{"id":137617,"date":"2024-10-16T00:00:24","date_gmt":"2024-10-16T07:00:24","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=137617"},"modified":"2025-05-16T05:29:02","modified_gmt":"2025-05-16T12:29:02","slug":"self-storage-report-october-2024","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/self-storage\/self-storage-report-october-2024\/","title":{"rendered":"Southern Cities Continue to Dominate Self Storage Price Drops\u00a0\u00a0  \u00a0"},"content":{"rendered":"<ul>\n<li><em>As of September 2024, self storage rental rates have fallen by 2.9% year-over-year, bringing the average unit rent to $134.<\/em><\/li>\n<li><em>The South claims the top three spots for self storage price drops in September 2024, with Port St. Lucie, Florida, coming in first.<\/em><\/li>\n<li><em>Sunbelt cities like Tampa, Florida, and Atlanta, Georgia, are also seeing significant rent decreases.<\/em><\/li>\n<li><em>In the mid-Atlantic, Jersey City, New Jersey, has surged to the forefront, eclipsing the Midwest with the most remarkable year-over-year growth in storage costs.<\/em><\/li>\n<li><em>Self storage construction is expected to carry on in over half of the 150 largest cities, with Texas cities stealing the spotlight for forecasted construction.<\/em><\/li>\n<\/ul>\n<p>The self storage market\u2019s downward price trend persists, with national rental rates plummeting 2.9% year-over-year and 4.3% per square foot as of September 2024. The average monthly unit price now stands at $134. This slide continues month-over-month, with rates dropping another 0.7%.<\/p>\n<p><iframe id=\"datawrapper-chart-Hcz7P\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Monthly Changes in Average Self Storage Street Rates\" src=\"https:\/\/datawrapper.dwcdn.net\/Hcz7P\/3\/\" height=\"485\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();<\/script><\/p>\n<p>As autumn arrived, the housing market was navigating a delicate balance between consumer demand and rising costs. As a result, the trend of decreasing affordability is prompting a shift toward providing more space options as living areas become pricier.<\/p>\n<p>More than half of the 150 largest U.S. cities are poised to increase their self storage inventory, adding approximately 12 million square feet of storage space, down 17% year-over-year.<\/p>\n<h2>Southern cities lead in self storage rate drops<\/h2>\n<p><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/port-st-lucie\/\" target=\"_blank\" rel=\"noopener\">Port St. Lucie, FL<\/a>, continues to experience the steepest rent drops in the U.S. Year-over-year, rents have maintained a double-digit downward trend, falling 17% compared to the previous year. However, the pace of decline has slowed, with per-square-foot rates dropping 2.8% over the past month to settle at $123. Despite robust population growth \u2014 up 17% over the past five years \u2014 the elevated housing inventory growth in Port St. Lucie helps alleviate some of the market pressure, often leading to lower demand for self storage. Port St. Lucie saw its <a href=\"https:\/\/www.storagecafe.com\/blog\/housing-inventory-in-the-us\/\" target=\"_blank\" rel=\"noopener\">housing stock increase<\/a> by 78% from 2005 to 2023, the seventh-fastest growth rate in the country.<\/p>\n<p><iframe id=\"datawrapper-chart-UQUUZ\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Top 10 Cities With Steepest Street Rate Drops\" src=\"https:\/\/datawrapper.dwcdn.net\/UQUUZ\/1\/\" height=\"691\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The second spot stays in the South. <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/fayetteville\/\" target=\"_blank\" rel=\"noopener\">Storage units in Fayetteville, NC<\/a>, now go for $113 per month on average, down 9.9% year-over-year, with a month-over-month drop of 3.4%. The local market is characterized by an abundant supply, with a storage capacity of 12.1 square feet per capita \u2014 nearly double the national average. This oversupply has contributed to declining rent prices, as the market remains well-stocked and new construction continues. In fact, the city is set to expand its storage inventory by an additional 244,000 square feet in 2024.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tn\/chattanooga\/\" target=\"_blank\" rel=\"noopener\">Chattanooga, Tennessee<\/a>, completes the southern trifecta with a decline in storage rental rates. In September 2024, the city witnessed an 8.7% drop, bringing monthly rates down to $97\u2014 an 8.7% decrease from the previous year. With rents at $0.80 per square foot, Chattanooga\u2019s well-stocked market boasts 8.1 square feet per capita. Consequently, the city planned to add a modest 39K square feet of new storage space in 2024.