The Best US Cities for Renting an Affordable Office Space
If you are looking to rent an office space in the US, you have come to the right place, as in this article, we are going to present you the best US cities for renting an affordable and low-cost corporate space.
According to one research, the average rate for renting an office space was $25 per square foot and as the US economy improved, the prices for renting a corporate space are on the rise. For entrepreneurs and business owners, renting an average 1500-square-foot office requires paying $60 more per months. These are just rough numbers and are based on the current effective rate, which includes the landlord concession and the free rent for the first one or 3 months.
In spite of the rising prices, entrepreneurs are slowly starting to rent more meeting rooms and office spaces. The rates for office spaces are increasing most rapidly in San Jose, San Francisco, Silicon Valley, and its metro area, as well as in New York. The price expansion is driven by businesses in the technology and energy industries. Dallas and Houston, the most urban hubs of Texas, are also among the areas where office rents are growing the fastest.
As tech and energy are global industries that are not fastened as closely to the overall economy in the US, as other sectors, they weren’t hit as hard by the previous recession and can afford to shell out more money for great and attractive office spaces. According to the latest research, the US economy is growing at 2% these days and if you know what you are doing and if we are all licky, you have much more people that will form your customer base.
Over the past year, we’ve made a list of cities where office rents are increasing the fastest. The number one place goes to San Francisco, California where an average price per square foot is $35.99. The second place goes to San Jose, California where an average price per square foot is $25.05, then there is New York where an average price per square foot is $15.64.
We also have a list of cities where office rents are falling the most. The number one place goes to Chattanooga, Tennessee, where an average price per square foot is $10.80, then Long Island where the average price per square foot is $21.99, then Las Vegas, Nevada where the average price per square foot is $18.05, then Columbia where the average price per square foot is $12.43, and finally San Bernardino or Riverside, California where the average price per square foot is $17.04.
According to this information, we can conclude that Chattanooga, Tennessee is one of the most affordable cities for businesses and startups looking to rent office spaces. The city is attractive and great option for business owners looking to save money and cut expenses because of its low costs for employee payroll and office space. The research shows that it would cost you approximately $225,442 for a business owner with a 1000-square-foot office and 5 employees to run a startup here.
You have to set up a budget and determine your needs in order to find a proper office space for your business company. If you like, you can get in touch with the best workspace office solutions providers on the market and allow them to help you find the perfect meeting or office space for you. These workspace office solutions providers are experienced and know exactly what your business company needs.