- With 34 of the nation’s 50 best-performing self storage markets, the Southern U.S. continues to dominate, bolstered by steady population growth, a favorable business climate and strong housing demand.
- Western metros are closing the gap, claiming 15 of the top 50 markets, with Mountain West markets holding the first two positions.
- Boise, ID; Coeur d’Alene, ID; and Fayetteville, AR lead the country in overall self storage performance. Each market combines high demand, operational efficiency and healthy fundamentals.
- New York, Los Angeles and Miami lead in estimated self storage asset market value. NYC tops the chart with an estimated $22.5 billion in self storage market value, followed by Los Angeles at $12.5 billion and Miami at $11 billion.
- The total estimated value of the U.S. self storage market has reached $237 billion, underscoring the sector’s growth into a cornerstone of commercial real estate.
- Napa, California, leads the nation in potential rental income per capita, with Crestview, Florida, and Carson City, Nevada, rounding out the top three.
Self storage has long been a quiet outperformer in the real estate realm—earning its reputation as a “recession-proof” asset. With a national estimated self storage asset market value of $237 billion, it has proven to be a resilient and appealing choice for investors and developers seeking steady returns and long-term growth.
As the US economy adjusts to a new post-pandemic normal – shaped by migration shifts, inflation and evolving work-from-home patterns – the industry is again demonstrating its ability to adapt. With Americans continuing to relocate, downsize and launch businesses from garages and guest rooms, demand for self storage remains robust. However, the industry is not without challenges. Tighter access to financing, along with rising construction and operating costs, is putting pressure on returns and widening the gap between underperforming and top-tier markets.
To identify the best-performing markets in the US, we created a comprehensive attractiveness index factoring in rental income potential per capita, sales volumes, inventory levels, construction activity, rent trends and marketing costs. Together, these indicators provide a well-rounded view of both current performance and long-term resilience across 213 major storage markets nationwide.
The Mountain West is staking its claim as the nation’s hottest self storage region, capturing three of the top ten market rankings and placing 15 metros in the top 50.
Meanwhile, the South dominates overall, with 34 of the top 50 markets, underlining the region’s continued demographic and economic growth.
Mountain West momentum: Self storage moves with the people to Idaho, Nevada
The Mountain West isn’t just performing—it’s peaking. Three of the nation’s top ten self storage markets, Boise City, ID, Coeur d’Alene, ID, and Reno, NV, hail from this fast-growing region. With population growth, business-friendly governance and high quality of life drawing new residents and remote workers, demand for storage is surging.
These markets combine strong rental income potential per capita with favorable construction dynamics. Boise, in particular, stands out for its balance of volume and efficiency: a large metro with leaner marketing costs and a growing user base. With estimated monthly rental income potential of $10.2 million, it ranks among the most lucrative mid-sized self storage markets in the country. Boise also belongs to an exclusive group of just 47 U.S. markets where the total value of the self storage sector exceeds $1 billion. Recent sales have averaged around $98 per net rentable square foot, further emphasizing the market’s strong positioning for profitable asset turnover.
Coeur d’Alene leads the nation in square footage per capita at close to 22 square feet, suggesting both deep demand and investor readiness. Even with a substantial supply already in place and another 100,000 square feet of new storage space in the pipeline, street rates remain stable and are even showing a slight upward trend, an indicator of healthy market absorption. Currently, a self storage unit in Coeur d’Alene rents for $105 per month. Online interest is equally robust, with search activity amounting to 54 monthly queries per 100,000 residents, placing Coeur d’Alene in the top 20% of U.S. markets in this regard.
Reno, NV, boasts a significant sale price per square foot of $188, almost double the amount compared to the two first ranking cities, and over $6.6M in sales in 2024, confirming investors’ interest for this promising market.
Self storage’s juggernaut region: Demand keeps Texas, Florida hot
With 34 of the top 50 markets located across the Southern U.S., the region continues to benefit from population inflows, favorable tax environments and robust business growth. These factors create fertile ground for self storage investment and development.