<\/p>\n<p>Meanwhile, in the Sunbelt region, Tampa, Florida, and Atlanta, Georgia, are charting similar courses, albeit with distinct differences. Both cities have seen rental rates decrease, with Tampa experiencing a 7.6% drop and Atlanta a 7.4% decline.<\/p>\n<p>Tampa\u2019s supply situation is more aligned with national benchmarks, offering 6.9 square feet per capita.<\/p>\n<p>Atlanta lags behind with only 4.5 square feet per capita, creating a pressing need for expansion.<\/p>\n<p>San Antonio, Texas, is also experiencing a decline in rental rates with the city seeing a 6.8% annual drop in rates. Currently, the average monthly rental rate for <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/bexar-county\/san-antonio\/\" target=\"_blank\" rel=\"noopener\">storage in San Antonio<\/a> stands at $124, with a cost of $1 per square foot. Despite having a well-supplied market with nine square feet per capita, San Antonio is continuing to expand its storage capacity. The city plans to add a substantial 828K square feet of new inventory in the upcoming year.<\/p>\n<h2>Self storage price increases: A tale of two coasts<\/h2>\n<p>In the mid-Atlantic, <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nj\/jersey-city\/\" target=\"_blank\" rel=\"noopener\">Jersey City, New Jersey<\/a>, has surged to the forefront of price increases, eclipsing the Midwest with the most remarkable year-over-year growth in storage costs. The city\u2019s acute shortage of storage space of just 1.3 square feet per capita has driven prices upward, as demand far outstrips supply. As a result, rental rates have climbed to an average of $199 per month, marking a 6.6% increase from the previous year. No new deliveries were scheduled for 2024.<\/p>\n<p><iframe id=\"datawrapper-chart-SHocM\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Top 10 Cities for Street Rate Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/SHocM\/1\/\" height=\"761\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/va\/arlington\/\" target=\"_blank\" rel=\"noopener\">Arlington, Virginia<\/a>, has vaulted onto the podium as a top contender in the mid-Atlantic self storage scene, landing in second position. Here, prices are soaring 5.9% over the past year. This leap brings the average monthly cost to $256, a 5% increase from last year. With a meager supply of just 1.2 square feet per capita, prices have risen due to persistent demand.<\/p>\n<p>On the West Coast, California dominates the next three spots, with Oceanside securing third place, followed closely by <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/huntington-beach\/\" target=\"_blank\" rel=\"noopener\">Huntington Beach<\/a> and <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/san-francisco\/\" target=\"_blank\" rel=\"noopener\">San Francisco<\/a>. <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/oceanside\/\" target=\"_blank\" rel=\"noopener\">Oceanside\u2019s self storage<\/a> prices have risen by 5.1%, resulting in a street rate of $181.<\/p>\n<p>Meanwhile, Brownsville, Texas, rounds out the top 10, with storage rents increasing by 2.3% compared to the previous year. This brings the average price for a <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/cameron-county\/brownsville\/\" target=\"_blank\" rel=\"noopener\">storage unit in Brownsville<\/a> to $109.<\/p>\n<h2>Texas leads the charge in self storage construction<\/h2>\n<p>The South is solidifying its lead in self storage construction, with Texas at the forefront. In 2024, the state was poised for a surge in development. San Antonio took the lead, with plans to add nearly 828K square feet of storage space in 2024. However, the city\u2019s rental rates are trending downward, and the existing inventory surplus may lead to a slowdown in future development.<\/p>\n<h2 id=\"tablepress-550-name\" class=\"tablepress-table-name tablepress-table-name-id-550\">Top Cities for 2024 Expected Construction<\/h2>\n\n<table id=\"tablepress-550\" class=\"tablepress tablepress-id-550\" aria-labelledby=\"tablepress-550-name\" aria-describedby=\"tablepress-550-description\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">#<\/th><th class=\"column-2\">City<\/th><th class=\"column-3\">2024 Projected New Supply (sq. ft.)