Where do coworking spaces make the most money? This week we have used our data to produce an insight into revenue per desk across coworking spaces in US markets. It paints a picture of pricing and occupancy and revenue across key flex markets, allowing us to determine the revenue per desk (RevPAD) and identify top markets for coworking revenue. Read on for pricing and occupancy from Las Vegas to Boston!
Below is our chart. It expresses desk price per month and occupancy for December 2021 on the axes, and further, revenue per desk (RevPAD) by the size of the market's circle. RevPAD is itself an expression of desk rate and occupancy, giving us a number for revenue turned by a desk in a month.
To explore the chart full screen click here: https://datawrapper.dwcdn.net/udAvC/
The chart shows us the most expensive cities for a coworking desk:
Not too many surprises there... Furthermore, it shows us the best occupied spaces in December are:
Perhaps slightly more surprising, however, only RevPAD tells the full story...
Our top 5 locations in terms of coworking desk generate revenue are:
Yes that's right, exactly the same top 5 as rate! This shows us the sensitivity of RevPAD to desk pricing, and in turn, the importance of pricing strategy in flex management. Using coworking data to ensure sound and effective pricing is increasingly essential as supply grows.
Also interesting is the type of markets featuring and how they feature. For example, some locations featured are smaller or rural gateway cities in the US without much coworking presence ahead of the pandemic (Boulder, Sacramento). Furthermore, higher occupancy markets correlate with those boasting a greater domestic immigration post-pandemic, and often hubs with rural-access. It stands to reason that these well-occupied markets are well-positioned to boost their prices and overall revenue in the coming months.
So there you have it, your top 5 US markets for coworking revenue. If you wish to look at top coworking spaces, you can visit our directory, or to learn more about the power of coworking data in optimizing strategy, click below:
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