How Much Does it Cost to Rent an Office Space: Is New York the Best Option for You

 

Read this article and discover how much does it cost to rent an office space in your area or city. Why rent office in New York? Is it your best option? Read and find out more!

When you are starting your own business, the common rule of thumb is to keep your costs low, if you want to start right and build a successful business or trend. However, when it is time to trade in the local coffee shop, your basement or your bedroom for an actual office space of your own, what are your thoughts – what can you expect the costs to be?

According to one research, we have managed to pull out information on how much space you will get for your dollar in popular metropolitan centers all over the US, from New York to Atlanta.

As you probably know, the rental costs are usually determined by various factors, such as unemployment rates, vacancy, demand for space, cost of living, and etc.

According to this research, San Francisco has the highest cost of living while New York is the ultimate winner when it comes to available office places. New York has the most available offices and the largest labor force. What about other cities?

Well, Miami has the least amount of office places available and Seattle is the smallest labor force. If you need more options and a larger labor force, there is no doubt that New York is your best option.

Dallas and Atlanta have vacancy rates of more than 19%, giving entrepreneurs more of an upper hand, when it comes to leasing an office. The rent prices are affordable in Houston, Chicago, and L.A when compared to other cities we mentioned before.

From this information we can conclude that renting an office space in New York is without a doubt your best option. The city can offer you different choices which is great as you can easily find the perfect office for your type of business. The city is well connected which is great for your employees and business associates.

How much office space does $5000 a month get you across different cities in the US?

Well, for Boston the average price is $30 per square foot and you will get around 1900 square foot place, for for DC the average price is $50 per square foot and you will get around 1140 square foot place, for Dallas the average price is $23 per square foot and you will get around 2600 square foot place, for Miami the average price is $33 per square foot and you will get around 1800 square foot place, for Los Angeles the average price is $33 per square foot and you will get around 1900 square foot place, for San Francisco the average price is $65 per square foot and you will get around 921 square foot place, for Seattle the average price is $32 per square foot and you will get around 1800 square foot place, for Chicago the average price is $35 per square foot and you will get around 1700 square foot place, for New York the average price is $74 per square foot and you will get around 850 square foot place, for Houston the average price is $29 per square foot and you will get around 2100 square foot place, for Atlanta the average price is $21 per square foot and you will get around 2800 square foot place.

What do you think is the best option for you and your business? If you are asking the experts, they would probably say that New York is the ultimate winner. After all, it is considered to be the center of the universe and renting an office space in New York is really a big step for your business.

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