Where Self Storage Boomed In 2025: The Sunbelt Pulls Ahead As Atlanta And Phoenix Top The Nation In New Supply

Self storage is operating in a mode of cautious optimism. After a pandemic-era construction surge that pushed several markets into oversupply, development activity pulled back in 2025 as builders focused on restoring balance between supply and demand. New deliveries totaled 51 million square feet of rentable space in 2025, marking a 21% decline from 2024 and signaling a deliberate recalibration rather than a retreat.

Yet against the backdrop of this national cooldown, developers didn’t hit the brakes everywhere. Instead, new supply flowed into a familiar set of winners: fast-growing Sunbelt states, high-churn “life-transition” metros, and a handful of high-priced coastal markets where self storage effectively functions as an off-site closet.

Alongside the usual heavyweights — Florida, Texas, and California — fast-growing migration magnets such as Georgia and North Carolina also took center stage. Florida, in particular, stood out, with developers delivering nearly 9 million square feet of new self storage space, the largest increase nationwide. That influx expanded the state’s inventory by roughly 5%, underscoring how population growth continues to steer construction activity even in a more measured development cycle.

Atlanta and Phoenix emerged as the most active self storage construction markets in 2025, each adding more than 2 million square feet of new space. New York–Newark–Jersey City ranked third, with 1.7 million square feet of storage space delivered during the year, followed by the Los Angeles and Chicago metro areas.

Even in the most active markets, new construction arrived at a measured pace. Additions in top delivery markets typically accounted for just 2% to 5% of existing inventory, allowing supply to expand without overwhelming local market fundamentals.

As expected, the sharpest shifts occurred in smaller markets. Elizabeth City, NC, recorded the fastest growth nationwide, expanding its self storage inventory by nearly 49% in a single year. Among larger metros, Cape Coral–Fort Myers, FL, saw inventory expand by 10.5%, with 924,800 square feet of rentable space added. Gainesville, FL, followed with a 10.4% increase after 244,800 square feet of new supply came online, while York–Hanover, PA, posted a 9.8% expansion, adding 275,600 square feet.

Below, we take a closer look at the top markets fueling today’s construction activity, along with the distinctive blend of growth, churn, and affordability pressures that keep them firmly on developers’ short lists.

Florida, Texas, and California lead states with the largest self storage inventory expansions

As the epicenter of “move-in” storage demand, Florida emerged as the engine of the 2025 self storage boom. Developers delivered about nearly 9 million square feet, a gain of about 5%, as per-capita availability approached 10 square feet. That growth mirrors sustained population inflows and elevated housing churn. The Florida Chamber Foundation projects the state’s population to reach about 24 million in 2025, with net in-migration exceeding 300,000 residents per year, while Florida Realtors note forecasts calling for over 900 net new residents per day through the mid-2020s.

Multiple metros landed near the top of the national ranking.

• Orlando: 1,195,200 sq. ft. (5.0% growth); $126
• Tampa–St. Petersburg: 1,031,100 sq. ft. (3.8%); $134
• Jacksonville: 1,008,700 sq. ft. (6.4%); $136
• Cape Coral–Fort Myers: 924,800 sq. ft. (10.5%); $130
• Miami: 615,300 sq. ft. (4.1%); $169
• Deltona–Daytona: 498,600 sq. ft. (7.4%); $123
• Plus notable additions in: Lakeland (6.1%), Palm Bay (5.2%), North Port–Sarasota (5.3%), Ocala (8.8%), Pensacola (3.8%)

Overall, Florida is a self storage “perfect storm”: heavy in-migration, high relocation churn, downsizing among retirees, and a constant stream of life events (moves, remodels, storm prep, second homes). Many Florida metros also have high shares of renters and frequent household transitions — which reliably boosts demand for short- and mid-term storage.

Texas followed closely behind, remaining one of the industry’s most active construction theaters. About 5.1 million square feet of new self storage space came online in 2025, equal to roughly 2% inventory growth, pushing per-capita availability to around 11 square feet.

That profile aligns with Texas’ steady migration gains and outward development pattern. Major metros such as Dallas–Fort Worth and Houston continue to expand into new suburban employment and housing nodes, where larger homes, recreational vehicles, and steady household accumulation tend to drive storage demand tied more to everyday living than short-term displacement. Combined with consistent job growth and resilient consumer spending, those dynamics have helped keep self storage demand durable across the state.

