Los Angeles has taken the lead in national coworking rankings, surpassing Manhattan by one space according to Yardi’s Coworking Cafe. As of the fourth quarter of 2023, there are 268 coworking spaces in Los Angeles alone. This market has shown strong recovery with a 1% growth after experiencing decreases last quarter. With a total inventory of 6.57 million square feet, Los Angeles covers almost half the surface area compared to Manhattan.
Orange County also showed significant growth in Q4 as it saw a 6% increase in square footage, bringing its total inventory to 2.38 million square feet and placing it third among the top twenty-five coworking markets nationally.
In terms of subscription prices, both Southern California markets experienced drops with virtual office median prices at $137 per month for Los Angeles and below $100 for Orange County. However, LA reached the national median rate for open workspaces at $149 per month.
Other California cities that made it into the top twenty-five include Bay Area (number twelve), San Francisco (number sixteen), and San Diego (number eighteen).
