Self Storage in Texas Continues to Thrive: New Construction and Growing Demand

The Texas self storage market remains one of the most active in the country, powered by steady population growth, strong investor confidence and ongoing consumer demand. In both 2023 and 2024, Texas accounted for an impressive 12% of all new self storage construction nationwide — highlighting the state’s key role in driving sector-wide growth.

Several factors are fueling this momentum. For more than a decade, Texas has seen significant population growth, particularly from domestic migration. In 2023 alone, the state led the nation in net migration gains, adding roughly 137,000 new residents from other parts of the U.S. This steady influx of newcomers has had a direct impact on self storage demand — not just during the moving process, but well after, as people adjust to new living spaces, downsize or combine households.

At the same time, the typical size of apartments in Texas is shrinking. While multifamily development is booming in major urban centers, new units are getting smaller. Between 2016 and 2024, the average size of a new apartment in Texas dropped by 25 square feet, reaching 903 square feet today. That’s roughly the loss of an entire closet, which naturally increases the need for off-site storage.

Economic growth is another key driver. Texas continues to attract businesses across a wide range of industries, and many are turning to self storage to offset rising operational costs. Whether used as flexible inventory space, document storage, or short-term warehousing, self storage is becoming a go-to solution for cost-conscious companies in both urban and suburban markets.

Supported by these demand trends, Texas added over 7.1 million square feet of self storage space in both 2023 and 2024. The state now boasts a total inventory nearing 262 million square feet.

This robust supply, combined with steady development activity, has helped keep street rates competitive. At an average of $117 per month, self storage rents in Texas are approximately 13% below the national average — an added benefit for both residents and businesses looking for affordable space solutions.

Lone Star State shares spotlight in Southern self storage surge

Texas isn’t alone in its self storage construction boom — it’s part of a broader regional surge across the Southern U.S. Multiple states are significantly expanding their storage footprints in response to rising demand from both residential and commercial users. Florida leads the region in planned development, with 9.5 million square feet of rentable storage space expected to be delivered in 2025. That figure represents 5.4% of the state’s total inventory, pointing to the scale of activity underway. By comparison, Texas has 6.5 million square feet of new space in the pipeline, amounting to 2.5% of its current inventory.

Other Southern states are also poised for substantial growth. Georgia is on track to deliver more than 2.9 million square feet of new space, while North Carolina has a similar volume planned. Even smaller states are contributing to the trend — Delaware, for example, has nearly 93,000 square feet of new storage space planned for 2025. While modest in absolute terms, that still represents 2.4% of its overall inventory.

Against this backdrop of regional momentum, Texas continues to stand out for the pace and scope of development within its cities. From North Texas to the Gulf Coast, markets across the state are responding to local demand drivers with active construction pipelines.

Here’s a closer look at how this expansion is playing out in key Texas cities.

Fort Worth, second in Texas for 2024 self storage deliveries

North Texas saw substantial self storage development in 2024, with several cities across the Dallas-Fort Worth metroplex expanding their inventories.

Fort Worth stood out in 2024, delivering nearly 564,000 square feet of new self storage space. However, construction is expected to slow in 2025, with just 115,000 square feet currently in the pipeline.

The anticipated cooldown comes as a natural response to an intense five-year growth period, during which Fort Worth expanded its inventory by 22%. The city now offers just over six square feet of storage space per capita — slightly below the national benchmark of 7.4 square feet.

Thanks to this robust supply, Fort Worth has remained one of the more affordable storage markets among Texas’s major metros, with average street rates holding just above $100 per month.

Elsewhere in the metroplex, smaller cities also saw massive growth in 2024. McKinney added over 237,000 square feet of new space, accounting for 8% of its total inventory, and is set to build another 173,000 square feet in 2025. Princeton, a rapidly growing suburb about 30 miles north of Dallas, is emerging as a key development hotspot. The city’s population has more than doubled over the past five years, prompting a major expansion in self storage. In 2024, Princeton delivered 229,000 square feet — equivalent to 42% of its local inventory. Despite this substantial addition, demand remains strong, with usage quickly absorbing the new supply. Street rates reflect this momentum, rising more than 10% year-over-year in January to an average of $168, one of the highest in the state.

Dallas, in contrast, has reached a standstill development activity. No new space was added in 2024 and there are no additional projects announced for 2025.

Central and South Texas see significant self storage expansion in smaller cities

Self storage development remains a key growth area across Central and South Texas, particularly in smaller cities that are seeing rapid population increases and ongoing housing expansion.

San Antonio ranked first in the state for self storage deliveries in 2024, continuing a multiyear trend of sustained development. The city added 583,000 square feet of new space last year, which amounts to roughly 3% of its existing inventory. In 2025, the pace is set to accelerate, with over 800,000 square feet — about 5% of current inventory — slated for delivery.

Several smaller cities in the region are making outsized contributions to statewide development. New Braunfels, a fast-growing city of nearly 100,000 residents strategically positioned between San Antonio and Austin, delivered 208,000 square feet of new storage in 2024. That addition accounted for 12% of its total inventory. With nearly 16 square feet of storage per capita, New Braunfels is well supplied, but strong local demand — driven by a population that has grown by one-third over the past five years — continues to support new development.

Georgetown, a booming suburb north of Austin, added close to 190,000 square feet of new space in 2024. Additional development is already planned for 2025, as the city continues to attract new residents and businesses. Meanwhile, Austin itself has seen relatively limited growth in this sector, with just 87,000 square feet delivered in 2024 — representing only about 1% of the city’s total inventory. As one of Texas’s largest urban centers, Austin may be approaching a more mature stage in its self storage development cycle.

Conroe, punching above its weight in the Houston metro area

Houston added approximately 472,000 square feet of new self storage space in 2024, continuing a consistent expansion trend that’s been underway for the past five years. With 6.8 square feet of storage per capita, the city is near the national benchmark, yet demand remains strong. Average street rates rose to $125 per month as of February, indicating new supply is being met with equally strong absorption.

However, it’s Conroe — a city of just under 100,000 residents north of Houston — that’s truly exceeding expectations. In 2024, Conroe ranked fifth statewide for self storage construction, delivering 260,000 square feet of new space. And the momentum isn’t slowing down: Another 619,000 square feet — equivalent to 20% of the city’s total inventory — are planned for 2025. Conroe’s rapid population growth, along with its expanding commercial footprint, continues to make it one of the most dynamic self storage markets in the Houston metro area.

Logistics, one of the reasons behind McAllen’s self storage construction spree

McAllen, an important trade hub in South Texas, added over 331,000 square feet of new self storage space in 2024 — an increase that represents 22% of the city’s total inventory. This sharp expansion is largely tied to the area’s growing role in cross-border commerce. With its strategic location near the U.S.-Mexico border, McAllen has seen a rise in businesses using self storage facilities as flexible, cost-effective logistics hubs for inventory overflow, seasonal goods or short-term warehousing. This trend has helped fuel a construction boom, with developers eager to meet the evolving needs of both residential and commercial clients.

Further east, Corpus Christi is seeing similar growth, adding 182,000 square feet of self storage space in 2024. As a key port city with a diverse economic base — ranging from energy to tourism — Corpus Christi is also experiencing increased demand for flexible storage options. The influx of new construction is helping to support both small business logistics and residential needs, particularly as the local housing market expands and residents look for off-site solutions to manage space constraints.

From fast-growing suburbs to major metro areas, Texas continues to be a focal point for self storage development. As demand remains high across much of the state, its markets are likely to see continued investment and expansion well into the future.