How Friendly Is the Self Storage Market in the Top Renter Migration Hotspots?

Balancing necessities with lifestyle preferences isn’t easy these days, especially as the rising cost of living puts pressure on housing markets in the nation’s biggest migration hotspots. But can self storage serve as a buffer for new residents looking to make the most of their living space? The answer is yes — though some states are doing better than others when it comes to both housing and self storage availability.

To get a closer look, we analyzed the latest StorageCafe migration study, identifying the top states for renter migration and comparing those trends with self storage availability across all U.S. states and Washington, D.C. The good news? Nearly all of the top 15 states with the highest net renter gains have storage rates below the national self storage average of $134 per month — offering an affordable solution for people on the move.

Self Storage Prices in America's Renter Migration Hotspots

Rank	State	Net Renter Gains in 2023	Self Storage Average Rent ($)
1	Texas	96,278	117
2	North Carolina	70,833	113
3	Colorado	34,852	131
4	Georgia	32,954	118
5	Washington	25,469	155
6	Arizona	21,208	122
7	Nevada	20,531	129
8	Florida	18,886	140
9	Tennessee	18,643	115
10	Indiana	18,353	99
11	South Carolina	14,382	117
12	Hawaii	9,064	261
13	Wisconsin	8,470	114
14	Oklahoma	7,839	90
15	North Dakota	5,999	-
16	Virginia	5,712	139
17	South Dakota	5,304	100
18	Montana	2,234	101
19	Missouri	2,171	112
20	Maine	2,126	135
21	Delaware	1,928	131
22	District Of Columbia	1,392	161
23	Oregon	1,163	145
24	Nebraska	864	99
25	Rhode Island	-301	140
26	Iowa	-1,962	101
27	Vermont	-2,309	-
28	Wyoming	-2,399	95
29	Kansas	-2,892	113
30	Connecticut	-3,492	141
31	Idaho	-3,969	102
32	West Virginia	-4,223	101
33	Alabama	-4,232	108
34	New Mexico	-4,415	114
35	Alaska	-4,675	196
36	New Hampshire	-5,277	135
37	Utah	-5,738	122
38	Arkansas	-7,236	97
39	Minnesota	-8,502	121
40	Ohio	-9,137	103
41	Kentucky	-9,925	109
42	Mississippi	-11,806	117
43	Maryland	-15,364	148
44	Pennsylvania	-16,932	128
45	New Jersey	-26,016	152
46	Massachusetts	-26,250	155
47	Louisiana	-27,696	122
48	Michigan	-32,640	118
49	Illinois	-37,860	126
50	California	-65,077	178
51	New York	-86,330	174

RentCafe Self Storage analysis of Yardi Matrix data.
The symbol "-" represents no data.

Texas and North Carolina saw the largest net renter gains — and developers in both states seemed to have anticipated the surge in demand. In these two states, both local housing and self storage inventories have expanded more than anywhere else in the country over the past two decades, keeping pace with rising demand.

The most affordable self storage market is Oklahoma, where average rents dropped to $90 in January 2025, a 0.5% decrease from the previous year.

On the other end, Hawaii stands out with the highest rates, averaging $261 per month—an increase of nearly 1% year-over-year. A rapidly expanding renter pool, driven by a net gain of 9,000 new renters, is fueling demand for both housing and storage. However, limited self storage supply leaves the state underserved for space. Adding to the squeeze, Honolulu has the smallest average apartment size in the country (610 sq. ft.) and one of the slowest multifamily housing growth rates (just 17% from 2003 to 2025), making the market more competitive than ever.

Here’s a look at self storage trends in the 10 states where more renters are moving in than moving out.

1. Texas

Net renter gains from interstate migration: 96,200
Self storage street rate: $117/month
Self storage space per capita: 11.3 sq. ft.