Texas remains a standout, with Houston, Corpus Christi, and Dallas–Fort Worth posting strong performance metrics. In Corpus Christi, currently the eleventh best-performing market nationally, street rates are holding steady despite a national trend toward softening prices. The city also has an inventory of nearly 15 square feet of self storage space per capita, reflecting robust local demand. Larger metros like Houston and Dallas continue to exhibit healthy fundamentals, driven by strong leasing activity and high transaction volumes.
In Florida, Jacksonville stands out with a potential monthly rental income estimated at $16.5 million, supported by a large and expanding inventory, resilient street rates and strong consumer demand. Jacksonville registers a significant 79 online searches per 10K residents for self storage related topics, underlying the deep local interest for the sector. And Jacksonville is not the only Floridian market showing huge local demand for self storage. The Cape Coral–Fort Myers metro area ranks first nationally for online interest toward the service, with an impressive 152 Google searches per 10K residents. The local demand is most likely influenced by the influx of snowbirds and digital nomads to the area, many of which prefer renting smaller apartments and supplementing their living space by renting a self storage unit.
Smaller Southern markets are also gaining traction. Metro areas such as Fayetteville- Springdale-Rogers, AR, ranking third nationally, and Daphne-Fairhope-Foley, Alabama, are attracting new residents thanks to relative affordability and proximity to growing economic centers. These markets remain far from saturation, offering significant potential for future investment and development.
Standout markets in the Pacific West
Despite regulatory headwinds and high entry costs, California markets continue to deliver on fundamentals, with significant pricing power and high market value per square foot, making them attractive to capital-rich, institutional investors focused on long-term asset appreciation.
Markets like Santa Rosa and San Luis Obispo rank among the country’s top markets for rental income per capita, driven by consistent demand from both residential and business users. Street rates are well above the national average, even though both markets are well supplied with 10 square feet and 12 square feet per capita respectively.
Albeit not among the country’s top 50 best performing markets overall, Napa, CA leads the country in rental income per capita ($17), showing just how valuable storage space can be in land-constrained, affluent markets, with the local wine industry and subsequent storage needs definitely influencing local demand.
Elsewhere in the Pacific West, the Spokane, Portland and Seattle markets provide a mix of urban demand and stable performance. The well-supplied Spokane market shows steady yet below the national average street rates, while in Seattle and Portland, monthly rates are on the pricier side. Investors’ interest in the latter two cities, however, is emphasized by the high volume of sales that occurred in the self storage sectors throughout 2024, amounting to $58M in Portland and close to $40M in Seattle.
Sparse Midwest showing among the country’s best performing markets
Only one Midwestern market cracked the top 50—Rapid City, in South Dakota, showing a healthy monthly potential rental income per capita of $10, very affordable marketing costs and a consistent local inventory of over 19 square feet per capita. Deliveries of close to 158K square feet of new space are on course for this year, answering the area’s significant population growth of almost 10% since 2020.
Many Midwestern markets, while affordable for both investors and consumers, struggle to generate the per capita income or rent growth necessary to rise into the top tier. Even large markets like Minneapolis, Indianapolis, Chicago and Cincinnati fall short in terms of per capita rental income, limiting their ability to compete with higher-performing regions across the country. Many of the major Midwestern markets have inventories under the national benchmark of seven square feet per capita, yet the street rates continue to see drops. Construction activity is rather subdued in most of the Midwest, adjusting to the area’s slower population growth rates or even population loss, in some cases. Nonetheless, investors are showing interest in specific pockets characterized by job-centric migration and college-driven demand. Notably, Indianapolis and Chicago each recorded over $40 million in self-storage sales in 2024, indicating targeted investment in these markets.
Eastern edge: High value meets high barriers
Northeast markets are often characterized by high costs, complex zoning regulations and limited development potential. For institutional investors and REITs, they may still offer long-term upside, but with a significantly different risk and return profile than fast-growing Sun Belt or Mountain metros. While under-represented in the top 50, several East Coast and Northeastern markets still carry weight in terms of market value and sales volume.
The New York metro area, for instance, leads the nation in total estimated self storage market value at a staggering $22.5 billion. Coupled with an average sale price of $303 per square foot, this underscores both the city’s limited inventory and the institutional and logistical barriers to developing new facilities – alongside consistent demand from space-constrained residents and businesses. The $253M in self storage sales throughout 2024 further emphasize that entering the local sector in NY occurs mostly through acquisitions than new construction. Still, the city has over 3M square feet of space in the pipeline for 2025.