<\/th><th class=\"column-4\">2024 New Supply as % of Inventory<\/th><th class=\"column-5\">Current Sq. Ft. per Capita<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/san-antonio\/\" target=\"_blank\" rel=\"noopener\">San Antonio, TX<\/a><\/td><td class=\"column-3\">828,308<\/td><td class=\"column-4\">5%<\/td><td class=\"column-5\">9.0<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/houston\/\" target=\"_blank\" rel=\"noopener\">Houston, TX<\/a><\/td><td class=\"column-3\">732,006<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">6.8<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/fort-worth\/\" target=\"_blank\" rel=\"noopener\">Fort Worth, TX<\/a><\/td><td class=\"column-3\">559,500<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">6.2<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/orlando\/\" target=\"_blank\" rel=\"noopener\">Orlando, FL<\/a><\/td><td class=\"column-3\">537,768<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">7.1<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/tucson\/\" target=\"_blank\" rel=\"noopener\">Tucson, AZ<\/a><\/td><td class=\"column-3\">431,400<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">8.6<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noopener\">Philadelphia, PA<\/a><\/td><td class=\"column-3\">423,493<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">3.3<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/jacksonville\/\" target=\"_blank\" rel=\"noopener\">Jacksonville, FL<\/a><\/td><td class=\"column-3\">389,803<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">9.5<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/phoenix\/\" target=\"_blank\" rel=\"noopener\">Phoenix, AZ<\/a><\/td><td class=\"column-3\">384,944<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">5.5<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nv\/las-vegas\/\" target=\"_blank\" rel=\"noopener\">Las Vegas, NV<\/a><\/td><td class=\"column-3\">372,401<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">7.5<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">10<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/al\/huntsville\/\" target=\"_blank\" rel=\"noopener\">Huntsville, AL<\/a><\/td><td class=\"column-3\">363,657<\/td><td class=\"column-4\">13%<\/td><td class=\"column-5\">10.9<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">11<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nv\/reno\/\" target=\"_blank\" rel=\"noopener\">Reno, NV<\/a><\/td><td class=\"column-3\">329,742<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">14.5<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">12<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/san-diego\/\" target=\"_blank\" rel=\"noopener\">San Diego, CA<\/a><\/td><td class=\"column-3\">289,027<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">4.1<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">13<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/wa\/seattle\/\" target=\"_blank\" rel=\"noopener\">Seattle, WA<\/a><\/td><td class=\"column-3\">264,595<\/td><td class=\"column-4\">7%<\/td><td class=\"column-5\">4.0<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">14<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ar\/little-rock\/\" target=\"_blank\" rel=\"noopener\">Little Rock, AR<\/a><\/td><td class=\"column-3\">263,738<\/td><td class=\"column-4\">8%<\/td><td class=\"column-5\">12.5<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">15<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/corpus-christi\/\" target=\"_blank\" rel=\"noopener\">Corpus Christi, TX<\/a><\/td><td class=\"column-3\">245,333<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">12.3<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">16<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/fayetteville\/\" target=\"_blank\" rel=\"noopener\">Fayetteville, NC<\/a><\/td><td class=\"column-3\">244,950<\/td><td class=\"column-4\">8%<\/td><td class=\"column-5\">12.0<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">17<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ok\/oklahoma-city\/\" target=\"_blank\" rel=\"noopener\">Oklahoma City, OK<\/a><\/td><td class=\"column-3\">227,979<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">8.4<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">18<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/greensboro\/\" target=\"_blank\" rel=\"noopener\">Greensboro, NC<\/a><\/td><td class=\"column-3\">226,132<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">10.9<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">19<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/mckinney\/\" target=\"_blank\" rel=\"noopener\">McKinney, TX<\/a><\/td><td