Houston Self Storage Report

Houston added roughly 365,000 sq. ft. of self-storage space in 2023.

Compared to other big cities, Houston’s low cost of living, decent housing prices, and abundant job opportunities have made the city a go-to destination for those seeking a new place to call home. The constantly growing population is one of the main factors driving people to seek storage space away from home and a major incentive for developers to intensify construction activity.

In fact, Houston added roughly 365,000 sq. ft. of self-storage space in 2023.

Below, I’ve extracted a few takeaways about the Houston storage market from our latest self-storage report:

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• Houston ranked fifth for self storage construction by volume among the 150 largest cities, beating other Texas cities such as Fort Worth and Lubbock, with San Antonio being the sole exception.
• A total of 365,371 rentable square feet of self storage space was delivered in 2023. Meanwhile, Lubbock saw the addition of around 259,000 sq. ft. of space, while Fort Worth kept up with new supply, hitting 248,000 sq. ft. last year.
• In a trend visible across the country, rents have been decreasing in Houston. Street rates dropped by 2.3% year-over-year, primarily due to the generous supply that hit the market.
• A storage unit in Houston calls for $119 per month, considerably below the national average of $135.

Please find our full report here: https://www.rentcafe.com/blog/self-storage/self-storage-monthly-report/.