Coworking Spaces in Austin, TX
According to a recent article in Forbes, Austin is the fastest-growing large city in the U.S. And with a metropolitan population of over 2.1 million residents, Austin is a major center for high tech companies in Texas. Nicknamed “Silicon Hills”, the Texas capital is host to a dynamic mix of high technology, pharmaceutical, and biotechnology firms.
In addition, the Austin coworking scene reflects the diversity of the people who live and work in South Texas. The workforce in Austin is a vibrant blend of high-tech workers, entrepreneurs, educators, and public-sector employees. Over 40,000 work as freelancers in Austin, representing about 7.3% of the total labor pool. Freelancers working in the information, professional and scientific, and management sectors account for about 22% of the total freelance market in Austin.
Coworking Market in Austin, TX
In a recent report by commercial real estate company JLL, Austin ranked as the #4 market in the U.S. for projected coworking growth in 2019. In fact, Austin is among the top U.S. cities by percentage of urban office space used as flexible office space. According to Yardi Matrix, 5% of the urban office market is used for shared space in Austin, putting the city ahead of much larger coworking office markets such as Manhattan and San Francisco.
There are 47 coworking locations that total over 1.2 million square feet of coworking space in Austin. The metropolitan area is home to high tech powerhouses such as Apple, Amazon, Dell, Intel, PayPal, and Samsung. Freelancers working in technology-related fields tend to be the heaviest users of coworking space, which helps explain why such a large percentage of office space in Austin is used as flexible shared space.
Venture capitalists are also attracted to Austin’s world-class high-tech economy and well-educated workforce. Over the last 5 years over $6.9 billion in venture capital has been invested in Austin. Between 2013 and 2017 the number of people in Austin holding bachelor’s degrees or higher has skyrocketed by 23.5%. Over the past four years the number of degree holders in the social and engineering fields has grown by nearly 50% making Austin ripe for additional coworking growth.
Update: COVID-19’s Impact on Commercial Real Estate
May 21, 2020
The economy has been devastated. We’re facing depression-level unemployment and all of us are wondering what our new normal will look like. While the stock market has recovered slightly it tells an uneven story of e-commerce, the expansion of tech and the devastation in retail, travel and experi...
COVID-19’s Impact on Commercial Real Estate
April 10, 2020
The economy was on a roll in February. Even as the severity of the pandemic was taking shape in China, the U.S. remained on the upswing. But, since then, the economy, markets, jobs and businesses have been dwindling. Last week, Yardi Matrix hosted a webinar on how COVID-19 is affecting commercia...
Why Coworking Options Are A Brilliant Employee Perk
March 23, 2020
Coworking is a great option for many people. But the flexible working opportunities these spaces offer also bring a range of benefits to enterprises. So, should you offer coworking as an employee perk? Benefits are an important component of your employment package. Research reveals 78% of worker...
What is coworking?
Coworking is a collaborative and flexible work style that involves a shared workplace or shared office space. The difference between coworking and traditional offices is that people who work in a coworking space don’t usually work for the same company or organization. This is why these collaborative work spaces appeal to freelancers, small businesses, solopreneurs, and independent workers. The coworking provider that manages the space handles all the services and amenities, to make sure all individual needs are covered. Many coworking spaces offer services such as event space and conference rooms, free wi-fi, virtual business addresses, 24/7 access, pet-friendly policies, printer and fax services, as well as the ability to rent office space by the hour, the day, the month, or long-term.
How to find the right coworking space in Austin, TX
COMMERCIALCafé is your go-to source for finding coworking & shared spaces in Austin, TX. Search our selection of in Austin, TX coworking spaces and find the right provider for your workspace needs. Our database includes 55 coworking office properties, so you can easily find your space and start working. Use our advanced search feature and filters to find the right shared office space, by selecting your desired price, neighborhood, and amenities such as complimentary Wi-Fi, coffee and tea, printing and scanning services or pet-friendly policies. Whether you’re looking to rent office space for a day, trying to find an hourly office rental, or searching for a longer-term option, we’ve got you covered.