class=\"column-3\">215,568<\/td><td class=\"column-4\">7%<\/td><td class=\"column-5\">8.3<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">20<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ga\/atlanta\/\" target=\"_blank\" rel=\"noopener\">Atlanta, GA<\/a><\/td><td class=\"column-3\">207,891<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">4.5<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">21<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/garland\/\" target=\"_blank\" rel=\"noopener\">Garland, TX<\/a><\/td><td class=\"column-3\">194,996<\/td><td class=\"column-4\">9%<\/td><td class=\"column-5\">3.8<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">22<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/austin\/\" target=\"_blank\" rel=\"noopener\">Austin, TX<\/a><\/td><td class=\"column-3\">191,277<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">8.0<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">23<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/la\/baton-rouge\/\" target=\"_blank\" rel=\"noopener\">Baton Rouge, LA<\/a><\/td><td class=\"column-3\">184,582<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">11.0<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">24<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/miami\/\" target=\"_blank\" rel=\"noopener\">Miami, FL<\/a><\/td><td class=\"column-3\">175,889<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">3.8<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">25<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/lubbock\/\" target=\"_blank\" rel=\"noopener\">Lubbock, TX<\/a><\/td><td class=\"column-3\">175,477<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">16.6<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">26<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/los-angeles\/\" target=\"_blank\" rel=\"noopener\">Los Angeles, CA<\/a><\/td><td class=\"column-3\">169,977<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">1.8<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">27<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nj\/newark\/\" target=\"_blank\" rel=\"noopener\">Newark, NJ<\/a><\/td><td class=\"column-3\">169,296<\/td><td class=\"column-4\">21%<\/td><td class=\"column-5\">0.9<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">28<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/al\/mobile\/\" target=\"_blank\" rel=\"noopener\">Mobile, AL<\/a><\/td><td class=\"column-3\">160,200<\/td><td class=\"column-4\">5%<\/td><td class=\"column-5\">10.9<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">29<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nm\/albuquerque\/\" target=\"_blank\" rel=\"noopener\">Albuquerque, NM<\/a><\/td><td class=\"column-3\">159,823<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">7.7<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">30<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ny\/yonkers\/\" target=\"_blank\" rel=\"noopener\">Yonkers, NY<\/a><\/td><td class=\"column-3\">151,785<\/td><td class=\"column-4\">15%<\/td><td class=\"column-5\">2.0<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">31<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nv\/henderson\/\" target=\"_blank\" rel=\"noopener\">Henderson, NV<\/a><\/td><td class=\"column-3\">150,565<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">6.5<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">32<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tn\/memphis\/\" target=\"_blank\" rel=\"noopener\">Memphis, TN<\/a><\/td><td class=\"column-3\">149,809<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">8.1<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">33<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/anaheim\/\" target=\"_blank\" rel=\"noopener\">Anaheim, CA<\/a><\/td><td class=\"column-3\">147,390<\/td><td class=\"column-4\">9%<\/td><td class=\"column-5\">1.6<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">34<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tn\/nashville\/\" target=\"_blank\" rel=\"noopener\">Nashville, TN<\/a><\/td><td class=\"column-3\">145,467<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">6.6<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">35<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/oh\/cincinnati\/\" target=\"_blank\" rel=\"noopener\">Cincinnati, OH<\/a><\/td><td