Key Takeaways
- • A StorageCafe analysis of Yardi Matrix data finds self-storage development is shifting toward suburban markets in several of the nation's fastest-growing metropolitan areas.
- • Twenty metros where urban projects dominated self-storage construction over the past decade now have predominantly suburban development pipelines.
- • Fifteen metros are moving in the opposite direction, toward urban self-storage development.
- • Metros shifting toward suburban development recorded median population growth of 13 percent from 2014 to 2024, versus 5 percent in metros shifting toward urban development.
- • In Orlando, the urban share of self-storage deliveries is expected to fall from 57 percent over the past decade to 39 percent.
Summary
Self-storage development is moving toward suburban markets in several of the nation's fastest-growing metropolitan areas, according to a new analysis by StorageCafe of Yardi Matrix data, as reported by Institutional Real Estate, Inc.
The study identifies 20 metropolitan areas where urban development accounted for most self-storage construction during the past decade but where development pipelines are now predominantly suburban. A separate group of 15 metros is shifting in the opposite direction, toward urban development.
Population growth distinguishes the two groups. Metros shifting toward suburban development recorded median population growth of 13 percent between 2014 and 2024, compared with 5 percent among metros shifting toward urban development. The pattern suggests that suburban self-storage demand is tracking household growth in the fastest-expanding areas.
Orlando illustrates the trend. The urban share of self-storage deliveries there is expected to decline from 57 percent over the past decade to 39 percent. The source article's coverage of the remaining metros was truncated, so additional market-level detail is not available.
The study identifies 20 metropolitan areas where urban development accounted for most self-storage construction during the past decade but where development pipelines are now predominantly suburban. A separate group of 15 metros is shifting in the opposite direction, toward urban development.
Population growth distinguishes the two groups. Metros shifting toward suburban development recorded median population growth of 13 percent between 2014 and 2024, compared with 5 percent among metros shifting toward urban development. The pattern suggests that suburban self-storage demand is tracking household growth in the fastest-expanding areas.
Orlando illustrates the trend. The urban share of self-storage deliveries there is expected to decline from 57 percent over the past decade to 39 percent. The source article's coverage of the remaining metros was truncated, so additional market-level detail is not available.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.