers faced in the early 2000s.  Since technology allowed a staggering group of employees and entrepreneurs to work independently, they needed a low-cost, shared space to be able to maintain a productive schedule away from home.  Now, coworking spaces have rocked the commercial real estate industry to provide competitive, high-tech spaces with an emphasis on wellness to solve our workplace needs.

Here are 20 Coworking Facts You Might Not Know:

The amount of coworking space leased and its share of total office space rose by almost half in only 18 months, from the end of 2016 through mid-2018.

There are approximately over 35,000 flexible workspaces in the entire world, which represents 521 million square feet of flexible space.By 2030, the flexible workspace market is expected to represent 30% of U.S. office stock.

The number of one-person businesses rose from 16.5 million in 2000 to 20.4 million in 2005, according to the U.S. Census Bureau.

The term “coworking,” came from Brad Neuberg, who set up the first coworking space in San Francisco in 2005.

Coworking spaces can lead to a 20-25 per cent cost savings as opposed to working in the traditional office spaces.

As of 2018, Miami is now America’s No. 1 city for coworking.

83% of coworking members report they are less lonely since joining a coworking space.

In the United States, the average monthly rate for coworking space is the highest in Washington, D.C. at $843 per month.

The number of coworking spaces worldwide is projected to soon cross 20,000 and reach 25,968 by 2022, an increase of 42% from 2019.

14% of employees at large companies (more than 1,000 employees) use coworking spaces.

By 2030, the flexible workspace market is expected to represent 30% of U.S. office stock.

Coworking in Asia-Pacific has the highest share of the overall office stock at 2.1%

WeWork now occupies more office space than any other company in Manhattan, ousting JP Morgan in 2018.

Flexible workspace operators currently occupy around 10.7 million square feet of space across central London.

Coworking is defined as: the use of an office or other working environment by people who are self-employed or working for different employers, typically so as to share equipment, ideas, and knowledge.

64% of surveyed coworking members said their coworking networking was an important source of work and business referrals.

Previously traditional spaces including airports, hotels, apartment lobbies, and shopping plazas are adopting coworking space layouts and memberships in 2019.

In 2012, there were two options for software designed for coworking spaces. Today we have over 50 choices.

WeWork’s 450,000-square-foot property in Mountain View, California, its largest space, will solely be occupied by Faceboook.

Coworking centers are pushing towards distinction as more spaces begin to saturate the market. Village Underground in Portugal consists of recycled shipping containers and double-decker buses.

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