class=\"column-3\">142,486<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">4.0<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">36<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/in\/indianapolis\/\" target=\"_blank\" rel=\"noopener\">Indianapolis, IN<\/a><\/td><td class=\"column-3\">134,289<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">6.9<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">37<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/oh\/cleveland\/\" target=\"_blank\" rel=\"noopener\">Cleveland, OH<\/a><\/td><td class=\"column-3\">131,305<\/td><td class=\"column-4\">7%<\/td><td class=\"column-5\">2.3<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">38<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/el-paso\/\" target=\"_blank\" rel=\"noopener\">El Paso, TX<\/a><\/td><td class=\"column-3\">125,753<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">6.1<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">39<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/chandler\/\" target=\"_blank\" rel=\"noopener\">Chandler, AZ<\/a><\/td><td class=\"column-3\">124,109<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">4.5<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">40<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/san-bernardino\/\" target=\"_blank\" rel=\"noopener\">San Bernardino, CA<\/a><\/td><td class=\"column-3\">122,173<\/td><td class=\"column-4\">8%<\/td><td class=\"column-5\">3.4<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">41<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/dallas\/\" target=\"_blank\" rel=\"noopener\">Dallas, TX<\/a><\/td><td class=\"column-3\">119,443<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">5.2<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">42<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/al\/birmingham\/\" target=\"_blank\" rel=\"noopener\">Birmingham, AL<\/a><\/td><td class=\"column-3\">118,199<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">7.3<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">43<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/san-jose\/\" target=\"_blank\" rel=\"noopener\">San Jose, CA<\/a><\/td><td class=\"column-3\">114,384<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">3.9<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">44<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/durham\/\" target=\"_blank\" rel=\"noopener\">Durham, NC<\/a><\/td><td class=\"column-3\">114,000<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">9.0<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">45<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/tallahassee\/\" target=\"_blank\" rel=\"noopener\">Tallahassee, FL<\/a><\/td><td class=\"column-3\">109,311<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">10.9<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">46<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/santa-clarita\/\" target=\"_blank\" rel=\"noopener\">Santa Clarita, CA<\/a><\/td><td class=\"column-3\">108,159<\/td><td class=\"column-4\">11%<\/td><td class=\"column-5\">4.4<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">47<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/in\/fort-wayne\/\" target=\"_blank\" rel=\"noopener\">Fort Wayne, IN<\/a><\/td><td class=\"column-3\">107,945<\/td><td class=\"column-4\">5%<\/td><td class=\"column-5\">7.0<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">48<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ky\/louisville\/\" target=\"_blank\" rel=\"noopener\">Louisville, KY<\/a><\/td><td class=\"column-3\">102,550<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">7.6<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">49<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/arlington\/\" target=\"_blank\" rel=\"noopener\">Arlington, TX<\/a><\/td><td class=\"column-3\">101,250<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">5.8<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">50<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ny\/rochester\/\" target=\"_blank\" rel=\"noopener\">Rochester, NY<\/a><\/td><td class=\"column-3\">100,415<\/td><td class=\"column-4\">6%<\/td><td class=\"column-5\">3.5<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">51<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/peoria\/\" target=\"_blank\" rel=\"noopener\">Peoria, AZ<\/a><\/td><td class=\"column-3\">95,067<\/td><td class=\"column-4\">5%<\/td><td class=\"column-5\">4.3<\/td>\n<\/tr>\n<tr class=\"row-53\">\n\t<td