Texas saw almost 342,000 renters migrating into the state and 245,426 moving out. That’s a net gain of 96,278 renters who can enjoy a self storage market that’s both affordable and well-supplied. Texas has over 11 square feet of self storage per capita and an average rate of $117.

Not that Texas would be short stocked on multifamily housing. The state is actually leading the nation in this regard, as 15 of its cities stand out as some of the top performers in new construction from 2005 to 2023.

For instance, Frisco expanded its multifamily stock by a whopping 1,242% and its self storage inventory by 141% — adding roughly 1.7 million square feet. Currently, storage units in Frisco rent for around $155 per month. A similar trend can be seen in McKinney, where units rent for about $144 per month, and in The Woodlands, where the average storage rate is $194.

2. North Carolina

Net renter gains from interstate migration: 70,800
Self storage street rate: $113/month
Self storage space per capita: 10.2 sq. ft.

North Carolina experienced a net gain of nearly 71,000 renters in 2023, and its self storage market seems well-positioned to meet the increased demand. Its supply averages over 10 square feet per capita, with an average rent of $113, well below the national average of $134.

North Carolina excels in new multifamily housing construction, second only to Texas. Charlotte, the state’s capital, saw a 245% increase in its housing stock and a 96% expansion in self storage inventory. Meanwhile, Cary and Durham are among North Carolina’s top performers in both new housing and self storage development. This growth is reflected in self storage rates across these cities, with average monthly costs at $138 in Charlotte, $116 in Cary and $104 in Durham.

3. Colorado

Net renter gains from interstate migration: 34,900
Self storage street rate: $131/month
Self storage space per capita: 8.5 sq. ft.

Colorado’s renter population grew by nearly 35,000 in 2023 — a surge that’s driving demand not just for housing, but for extra space, too. With the state’s already tight rental market and limited multifamily development outside the Denver core, renters often face tough trade-offs between space and location.

Fortunately, the state’s self storage market is keeping up, offering around 8.5 square feet of storage per person. With average street rates at $131 as of January 2025, renters have relatively easy access to convenient and flexible Colorado self storage options to help ease the transition into a new home.

4. Georgia

Net renter gains from interstate migration: 33,000
Self storage street rate: $118/month
Self storage space per capita: 9.7 sq. ft.

Georgia welcomed nearly 33,000 new renters recently — and with that kind of growth, it’s no surprise that demand for both housing and storage is on the rise. Luckily, the self storage scene here is keeping up. The state offers nearly 10 square feet of storage per person, and with average rates around $118 — down 5% from last year — it’s one of the more affordable options among the top 15 states. Plus, with Atlanta growing its multifamily stock by 177%, there’s plenty of room for new renters to settle in, with Atlanta storage units ready to help ease the transition.

5. Washington

Net renter gains from interstate migration: 25,500
Self storage street rate: $155/month
Self storage space per capita: 8.4 sq. ft.

Washington saw a net increase of over 25,000 renters — a shift that’s likely to further support self storage demand. Despite an above-average supply of 8.4 square feet per capita, the state’s average street rate remains relatively high at $155.

Among the top migration hotspots, Washington is the only state to record a year-over-year rate increase — even if modest at 0.4%. This trend aligns with local housing challenges: many cities across the state are undersupplied with multifamily units, while others offer smaller apartments that may drive renters to seek additional space. For instance, Seattle has some of the smallest apartments in the U.S., averaging just 669 square feet.

6. Arizona

Net renter gains from interstate migration: 21,200
Self storage street rate: $122/month
Self storage space per capita: 8.9 sq. ft.

Arizona realized a net gain of over 21,000 renters and benefits from a well-supplied self storage market. As of January, the state offers nearly 9 square feet of storage per capita, keeping the average street rate at $122 – well below the national average. This friendly self storage market aligns with the growing demand for extra space, fueled by intense multifamily development. With the state’s rapidly expanding multifamily housing stock, particularly in Gilbert, Avondale and Surprise, moving activity is picking up steam—driving self storage demand along with it.

