Coworking Costs Less than a Monthly Coffee Spend in These Markets

Given the elevated costs many workers spend for their daily coffee, one report says that working in co-working spaces – the chance to get out of the house – is less expensive.

Coworking Café studied the costs to use co-working space in dozens of markets and found that 10 US cities offer that remote office arrangement for less than a basic monthly coffee budget – $100.

The lowest price gap between coworking and working from home (WFH) is registered in Roseville, Calif., where workers can upgrade to a coworking space for the equivalent cost of seven coffees a month ($37). Roseville is a bit northeast of Sacramento, along I-80.

Hartford and Mesa, Ariz., are the other cities where the extra cost of coworking stands at a maximum of $50 per month.

“Inflation is driving up the price of everything as rising interest rates force businesses to pull back and examine just how they’re spending their money,” Coworking Café writes.

“With nearly one-third of Americans still working from home (WFH), reports have clearly shown that this model is saving companies significant amounts of money. But, unfortunately, WFH can also foster feelings of isolation among workers.”

The report calculated WFH expenses as 15% of the home’s monthly utilities costs.

Its report throws in the fact that most coworking spaces make up for it by providing free coffee anyway as part of their subscription prices (on top of the many other benefits, from certain tech gear to networking opportunities).

In Roseville, the monthly average coworking price stands at $93, which means that opting for a flex workspace instead of staying in would only set workers back by $37.

“That’s a small price to pay for all of the benefits brought forth by a coworking space,” according to the report. “At the same time, considering the infamous California traffic, a coworking space within closer proximity of one’s home could also save valuable time, even when used in conjunction with days working from home or from a traditional office.”

Rounding out the top five most affordable coworking markets are Hartford, Mesa, Jacksonville, Milwaukee, Indianapolis, St. Louis, Rochester, Phoenix, and Glendale, Calif.

Co-Working Has Its Drawbacks

Aruna Ravichandran, SVP & CMO, Webex by Cisco, tells GlobeSt.com that co-working spaces can be beneficial for organizations providing an opportunity for their employees to network and collaborate with individuals from different industries and companies, as they are often hosted in a shared environment with multiple businesses.

“However, there are also potential drawbacks to co-working spaces,” she said. “Working in a shared environment can be distracting and may lead to decreased productivity for some individuals. Additionally, there may be concerns around privacy and confidentiality, particularly for organizations dealing with sensitive information.”