class=\"column-1\">52<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/va\/richmond\/\" target=\"_blank\" rel=\"noopener\">Richmond, VA<\/a><\/td><td class=\"column-3\">93,951<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">5.8<\/td>\n<\/tr>\n<tr class=\"row-54\">\n\t<td class=\"column-1\">53<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/wa\/vancouver\/\" target=\"_blank\" rel=\"noopener\">Vancouver, WA<\/a><\/td><td class=\"column-3\">92,670<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">8.2<\/td>\n<\/tr>\n<tr class=\"row-55\">\n\t<td class=\"column-1\">54<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/hi\/honolulu\/\" target=\"_blank\" rel=\"noopener\">Honolulu, HI<\/a><\/td><td class=\"column-3\">91,190<\/td><td class=\"column-4\">7%<\/td><td class=\"column-5\">3.2<\/td>\n<\/tr>\n<tr class=\"row-56\">\n\t<td class=\"column-1\">55<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/co\/colorado-springs\/\" target=\"_blank\" rel=\"noopener\">Colorado Springs, CO<\/a><\/td><td class=\"column-3\">90,567<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">11.0<\/td>\n<\/tr>\n<tr class=\"row-57\">\n\t<td class=\"column-1\">56<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ga\/augusta\/\" target=\"_blank\" rel=\"noopener\">Augusta, GA<\/a><\/td><td class=\"column-3\">87,851<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">9.4<\/td>\n<\/tr>\n<tr class=\"row-58\">\n\t<td class=\"column-1\">57<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/mesa\/\" target=\"_blank\" rel=\"noopener\">Mesa, AZ<\/a><\/td><td class=\"column-3\">87,403<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">5.8<\/td>\n<\/tr>\n<tr class=\"row-59\">\n\t<td class=\"column-1\">58<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/wi\/milwaukee\/\" target=\"_blank\" rel=\"noopener\">Milwaukee, WI<\/a><\/td><td class=\"column-3\">86,946<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">3.7<\/td>\n<\/tr>\n<tr class=\"row-60\">\n\t<td class=\"column-1\">59<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/charlotte\/\" target=\"_blank\" rel=\"noopener\">Charlotte, NC<\/a><\/td><td class=\"column-3\">85,387<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">7.1<\/td>\n<\/tr>\n<tr class=\"row-61\">\n\t<td class=\"column-1\">60<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/hialeah\/\" target=\"_blank\" rel=\"noopener\">Hialeah, FL<\/a><\/td><td class=\"column-3\">85,106<\/td><td class=\"column-4\">8%<\/td><td class=\"column-5\">2.1<\/td>\n<\/tr>\n<tr class=\"row-62\">\n\t<td class=\"column-1\">61<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/stockton\/\" target=\"_blank\" rel=\"noopener\">Stockton, CA<\/a><\/td><td class=\"column-3\">81,600<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">6.5<\/td>\n<\/tr>\n<tr class=\"row-63\">\n\t<td class=\"column-1\">62<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nv\/north-las-vegas\/\" target=\"_blank\" rel=\"noopener\">North Las Vegas, NV<\/a><\/td><td class=\"column-3\">78,000<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">4.5<\/td>\n<\/tr>\n<tr class=\"row-64\">\n\t<td class=\"column-1\">63<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/mn\/minneapolis\/\" target=\"_blank\" rel=\"noopener\">Minneapolis, MN<\/a><\/td><td class=\"column-3\">77,595<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">2.0<\/td>\n<\/tr>\n<tr class=\"row-65\">\n\t<td class=\"column-1\">64<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/il\/chicago\/\" target=\"_blank\" rel=\"noopener\">Chicago, IL<\/a><\/td><td class=\"column-3\">77,216<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">3.3<\/td>\n<\/tr>\n<tr class=\"row-66\">\n\t<td class=\"column-1\">65<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/md\/baltimore\/\" target=\"_blank\" rel=\"noopener\">Baltimore, MD<\/a><\/td><td class=\"column-3\">77,130<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">3.8<\/td>\n<\/tr>\n<tr class=\"row-67\">\n\t<td class=\"column-1\">66<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/oh\/akron\/\" target=\"_blank\" rel=\"noopener\">Akron, OH<\/a><\/td><td class=\"column-3\">75,455<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">4.9<\/td>\n<\/tr>\n<tr class=\"row-68\">\n\t<td class=\"column-1\">67<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/pa\/pittsburgh\/\" target=\"_blank\" rel=\"noopener\">Pittsburgh, PA<\/a><\/td><td class=\"column-3\">75,000<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">3.5<\/td>\n<\/tr>\n<tr class=\"row-69\">\n\t<td