The Boston and Philadelphia metro areas also boast some of the highest price per square foot values in the country, indicative of low supply markets that attract massive interest from institutional investors.
Top ten best performing large self storage markets
While many smaller and midsized markets are showing strong performance, particularly in terms of per capita numbers, when it comes to scale, liquidity and institutional interest, large metro areas still hold the crown.
These top ten markets, selected from the metro areas with populations over one million, demonstrate how urban density, demographic trends, and real estate economics combine to drive self storage performance at the highest level.
The overall trend, that of Southern supremacy, checks out here as well, with Texas scoring four positions in the top 10 and Florida another three. Let’s take a closer look at what’s fueling these metros.
1. Houston-The Woodlands-Sugar Land, TX
Houston tops the list with sheer scale—over 77 million square feet of inventory, $74 million in potential monthly rental income across the metro area, and a market value exceeding $7.8 billion. Despite flat rent growth over the past year, the market’s massive absorption capacity and diverse demand base, stemming from its continued population and economic growth, keep performance steady.
The metro area’s urban sprawl allows for continued development, with over 2.3M square feet of new space slated for delivery by the end of this year. Investors are also showing major interest in the local self storage sector, with 2024 sales amounting to almost $78M.
2. Jacksonville, FL
One of Florida’s most balanced storage markets, Jacksonville blends affordability and strong population growth, both indicative of robust demand. The metro area’s mix of retirees, military presence and expanding suburban footprint ensures diverse user types, from households to contractors and various businesses.
With over $16.5 million in potential rental income monthly, a large but manageable inventory amounting to over ten square feet per capita and more than 1.1 million square feet in projected 2025 deliveries, it’s a market with both scale and momentum.
3. Sacramento-Roseville-Folsom, CA
Sacramento is emerging as Northern California’s value player for self storage. With $191 per square feet market valuation, it rivals coastal metros, but without many of the regulatory burdens of the Bay Area. It also boasts $24.5 million in potential monthly rental income, with street rates above the national average.
Sacramento also captures demand from Bay Area outmigration, especially among remote workers and downsizing professionals seeking lower living costs, thus there’s still room for growth. In fact, the local sector is preparing to deliver close to 750K square feet of new self storage space this year.
4. Virginia Beach-Norfolk-Newport News, VA-NC
A dense, diversified population base with significant military and government activity ensures consistent year-round demand in the metro area, helping it rank fourth for self storage performance among the country’s large urban hotspots.
With over $17.5 million in rental income potential, an affordable acquisition cost of about $114 per square foot and healthy construction activity, Virginia Beach offers an attractive option for operators seeking under-exploited urban markets.
5. Dallas-Fort Worth-Arlington, TX
Suburban expansion, corporate relocations and logistics growth all support long-term demand for self storage in the Dallas metro area.
The market combines massive scale ($76 million in potential rental income each month, and close to 79 million square feet of inventory) with one of the highest overall market values in the country. Even with modest year-over-year rent declines, the region’s growth engine continues to run hot, with the sector registering over $34M in sales in 2024.
6. Miami-Fort Lauderdale-Pompano Beach, FL
Miami ranks sixth for self storage overall performance among the large metros and third nationally by total market value—a massive $11 billion—driven by premium pricing per square footage of $256, signaling significant interest from investors. In fact, in 2024 alone, the metro area registered an impressive $166M in sales.
Despite a slight drop in year-over-year rents, Miami’s income potential remains strong ($68 million per month), and high-end users—from small businesses to international residents—fuel demand for climate-controlled and specialty storage.
7. Austin-Round Rock-Georgetown, TX
Austin’s reputation as a tech and innovation hub has translated into explosive population growth over the past few years—and a corresponding spike in storage demand. With $21.8 million in income potential and an overall market value of over $3.1B, the Austin metro area appears attractive for investments.
The market’s square footage per capita stands at a healthy ten square feet per capita, but still leaves room for infill and suburban expansion, especially as new neighborhoods and mixed-use developments come online.
