How Much Does It Cost to Rent a Meeting Room?
One of the most important factors for holding a successful meeting beyond the agenda, the list of attendees, and, of course, the catering — is where you hold the meeting. That’s why anyone who’s planning a meeting should put a fair amount of effort, as well as resources (i.e., time, money, and energy), into renting the right space. It can make the difference between a gathering that’s uncomfortable and full of distractions — think traffic blasting from outside or people talking in nearby rooms — and a meeting where everyone is able to get down to business, communicate effectively, and creatively collaborate to solve problems and come up with answers.
Regardless of how large your budget may be, you’re likely to be wondering: “How much does it cost to rent a meeting room?” There’s no set amount, as the most upscale meeting rooms can run hundreds of dollars more than the most reasonably priced — but this article will help you establish a general range as you begin to plan out your budget. And we will also be recommending a useful resource to help you find the perfect meeting venue in your city. Read on to learn more!
How much does it cost to rent a meeting room?
The cost is heavily dependent on where you are planning the meeting. That means if you’re in a big metro — or an especially expensive city like New York City — or a smaller, more affordable city like Cincinnati, OH, the price you’re likely to pay is going to be pretty different. But it’s not just the city. The particular neighborhood within the city also makes a major difference.
For example, a meeting room in Midtown, NY, will be much more expensive, on average, than one in, say, Inwood, at Manhattan’s northern tip. And in Cincinnati, the wealthiest neighborhood is called California (also known as Grove Park), and its meeting spaces will be much costlier than those in the more affordable neighborhood of Madisonville, for instance.
Another major factor is size. A meeting room that can comfortably accommodate just six to eight people will be significantly more affordable than a larger space with a capacity of 20 to 40 people. Additionally, if the room includes additional features like the needed A/V hookups, projector, catering services, technical and administrative support, parking, and so forth, this will also drive up the cost.
With that disclaimer, let’s get into the nitty gritty of pricing! In the country as a whole, the average meeting room costs around $30 at the low end to $250 at the high end. If you rent the space for a full day, rather than by the hour, the hourly price may be cheaper — you might end up paying around $400 to $700 to for a small room, or $1,000 to $1,500 for a larger room.
Here are a few examples of the kind of meeting room spaces that are available, across a range of budget levels:
- A small meeting room space in NYC can cost $50/hour and accommodate up to 12 people
- A medium-sized meeting room in Chicago may have a capacity of up to 20 people and cost $125/hour
- A beautiful executive boardroom in Santa Monica, CA, can have a capacity of 14 people and cost $195/hour
- An “ideation room” in Dallas, TX, complete with a private cafe and lounge, may have a capacity of up to 75 people and be $209/hour
How do you find the right meeting room?
To get an even clearer and more specific sense of what renting a meeting room will cost in your intended city, do a quick search on Peerspace and scroll through the various options.
Peerspace is an ideal place to locate the right room for your next meeting. Across hundreds of American cities, you’ll find thousands of venue options. And these aren’t just your traditional —and, frankly, often boring — meeting spaces, either.
There are also an awe-inspiring number of exciting, unique spaces available, too, if you’d like your meeting to take place in a more memorable location than a standard hotel conference room. You’re likely to find that a more attractive, distinctive space will inspire your group’s creativity.
Peerspace is also incredibly easy to use. Just enter your city and event type (in this case, “meeting”), and all the options are right at your fingertips. You can filter your search so that only the venues that fit within your budget will come up.
Plus, you can also filter the results by space type, features, keyword, and more. When you click on listings, you’ll find in-depth descriptions, high-quality photos, and reviews of the space.
In addition, Peerspace’s Concierge team can even help you with other elements of event planning, beyond selecting the meeting location. They’ll take on aspects like catering, furniture, A/V rentals, and more, streamlining the process and saving you a ton of time and energy.