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Houston is the most affordable Texas market for a freelancer when it comes to paying for a coworking space and an apartment.
A freelancer in Houston must make $32/hour based on a 40-hour week or work a 34-hour workweek to afford the coworking plans presented in the study and housing expenses without them splitting with a roommate, according to a CommercialCafé study. The study calculates the number of work hours required based on the U.S. freelance average rate of $37.87/hour.
The most expensive city in Texas for freelancers is Austin, where it takes $43/hour fees or a 45.5-hour workweek to able to afford a private office and rent. Plano falls in the middle. Freelancers there need to charge $37.60/hour or work a 40-hour workweek. In the Dallas-Fort Worth area, freelancers need to make $35.70 and $34.60/hour or work a 37.7- and 36.5-hour workweek, respectively.
Houston had been slow to adopt the coworking trend but has picked up as of late. Several building owners have chosen to bring on coworking tenants. SpaceShare is a new shared workspace platform that helps tenants and companies fill unused or underutilized space in Houston.
Not just office operators note the benefit of a coworking space. Multifamily, mixed-use and nontraditional players have entered the market. Life Time, a national wellness club, is adding a 25K SF shared workspace adjacent to its City Centre location. Houston-based Ancorian plans to include coworking space in a 44K warehouse redevelopment in East Downtown.
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