8. San Antonio-New Braunfels, TX
San Antonio’s strength lies in its affordability and volume. With $23.5 million in potential rental income, a generous inventory of close to 11 square feet per capita, reasonable marketing costs and an overall market value of $2.6 billion, it’s among the most economically efficient markets for developers and investors.
While rents are dipping slightly, following national trends, stable construction and the city’s rising population keep demand strong. This is a market where operators can still find margin, even amid national compression.
9. Tampa-St. Petersburg-Clearwater, FL
Tampa continues to shine as a Sun Belt lifestyle magnet, benefiting from a mix of retirees, remote workers and tourism-adjacent businesses that drive both short-term and long-term storage use. Thus, Tampa sees nearly $30 million in potential monthly rental income, a solid supply of close to nine square feet of space per capita, and an impressive $3.6 billion in market value. Sales in 2024 surpassed $54 million, implying heightened interest from investors.
10. Atlanta, GA
Atlanta boasts strong fundamentals in the self storage sector, with a generous local inventory of almost 9.4 square feet per capita and an overall potential rental income amounting to $50.2 million per month. The local market is raising a lot of interest from investors, as self storage sales in 2024 amounted to close to $110M.
From the Southern metros riding demographic waves to the Mountain West cities redefining peak performance, the self storage industry is evolving across America. In an economic reality where resilience is currency, the industry thrives by adapting to local market dynamics and delivering stable returns even as other sectors face uncertainty.
Take a look below at the detailed self storage performance breakdown in 213 important metro areas across the country:
What the experts are saying
For more insights into the latest trends and challenges in the self storage sectors, we turned to experts.
Ryan Gibson, co-founder, CIO and president of Spartan Investment Group 
What are the key factors currently driving growth and investor interest in the U.S. self-storage sector?
There’s a reason self-storage keeps drawing attention, especially from investors who’ve been burned by volatility in other sectors. It’s dependable.
At Spartan, we often talk about storage like a bond. The returns may not spike like multifamily in a hot market, but they don’t collapse either. It’s a cash-flow business built around one key reality: people always have stuff. And when they go through life changes — divorce, job transfers, downsizing, retirement — they need somewhere to put it. That demand persists regardless of interest rates, GDP or unemployment numbers.
From an investment standpoint, the margins are compelling. You can achieve similar rents per square foot as multifamily — but at a third of the build cost and with far lower operating overhead. It’s a no-frills asset class with a consistent demand curve, and that’s why investors continue to show up.
How do you see the self-storage industry evolving over the next few years?
In some ways, the biggest evolution is that it hasn’t evolved much at all — and that’s what makes it powerful.
Self-storage hasn’t been disrupted the way other asset classes have, though people have tried. We’ve seen hundreds of millions go into startups promising concierge pickup, on-demand returns or tech-first experiences. Most of them failed because people still want something simple: a clean, convenient unit they can access when they need it, preferably close to home and at a fair price.
But there is change happening. And I’d argue it’s coming more from the demand side than the supply side.
Millennials are now our largest customer base. That’s a big shift from five or ten years ago, when the assumption was they wouldn’t use storage at all. Turns out, they will — and in large numbers, but their expectations are different. They want easy digital bookings, responsive communication and locations that show up in searches. If your facility isn’t optimized for “storage near me” or running ads that actually convert, you’re invisible.
Technology won’t transform what storage is, but it’s already changing how it performs. Operators who master the basics — digital marketing, user-friendly websites, solid call centers — will have the edge because they’re meeting renters where they are.
The pressure on mid-sized and smaller operators is rising. Bigger players dominate search results and can afford to scale advertising spend. That’s the quiet shift happening right now, and it’s going to reshape who wins in the next cycle.
Are there operational best practices or tech features that tend to correlate with high-performing properties or markets?
The highest-performing properties we see are the ones that are ruthlessly operational. It’s less about bells and whistles and more about execution.
They’ve nailed their customer service. They follow up on leads. Their Google Reviews are strong. They understand that a good call center beats a fancy chatbot when someone’s locked out of their unit or confused about billing.
Paid search and SEO are huge differentiators. Google is today’s front door, and we’ve seen just how much visibility matters. Some REITs essentially dominate the space because of their placement and name recognition — 44% of Americans searching for storage type “public storage” into Google, even if they’re not looking for that brand specifically.