• Dallas–Fort Worth: 1,303,000 sq. ft. (1.6%) on a huge 80.7M sq. ft. inventory; $116
• Houston: 1,259,900 sq. ft. (1.6%) on 79.7M sq. ft.; $118
• San Antonio: 1,225,800 sq. ft. (4.8%); $120
• Austin: 498,500 sq. ft. (2.3%); $123
• McAllen: 170,100 sq. ft. (3.4%); $114

California ranks third in new deliveries, with 4.4 million square feet of new self storage in 2025. Per-capita availability remained below the national average of 7.6 square feet, while average street rates averaged around $181; quite above the average rate nationwide. These conditions suggest dense metro economies, high housing costs, and frequent household and roommate turnover in coastal regions such as Los Angeles and the Bay Area. Limited developable land and extensive local regulation continue to cap the pace of new construction, so storage additions remain proportionally small while pricing stays high.

In expensive coastal markets, storage demand is equally about in-migration and about space constraints. Smaller units, high rent, and limited closet/basement space turn self storage into a lifestyle utility. Inland California markets add another driver: faster housing growth and household churn at price points that still attract movers.

• Los Angeles: 1,533,100 sq. ft. (2.3%); $208
• Sacramento: 636,200 sq. ft. (3.0%); $140
• Riverside–San Bernardino: 561,800 sq. ft. (1.6%); $137
• San Francisco Bay Area: 306,900 sq. ft. (1.3%); $217
• San Diego: 236,600 sq. ft. (1.2%); $176
• Plus: Bakersfield (5.2%), Stockton (3.5%)

Georgia added more than 3 million square feet of new self storage space in 2025, driven largely by sustained in-migration to the Atlanta region, where job growth in logistics and corporate services continues to draw new residents. Atlanta alone led the nation in new deliveries, with 2.2 million square feet coming online — a 4.1% expansion of inventory that left market fundamentals intact, with average street rates near $120 and per-capita availability at 9.6 square feet. The metro’s steady inflow of residents, expanding employment base and massive logistics footprint generate constant “stuff movement,” from relocations and downsizing to apartment living. Beyond Atlanta, secondary markets reinforced the trend: Savannah added 267,700 square feet amid port activity and seasonal population swings, while Athens expanded its inventory by 5.6%, reflecting the frequent housing turnover typical of university-driven markets — conditions that continue to favor storage operators even as national construction activity cools.

• Atlanta: 2,223,100 sq. ft. delivered (4.1% of inventory) — the No. 1 metro in the U.S. for new supply; $120 avg street rate; 9.6 sq. ft./capita
• Savannah: 267,700 sq. ft. (7.2%); $138
• Athens: 95,800 sq. ft. (5.6%); $95

North Carolina rounded out the group of leading states, each of which has seen growth along expanding employment corridors beyond their largest cities. North Carolina delivered around 2.7 million square feet, amid what state leaders describe as record-level job growth and capital investment across Charlotte, the Triangle, and smaller regional hubs. In both Georgia and North Carolina, per-capita storage availability now exceeds 10 square feet, consistent with sprawling metro footprints, new single-family construction, and continued in-migration from higher-cost regions.

• Charlotte–Concord–Gastonia: 776,800 sq. ft. (3.5% of inventory); $119
• Raleigh–Cary: 385,800 sq. ft. (3.3%); $119
• Elizabeth City: 265,900 sq. ft. (48.6%) — the No. 1 metro in the U.S. for rate of supply growth; $141

Metros with the biggest self storage expansions: Elizabeth City, NC, takes the lead

The fastest inventory growth in 2025 occurred primarily in smaller and mid-sized metros, where local economies are expanding faster than legacy self storage supply can adjust. In these markets, new construction does not need to arrive in large volumes to have an outsized effect. Instead, growth points to places adding residents, jobs, or investment across wide rural or exurban trade areas, where storage demand extends well beyond city limits.

Elizabeth City, NC, posted the fastest expansion nationwide, adding about 266,000 square feet and increasing total inventory by nearly 49% to over 547,000 square feet. This addition quickly lifted total supply, pushing per-capita availability to around 16.5 square feet — more than double the national average of 7.6 square feet per capita. Even with this high footprint, average street rates are near an above average $141. Most likely, this has to do with the dependability of self storage renters in the area, thanks to Elizabeth City’s economic upswing. The metro sits along the Albemarle Sound and functions as a regional service hub for northeastern North Carolina and the nearby U.S. Coast Guard base, which is the largest employer in the area.