class=\"column-1\">68<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ca\/santa-rosa\/\" target=\"_blank\" rel=\"noopener\">Santa Rosa, CA<\/a><\/td><td class=\"column-3\">73,946<\/td><td class=\"column-4\">4%<\/td><td class=\"column-5\">7.9<\/td>\n<\/tr>\n<tr class=\"row-70\">\n\t<td class=\"column-1\">69<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/oh\/columbus\/\" target=\"_blank\" rel=\"noopener\">Columbus, OH<\/a><\/td><td class=\"column-3\">73,657<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">4.4<\/td>\n<\/tr>\n<tr class=\"row-71\">\n\t<td class=\"column-1\">70<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/va\/newport-news\/\" target=\"_blank\" rel=\"noopener\">Newport News, VA<\/a><\/td><td class=\"column-3\">73,109<\/td><td class=\"column-4\">5%<\/td><td class=\"column-5\">6.3<\/td>\n<\/tr>\n<tr class=\"row-72\">\n\t<td class=\"column-1\">71<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/mo\/kansas-city\/\" target=\"_blank\" rel=\"noopener\">Kansas City, MO<\/a><\/td><td class=\"column-3\">72,998<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">3.7<\/td>\n<\/tr>\n<tr class=\"row-73\">\n\t<td class=\"column-1\">72<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tn\/knoxville\/\" target=\"_blank\" rel=\"noopener\">Knoxville, TN<\/a><\/td><td class=\"column-3\">71,313<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">9.7<\/td>\n<\/tr>\n<tr class=\"row-74\">\n\t<td class=\"column-1\">73<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/scottsdale\/\" target=\"_blank\" rel=\"noopener\">Scottsdale, AZ<\/a><\/td><td class=\"column-3\">64,475<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">8.2<\/td>\n<\/tr>\n<tr class=\"row-75\">\n\t<td class=\"column-1\">74<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/Tampa\/\" target=\"_blank\" rel=\"noopener\">Tampa, FL<\/a><\/td><td class=\"column-3\">63,510<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">6.9<\/td>\n<\/tr>\n<tr class=\"row-76\">\n\t<td class=\"column-1\">75<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ks\/wichita\/\" target=\"_blank\" rel=\"noopener\">Wichita, KS<\/a><\/td><td class=\"column-3\">62,951<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">6.7<\/td>\n<\/tr>\n<tr class=\"row-77\">\n\t<td class=\"column-1\">76<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/va\/virginia-beach\/\" target=\"_blank\" rel=\"noopener\">Virginia Beach, VA<\/a><\/td><td class=\"column-3\">59,424<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">10.7<\/td>\n<\/tr>\n<tr class=\"row-78\">\n\t<td class=\"column-1\">77<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/cape-coral\/\" target=\"_blank\" rel=\"noopener\">Cape Coral, FL<\/a><\/td><td class=\"column-3\">57,222<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">7.7<\/td>\n<\/tr>\n<tr class=\"row-79\">\n\t<td class=\"column-1\">78<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tn\/chattanooga\/\" target=\"_blank\" rel=\"noopener\">Chattanooga, TN<\/a><\/td><td class=\"column-3\">49,500<\/td><td class=\"column-4\">2%<\/td><td class=\"column-5\">8.1<\/td>\n<\/tr>\n<tr class=\"row-80\">\n\t<td class=\"column-1\">79<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/nc\/raleigh\/\" target=\"_blank\" rel=\"noopener\">Raleigh, NC<\/a><\/td><td class=\"column-3\">39,561<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">7.3<\/td>\n<\/tr>\n<tr class=\"row-81\">\n\t<td class=\"column-1\">80<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/mi\/detroit\/\" target=\"_blank\" rel=\"noopener\">Detroit, MI<\/a><\/td><td class=\"column-3\">35,549<\/td><td class=\"column-4\">3%<\/td><td class=\"column-5\">1.2<\/td>\n<\/tr>\n<tr class=\"row-82\">\n\t<td class=\"column-1\">81<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/ne\/lincoln\/\" target=\"_blank\" rel=\"noopener\">Lincoln, NE<\/a><\/td><td class=\"column-3\">24,415<\/td><td class=\"column-4\">1%<\/td><td class=\"column-5\">6.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<span id=\"tablepress-550-description\" class=\"tablepress-table-description tablepress-table-description-id-550\"><span style=\"font-size:90%;\"><br \/>\nRentCafe analysis of Yardi Matrix data<br \/>\n* Forecasted construction (%) for 2024 as a percentage of the total existing inventory at the end of 2023 <br><br \/>\n<\/span><\/span>\n<!