BOSTON–Boston’s flexible office market showed strong momentum in the first quarter of 2025, outpacing the national growth average in both coworking space inventory and total square footage, according to CoworkingCafe’s newly released Q1 2025 Coworking Market Report.
In a move to deepen its industry insights, CoworkingCafe has expanded its quarterly analysis to cover the 50 largest U.S. coworking markets. The Q1 report, based on proprietary data as of April 2025, highlights key trends across the country in terms of inventory growth, square footage, pricing, and top operators.
Boston’s Flex Space Footprint Grows
Boston’s coworking landscape added 12 new locations in Q1, marking a 6% increase in inventory. The city closed the quarter with 222 coworking spaces, up from 210 at the end of 2024. This puts Boston at #9 nationally in terms of coworking inventory, according to CoworkingCafe.
The growth in physical footprint was even more pronounced. Total coworking square footage in Boston rose by 8% to reach 5.34 million square feet, earning the city a #5 ranking nationally for total flex office space. This expansion was driven in part by larger average locations — which now span 24,053 sq. ft. per site, a 3% increase over Q4 2024. That average size places Boston fourth in the nation, trailing only Manhattan, Chicago, and San Francisco.
Mixed Trends in Local Pricing
CoworkingCafe’s report notes that pricing shifts in Boston were uneven across different space types:
-
Virtual office rates held steady at $119/month, remaining below the $149 national median.
-
Open workspace rates dipped by $29 to $139/month, falling just below the national median of $149.
-
Dedicated desks saw a significant jump, rising $12 to $399/month, almost $100 above the national median of $300.
These mixed pricing trends suggest ongoing recalibration in Boston’s coworking market as supply expands and operators respond to shifting demand.
National Market Continues Steady Expansion
On a broader scale, the coworking sector across the U.S. saw modest but steady growth. Nationwide, the coworking inventory grew by 2%, adding 145 new spaces to reach a total of 7,840 locations. Total square footage climbed by 3%, now totaling more than 140.7 million square feet.
CoworkingCafe also reported relatively stable national pricing, with open workspace and dedicated desk rates remaining flat at $149 and $300/month, respectively. However, virtual office rates rose sharply by $29, reaching a national median of $149/month.
Meanwhile, the industry’s top five operators — Regus, HQ, Industrious, Spaces, and WeWork — expanded their combined footprint by 6%, now operating 1,822 coworking locations across the U.S. HQ led the pack with 38 new spaces in Q1 alone.
Conclusion
Boston’s robust Q1 performance signals its growing importance in the evolving coworking landscape. As noted in CoworkingCafe’s report, the city not only maintained its place among the top 10 coworking markets but also surged ahead in terms of square footage and average location size.
With continued national growth and local demand trends, Boston appears well-positioned for further expansion in the months ahead.
Read the full report at: CoworkingCafe Q1 2025 Coworking Market Report