7. Nevada

Net renter gains from interstate migration: 20,500
Self storage street rate: $129/month
Self storage space per capita: 11.5 sq. ft.

Nevada saw a net gain of 21,000 new renters, and they’re stepping into a generally renter-friendly self storage market — with 11.5 square feet of space per capita and average street rates around $122. In the state’s fastest-growing areas, Henderson has expanded its multifamily inventory by nearly 300%, while North Las Vegas has grown its stock by close to 250%. With that level of residential growth, self storage availability is well-positioned to support new residents who need a little extra space.

8. Florida

Net renter gains from interstate migration: 18,900
Self storage street rate: $140/month
Self storage space per capita: 9.4 sq. ft.

Florida had the second-highest number of renters moving in — 262,416 — but also saw the largest number moving out, with 243,530 departures. That leaves the state with a modest net gain of just under 19,000 renters. Despite an above-average self storage supply of 9.4 square feet per capita, demand remains high. Average street rates sit at $140 — slightly above the national average — likely due to the constant churn from population turnover.

Certain cities are helping shape this trend. For instance, Miami Gardens has significantly expanded its multifamily housing stock, while other places, like Miami Beach, offer some of the smallest apartments in the country, averaging just 692 square feet. As new developments bring in fresh waves of residents — and limited space continues to be a challenge — self storage becomes a practical solution. Together, these factors are helping to drive continued demand for self storage across Florida.

9. Tennessee

Net renter gains from interstate migration: 18,600
Self storage street rate: $115/month
Self storage space per capita: 9.8 sq. ft.

Tennessee saw a net gain of 18,643 renters. The state offers an above-average self storage supply, with 9.4 square feet per capita, helping keep rates affordable at around $115. This makes the self storage market especially welcoming to new residents — many of whom may need extra space as they settle into apartment living. For example, Memphis has grown its multifamily stock by 27% between 2005 and 2023, reflecting steady housing development that often goes hand in hand with increased demand for storage.

10. Indiana

Net renter gains from interstate migration: 18,400
Self storage street rate: $99/month
Self storage space per capita: 8.2 sq. ft.

Indiana experienced a net gain of 18,353 renters — and they’re entering one of the most renter-friendly self storage markets among the top migration hotspots. The state offers an above-average supply of 8.2 square feet per capita, with average rates hovering around $99. That’s a major advantage for renters, especially in cities like Hammond, where apartments are among the smallest in the country, averaging just 706 square feet. With limited in-unit space, affordable self storage can be a helpful extension of home for many new residents.

Here is the full list of states ranked by net renter gains, along with essential data on how the self storage market stacks up in each case.

Self storage plays a big role in helping renters settle into new homes. The good news? Most of the top migration hotspots offer below-average storage costs, making the transition a bit easier for those on the move — especially when their new apartments are on the smaller side. States like Oklahoma, Indiana and Georgia stand out for their affordability, while places like Texas and North Carolina have done their homework by expanding both housing and storage supply.

On the flip side, markets with tight storage availability — like D.C. and Hawaii — are feeling the pressure, with rising rents making storage a costly add-on for new arrivals. As migration trends continue to shift, self storage will remain a key part of the equation in determining just how renter-friendly a state really is.

Methodology

This analysis was conducted by RentCafe, an online platform offering nationwide listings for apartments and storage units.

This report ranks all U.S. states, along with the District of Columbia, based on net renter migration — determined by subtracting the number of renters leaving each location from the number moving in.

Housing stock data is sourced from the American Community Survey’s one-year estimates, except for 2020, which relies on the five-year survey’s figures on housing construction and inventory growth.

Data on self storage comes from Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self storage sectors.

Fair use and distribution

This study serves as a resource for the general public on issues of common interest and should not be regarded as investment advice. The data is true to the best of our knowledge but may change if amendments to it are made. We agree to the distribution of this content, but we do require a mention in return for attribution purposes.