Coworking Spaces Cross 164 Million Square Feet in the US as the 'Third Workplace' Trend Grows
The US coworking industry continued its rapid expansion into 2026, with a first-quarter industry report finding the market had crossed 164 million square feet across more than 9,100 locations nationwide — growth increasingly concentrated outside the traditional gateway cities that once dominated the sector.
According to the report, Los Angeles remains the largest single coworking market by location count, but the fastest percentage growth in the first quarter of 2026 occurred in secondary markets including Philadelphia and Tampa, reflecting what several industry analysts describe as a broader shift of coworking demand into mid-sized cities. Separate 2026 market analysis projects the global coworking space market will grow from roughly $26.2 billion in 2025 to over $30 billion in 2026, a compound annual growth rate near 15%.
Industry commentary increasingly frames the growth around the concept of a "third workplace" — not the home office, not company headquarters, but a local, flexible space chosen partly for the built-in professional community and networking opportunity it provides, rather than purely for desk space. This framing dovetails with 2026 workplace research showing many professionals, particularly younger ones, associate physical workspace with networking and social connection as much as with productivity.
For freelancers, solopreneurs, and remote employees, the growth of coworking spaces represents a structural networking opportunity: a recurring, low-commitment environment where the kind of incidental professional contact once associated with traditional offices can still occur. See our related guide on networking for freelancers and solopreneurs for how to make deliberate use of a shared workspace community.