Miami ranked No. 11 among the 25 largest U.S. cities for coworking spaces and No. 13 for square footage in the fourth quarter, CoworkingCafe reported.  

The top cities by number of coworking spaces in December 2023. Courtesy of CoworkingCafe.

Manhattan, Los Angeles and Chicago took the top three spots for coworking square footage, while Los Angeles, Manhattan and Dallas-Fort Worth took the top spots for number of coworking spaces, CoworkingCafe said, citing data from sister company Yardi Matrix. 

In Miami, the number of coworking spaces rose 4% quarter over quarter, from 137 to 143, while the city’s total square footage of coworking space rose 6%, from 2.61 million square feet to 2.77 million square feet. At the same time, the average square footage of Miami’s coworking locations rose 2% from 19,075 square feet to 19,377 square feet.  

Nationally, the stock of coworking spaces increased 10% from the first quarter to the second, rising to 6,163 locations. By square footage, total coworking space rose to 120.6 million square feet from 113.7 million square feet, while the average square feet per location slid 3% to 19,571 square feet from 20,268.   

In terms of coworking subscriptions in Miami, virtual office prices remained at $99, while dedicated desks were flat at $429, and open workspaces rose to $180 from $150. 

Nationally, the median rates for virtual offices, open workspaces and dedicated desks stood at $119, $149 and $322, respectively, at the end of the fourth quarter.