Downtown Elizabeth City, North Carolina

Following Elizabeth City, Henderson, NC, and Plymouth, IN, recorded some of the fastest gains. Henderson expanded inventory by just over 30%, as its economic sector is beginning to strengthen via the manufacturing and energy industries. Plymouth showed similar momentum, growing inventory by nearly 29%. Located between South Bend and Fort Wayne, Plymouth anchors a blue-collar-oriented region where affordable housing, small industrial employers, and new subdivisions draw demand from surrounding communities rather than dense urban cores.

Further west, Aberdeen, SD, and Sanford, NC, show how regional roles shape storage demand. Aberdeen expanded its inventory by more than 19% and pushed per-capita availability to around 16 square feet. As a regional center for northeastern South Dakota, Aberdeen serves a broad rural catchment tied to agriculture, manufacturing, healthcare, and education, where households and businesses often require off-site space for equipment and inventory. Sanford, southwest of Raleigh, saw a nearly 14% growth, a testament to its position within a fast-growing exurban corridor benefiting from residential and industrial spillover as the Research Triangle expands outward.

Elevated growth also appeared in select larger metros where local dynamics intensified demand. Cape Coral–Fort Myers, FL, expanded inventory by nearly 11%, adding about 925,000 square feet, amid rapid in-migration, heavy single-family construction, seasonal residency, and ongoing rebuilding activity along the Gulf Coast. Gainesville, FL, grew by well over 10%, supported by continual turnover tied to the University of Florida and major healthcare employers. York–Hanover, PA, also approached 10% growth, followed by Santa Cruz–Watsonville, CA, with a 9% expansion; both trends are shaped by commuting patterns, housing constraints, and frequent household movement within broader regional economies.

Conclusion

In 2025, the U.S. saw self storage expanding in ways both expected and unpredictable. Florida led states in total inventory gains, while Texas, California, Georgia, and North Carolina added space in line with long-term housing and population trends. Large metros such as Atlanta and Phoenix absorbed new supply without disruption, while smaller markets including North Carolina’s Elizabeth City and Henderson saw the most rapid shifts in local inventory.

Expert opinion

To understand this year’s self storage market trends from an investor’s perspective, we spoke with Doug Ressler, who leads Business Intelligence at our sister company, Yardi Matrix.

Doug Ressler, Business Intelligence Manager at Yardi Matrix

What is the state of the self storage industry heading into 2026?

The self storage industry is in a period of recovery, supported by improving demand and absorption across multiple market types. Markets that entered the cycle with higher initial supply are now seeing increased absorption and stabilization. Trade-corridor markets like Savannah, Riverside, and Bakersfield, as well as regions across the Northwest, Mountain West, and Midwest, continue to show solid fundamentals and a stronger ability to absorb new supply.

How are pricing and supply dynamics evolving across major metros?

Self storage rates have been rising since December 2024. Operators in Los Angeles have begun pushing rates following the implementation of rent growth restrictions, while most top metros have experienced growing demand despite a measured decline in lease-up supply over the past three years. In addition to ground-up development, conversions and facility expansions are contributing to overall supply metrics.

How are developers and REITs responding as the market approaches its next phase?

Most of the top developers over the past 3 years have slowed their pace and are carefully selecting areas of growing demand and undersupply like fast-growing migration magnets such as Georgia and North Carolina.

The sector is nearing an inflection point as oversupply eases, rents stabilize and revenue strategies shift. REITs expect marginal boost from occupancy and a housing market recovery but will continue to see low existing customer turnover, improving street rates and less competition from new deliveries overall. The recovery will continue to be uneven as some markets continue to face new competition and rely heavily on housing markets/migration to lease up new properties.

Methodology

This analysis was conducted by StorageCafe, an online platform that offers nationwide storage unit listings.

This analysis examines 493 U.S. metropolitan areas based on the volume of self storage space delivered in 2025. Markets were ranked and compared according to new supply added during the year, to provide a consistent basis for identifying where construction activity was most concentrated.

To place new development in context, we also included total existing inventory for each metro, along with average street rates from the most recent available month. This allowed us to evaluate where supply expanded and how pricing responded.

In addition, we calculated 2025’s new supply as percentage of total inventory on a national, state and metro-level, to measure the relative speed of construction at the market level.

Data on self storage street rates and construction data for 2025 came from our sister division 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 is intended as a resource for the general public on topics of common interest and should not be considered investment advice. The data presented is accurate to the best of our knowledge, based on thorough and good-faith research, but it may change due to external factors.

We permit the distribution of this content, provided that proper attribution is given to “StorageCafe” with a link back to the research study.