Coworking is on the rise nationally, including in the Phoenix metro where more space is being gobbled up by operators.
A Coworking Cafe study found that Phoenix gained about 6% more coworking space during the third quarter of 2024 with a total of 2.67 million square feet, up from 2.52 million square feet in Q2 2024 and 2.32 million square feet year over year in Q3 2023.
The 8% increase in the number of coworking locations in the Valley (149) from the second quarter is the fourth-highest increase in location count in the markets studied. That outpaced the national average increase of locations of 7% during that period.
Phoenix ranked 15th among 25 metros studied for total inventory of coworking space. Phoenix ranks between the Bay Area and Philadelphia for total coworking square footage.
