Find Affordable Office Space in Silicon Valley
It’s no secret that Silicon Valley is an expensive place to rent office space. In fact, it’s more expensive than New York City, New York! Though the economy is doing its best to keep up with the high cost of living, there are just some areas of the San Francisco Bay Area that are out of reach for most businesses looking for affordable office space. Downtown San Francisco offers premier office space at an average of $6-$7 per square foot per month. That may not seem like much until it adds up to a total of $80 per square foot per year! Imagine if your office space is a measly 300 square feet, that’s a grand total of $24,000 per year just in office rent.
That’s a lot of money for a new business! Does that mean that all startups are forced to find office space outside Silicon Valley? No way! Here’s a list that will show you 5 more affordable cities still within Silicon Valley in which you can find your perfect workplace!
Santa Clara, CA
Located just north of San Jose, on the southern portion of the San Francisco Bay, Santa Clara, CA offers affordable office space for rent at a mere $2-$4.5 per square foot per month. It’s no wonder that startups are filling up cities like Santa Clara and San Jose! This city has a population of approximately 124,000 residents, excellent public schools, and a highly diverse community. A higher median household income and an urban feel make this city a great place to rent office space.
San Jose, CA
Coming in with an average price per square foot of $2-$5/sqft/mo, San Jose, CA is another southern Bay city that offers cheap office space. This city holds a population of approximately 1 million residents and a diverse population at that. The influx of startup high-tech companies has dubbed this city the “Capital of Silicon Valley.” With its own airport, a higher than average median household income, and a stable economy, San Jose is an excellent and affordable option.
Mountain View, CA
The smaller and less-known city of Mountain View, CA boasts a walkable downtown where office space goes for $2-$5 per square foot per month. Mountain View is commonly known in the tech industry to be home to Google’s headquarters. This city has a small population of 2,400 residents and an average median household income. This city is much more suburban in feel but provides office tenants with proximity to major cities Palo Alto and San Jose.
San Bruno, CA
Closer to San Francisco, San Bruno is to the northwest of the San Francisco Bay. This smaller city of approximately 43,000 residents offers affordable office space going for about $3-$4 per square foot per month. This city is much more urban in feel and boasts a highly diverse and well-educated community. Public schools in San Bruno are highly rated and this city is within an hour’s drive to the heart of San Francisco, making it an ideal city for renting office space in Silicon Valley.
Located in the northern part of the San Francisco Bay, across the Golden Gate Bridge from San Francisco, Sausalito is an affordable city in which commercial real estate is going for $3-$4 per square foot per month. These prices are incredible considering how close Sausalito is to the heart of San Francisco. This smaller city of approximately 7,000 residents offers a stable economy and a high median household income. In addition, public schools in Sausalito are above average, making this city great for families as well as businesses.
Silicon Valley is a highly sought-after area, it’s no wonder office space is renting for an outrageous amount! The low supply and high demand will continue to raise the prices, even in these more affordable cities. Make sure you lock in your office space while they’re still available at a reasonable price! These cities will only keep growing as startups fill up office space.