So the most successful operators aren’t necessarily those with the flashiest tech — they’re the ones who’ve mastered the basics. Clean sites, fast response times, good signage, solid digital presence and a smooth booking process.
Tom de Jong, MBA, SIOR, Executive Vice President, De Jong Self Storage Team | COLLIERS 
What are the key factors currently driving growth and investor interest in the U.S. self storage sector?
Investors have been attracted to the recession resistant nature of cash-flow in the self-storage sector. Demand from tenants comes from many sources during good times and bad and has increased steadily over the past few decades. Covid drove vibrant demand for storage space, pushing occupancies, operating incomes and investment to record levels in the 2021 – 2023 period. This spike in demand also drove record levels of self-storage development activity. 2025 and beyond will see a significant reduction in development allowing existing facilities to improve their operating performance. The current investment market is choppy but improving with the bid-ask spread narrowing as the amount of capital looking to deploy in the sector is significant and sellers’ expectations have softened to meet the market. There is a large pent-up demand to sell, particularly from merchant builders, private equity investors, syndicators and institutional capital groups holding assets longer than their initially projected hold periods.
How do you see the self storage industry evolving over the next few years?
Operators will accelerate their investments in technology, from the addition of AI chatbots, generative AI search, keyless smart locks, advanced security systems, sophisticated price modelling, 24/7 call-centers, facility automation and more. Small operators that can’t keep pace with these large investments need to focus on grassroots and local marketing efforts and higher levels of customer service to remain competitive.
Are there operational best practices or tech features that tend to correlate with high-performing properties or markets?
There is a bifurcation in the market where operators investing more heavily in technology will pull more tenants and optimize a facility’s income more effectively than those operators that invest less in operations and marketing or utilize static pricing models and outdated technology. The biggest trend has been the growing reliance on 3rd party management for those operators lacking the scale to compete with the institutional operators.
Eric Blum, BMSGRP President, Self Storage Consulting 
What are the key factors currently driving growth and investor interest in the U.S. self storage sector?
Strong fundamentals, resilience to economic shifts, good demographics, and increasing institutionalization. As the sector continues to modernize and consolidate, it remains an appealing option for both institutional investors and smaller investors alike.
How do you see the self-storage industry evolving over the next few years?
It will be used increasingly for business and e-commerce purposes, just as much as it is currently used for residential needs. You can already see some of that happening with Amazon boxes in stores. With the unmanned facilities in the correct market, you will see more use from young people and consumers.
Are there operational best practices or tech features that tend to correlate with high-performing properties or markets?
The trend has gone to unmanned sites and customers’ ability to handle everything online without speaking to someone. This is not for every market right now as older communities still want someone to talk to.
Adam Schlosser, Senior Managing Director Investments, Marcus & Millichap 
What are the key factors currently driving growth and investor interest in the U.S. self storage sector?
The self storage industry is built on change which is always constant. Life events, urbanization, upsizing/ downsizing are just a few of many demand drivers that bolster the self storage space. Investors like this sector long given the resilient cash flow, low overhead and high operating margins.
How do you see the self storage industry evolving over the next few years?
I think as the demand side of the business normalizes, you’re going to see a balancing of the front-end concession and existing customer rental increase strategies which is a relatively new way to operate a facility. When the tide turns, the operators who can recognize it first will be well positioned to reap the highest rewards.
Are there operational best practices or tech features that tend to correlate with high-performing properties or markets?
When the market becomes harder as it is today, your infill higher barrier to entry locations outperform the broader market. It all starts there as in most real estate sectors, but keeping an eye on the operation is critical today as simple as it sounds. Our tech platforms and management software have evolved leaps and bounds over this last cycle, but it can’t be left on autopilot. The market moves fast, and adjustments are required to stay ahead.
Doug Ressler, Business Intelligence Manager at Yardi Matrix
What are the key factors currently driving growth and investor interest in the U.S. self storage sector?
Investor interest in self storage is being reshaped by shifting market fundamentals. Recent data from the 2023 Census and Yardi Matrix’s February 2025 report indicate that secondary and tertiary markets, particularly in the Southern and Western U.S., are not only holding their own against primary markets but, in many cases, outperforming them in terms of economic stability and real estate fundamentals. This challenges the long-standing emphasis on large, globalized cities, which were traditionally favored for their liquidity, scale, and perceived safety.