-- #tablepress-550 from cache -->\n<p>In contrast, <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/houston\/\" target=\"_blank\" rel=\"noopener\">Houston<\/a> and <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/tx\/fort-worth\/\" target=\"_blank\" rel=\"noopener\">Fort Worth<\/a> are facing a different set of challenges. Both cities are experiencing population growth, with Fort Worth seeing an impressive 11% increase in residents over the past five years. This demographic shift has created a surge in demand for storage facilities, prompting increased construction activity. Houston is set to receive around 732K square feet of new storage space, while Fort Worth will see about 559K square feet.<\/p>\n<p>Beyond Texas, <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/fl\/orlando\/\" target=\"_blank\" rel=\"noopener\">Orlando<\/a>, <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/az\/tucson\/\" target=\"_blank\" rel=\"noopener\">Tucson<\/a>, and <a href=\"https:\/\/www.rentcafe.com\/storage-units\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noopener\">Philadelphia <\/a>shine as hotspots for self storage growth. Orlando\u2019s population has skyrocketed by 14% in just one year, sparking a surge in demand and prompting the addition of 537K square feet of new storage space. Tucson and Philadelphia are also ramping up, with 431K and 423K square feet planned, respectively.<\/p>\n<p>Discover the changes in self storage rental prices across the 150 largest cities.<\/p>\n<p><iframe id=\"datawrapper-chart-oNFbz\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\" Self Storage Street Rate Changes\" src=\"https:\/\/datawrapper.dwcdn.net\/oNFbz\/1\/\" height=\"1159\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();<\/script><\/p>\n<h2>Methodology<\/h2>\n<p>This analysis was done by\u202f<a href=\"https:\/\/www.rentcafe.com\/self-storage-near-me\/\" target=\"_blank\" rel=\"noopener\">RentCafe Self Storage<\/a>, an online platform that provides apartment and storage unit listings nationwide.<\/p>\n<p>This report considers self storage rents and forecasted construction for 2024 based on September 2024 data.<\/p>\n<p>The report features the 150 most populous cities that have a self storage inventory of a minimum of 10 facilities.\u202fThe self storage street rates are calculated as the weighted averages of the street rates for all storage unit sizes, non-climate-controlled and climate-controlled units included.<\/p>\n<p>For data on population changes, we turned to the U.S. Census (2017\u20132022 dataset).<\/p>\n<p>Data on self storage street rates, deliveries and 2024 forecasted construction activity came from our sister division\u202fYardi 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As of September 2024, self storage rental rates have fallen by 2.9% year-over-year, bringing the average unit rent to $134. The South claims the top three spots for self storage price drops in September 2024, with Port St. Lucie, Florida, coming in first. Sunbelt cities like Tampa, Florida, and Atlanta, Georgia, are also seeing significant&hellip;<\/p>\n","protected":false},"author":3606,"featured_media":137625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25090],"tags":[],"class_list":["post-137617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-self-storage","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Southern Cities Continue to Dominate Self Storage Price Drops\u00a0\u00a0 \u00a0 - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"Self storage rates fell 2.9% in September 2024, with Southern cities leading the decline and Texas leading in new storage construction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/self-storage\/self-storage-report-october-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Southern Cities Continue to Dominate Self Storage Price Drops\u00a0\u00a0 \u00a0\" \/>\n<meta property=\"og:description\" content=\"Self storage rates fell 2.9% in September 2024, with Southern cities leading the decline and Texas leading in new storage construction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/self-storage\/self-storage-report-october-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-16T07:00:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-16T12:29:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2025\/01\/rentcafe.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Lenta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Lenta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/self-storage\/self-storage-report-october-2024\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/self-storage\/self-storage-report-october-2024\/\",\"name\":\"Southern Cities Continue to Dominate Self Storage Price Drops\u00a0\u00a0 \u00a0 - 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