How do you see the self storage industry evolving over the next few years?
In the wake of major disruptions, including the 2008 financial crisis, the COVID-19 pandemic, and a historic interest rate cycle, investors are rethinking where long-term value resides. Self storage, now valued at $237 billion nationally, continues to earn its reputation as a recession-resistant asset, offering consistent income and durable performance across economic cycles.
Today, the industry is adjusting to domestic migration trends, inflation, and remote work. These structural shifts are fueling steady demand in smaller, regional growth markets. As a result, the future of self storage will likely center on strategic expansion into these high-potential areas, moving beyond traditional gateway cities.
The sector’s adaptability and relatively low operating costs remain key advantages, positioning it for sustained growth in a more decentralized real estate environment.
Marc Goodin, CEO of Storage Authority Franchising
What are the key factors currently driving growth and investor interest in the U.S. self storage sector?
Several key factors are currently driving the growth and investor interest in the US self-storage sector. Over the years, self-storage has consistently grown nationwide from 0 square feet per person to almost 8 square feet per person. And it is higher in many areas. Once a person has used self-storage, they are likely to use the convenience again. Thus, self storage has grown from an unknown investment to a bankable mainstream investment.
Institutional and REIT investors’ demand for self storage has kept the selling cap rates very low, and resale prices extremely high and profitable. When I first got started in self-storage in the 80’s, institutional investors had none to very limited interest in the unproven self storage investment market. Now, REIT ownership is approaching 30% and growing.
Self storage investment provides many benefits for individuals that cannot be found in other investments, such as building a multimillion-dollar business while you keep your career, low failure rates, high returns, loan-friendly, limited employees, recession-resistance, automation, and the many benefits of investing in real estate without the typical headaches.
While most investors are presently concerned with inflation and interest rates, self storage is not impacted as much as many other investments. Most costs are fixed once you are open. The extra inflation cost due to staff and products that impact most businesses is minimal. Even if you only raise your rates to match inflation, you will make extra profits, and often you can raise rates more than inflation for additional profits.
How do you see the self storage industry evolving over the next few years?
Leading premier self storage businesses are managed akin to hospitality businesses. They provide both a high-tech and high-touch approach. This will be the direction over the next few years. Designs will be improved to meet the renters’ needs, the managers’ needs, and the city requirements vs many of the cookie-cutter designs. AI and other technologies will be a big part in marketing and many other managerial tasks.
As soon as interest rates move down a percent or two, more people will be moving, and we could have the highest occupancy and returns ever for self storage.
Are there operational best practices or tech features that tend to correlate with high-performing properties or markets?
Over 90% of the many self storage facilities I have visited are average and do not follow best operational practices or the best sales and Marketing practices. Or use technology to their advantage. Those who do are always making significantly more profits. Most self-storage facilities do not even have an operation manual or sales and marketing manual. And if they do, they are often outdated or not used.
High-performing self storage resembles the hospitality business and the technology business. Managers will greet you at the door, show you a unit, ask for the rental, overcome any objections and ask for the rental again. And call you back the next day if you did not rent. CRM technology will help make sure the manager does this right every time. Of course, allowing prospects to rent from their computer or phone is a must and will be easier every year with AI and better technology.
Here’s just an example of “best practice” that make a huge difference: Using a $30/month texting service that texts the renter weekly when they are late. It will do a much better job than a manager calling and getting no answer 80% of the time. And the text will even take a payment! And if they are 30 days late, lien notices should go out automatically for an online auction. Over 90% of the delinquent clients will pay up before the auction goes live.
Methodology
This analysis was conducted by StorageCafe, an online platform offering nationwide listings for storage units.
This study evaluates the performance and growth potential of 213 major U.S. self storage markets based on a weighted composite index. The final ranking is based on the following eight metrics, each contributing a defined percentage to the overall score:
Data on self storage comes from Yardi Matrix, StorageCafe’s sister division and 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.
Population-related data are from the US Census.
The online marketing costs come from Google Ads, while data regarding online searches for self storage related terms were extracted via Google Keyword Planner.
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 information 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.
