The self-storage industry has become one of real estate’s hotspots, mostly thanks to the growing job market and heightened demand that keeps investors busy. Whether people are buying more, or, on the contrary, are downsizing their home, they need storage facilities to keep things in order. According to the National Self-Storage Report conducted by Yardi Matrix in August 2019, the development activity intensified in about 40% of the top markets, compared to the previous month, with the number of self-storage projects under construction or in the planning stages being equivalent to 9.5% of the total current inventory. Drawn from Yardi Matrix’s national database of more than 27,000 stores, here are the top 5 hottest markets for new self-storage construction:
1. Portland
The largest city in the state of Oregon tops the list with an astonishing number of new or projected self-storage constructions, representing 23.3% of the existing inventory. Even though the percentage decreased slightly compared to the previous month, Portland remains the hottest city for self-storage construction at the moment.
According to Smart Asset, Portland is the third most-popular moving destination for millennials, who seem to be drawn to this prosperous West Coast settlement. Known for its local culture, Portland is one of the top hipster destinations in the Pacific Northwest, as well as a major hub for many industries and huge companies such as Google and Intel, which implies a quickly growing job market.
2. Nashville
Nashville is next in line with a large number of new stores planned or under construction – 21.8% of the current self-storage inventory. The promise of good jobs and good pay, combined with an affordable cost of living, constantly attract the younger population, making it one of the fastest-growing cities in the US. Due to a consistently strong job market, Tennessee’s largest city has favorable financial prospects for its residents.
According to the Bureau of Labor Statistics, even though the average income is slightly lower than the national average, the population experiences a low rate of unemployment. Among major employers in the Nashville area is Nissan North America, but it is also home to a large number of small businesses, many of them owned by millennials.
3. Seattle
The third city that paves the way for more building of self-storage facilities is Seattle, with new constructions and projects representing 20.6% of the inventory. Washington’s largest and most acclaimed city is a hub of both culture and technology, factors that are very likely to attract younger people to live there, and, boost the job market and the self-storage industry as a consequence. According to Census data, over the course of last year there were 33,989 new millennials moving into Seattle, and 25,982 who left. That results in a gain of 8,007 millennial residents for the Emerald City, which is booming with new constructions as well as new self-storage facilities.
4. Orlando
Orlando occupies the 4th position in the top 5 cities with the biggest number of new self-storage facilities, with constructions and projects being equivalent to 18.1% of the city’s inventory in August. Even though it is not among the country’s most populated cities, its diversification into the finance, science, mathematics, engineering, and technology sectors encourage young people to move to central Florida, and Orlando is becoming one of the fastest-growing cities in the United States.
5. New York
Last, but not least, New York is #5 on our list, with the number of new self-storage facilities due to come online being 16.9% of the existing inventory. The unemployment rate in New York City has been on the decline, mostly due to economic growth. With a wide variety of industries represented here, the city’s average income is noticeably higher than the national average, as can be seen in the data sourced from the Bureau of Labor Statistics. Also, being a more and more space-challenged city with ever-shrinking apartments and more expensive living quarters, New York shows great demand for new self-storage constructions, as they are the best solution to living small.
A constantly increasing rate of urbanization and consumption combined with an improved economic outlook nationwide leads to a significant development in the self-storage industry.
How to Store a Boat in Self Storage: Types, Costs & What to Look For
Storing a boat in self storage comes down to four decisions: how far the facility is from your launch point, what type of storage suits your climate (outdoor, covered, or indoor), how to prepare the boat before storing it, and whether the facility’s security and access hours fit how you use your boat. First-time owners who think through these factors before signing a lease tend to get significantly more use out of their boat.
Best RV Destinations in the U.S. (2026): Oceanfront Drives Beat America’s Usual RV Favorites
A new kind of traveler is reshaping the RV campground: younger, plugged in and rarely fully off the clock.
Temporary Storage During Emergencies: What to Know Before You Need It
When a hurricane’s bearing down, a wildfire is closing in, or floodwater has already reached your front door, the last thing you want to be doing is figuring out where to put your stuff – but that’s exactly when people find themselves scrambling for temporary storage.
Before You Store Your Car in Self Storage: What Documents You Actually Need
Most self storage facilities require four main things before allowing a vehicle onto the property: a valid photo ID, current vehicle registration, proof of insurance, and a signed rental agreement. Requirements beyond these vary by facility and state, particularly around insurance levels, registration status and whether the vehicle is financed
A Smarter Way to Start Your Storage Search: Inside the StorageCafe Resource Center
Renting a storage unit usually begins with a practical need. You may be preparing for a move, clearing space at home, renovating, downsizing or simply trying to bring more order into a crowded living situation. In many cases, the first instinct is to consider renting immediately.
Where to Donate Furniture in NYC (With Free Pick-Up Options)
Finding somewhere to donate furniture in NYC is more complicated than it should be. Not every organization accepts large items, pick-up availability is inconsistent, and the options that do exist aren’t always easy to find in one place. If you’re specifically hoping to donate furniture with free pick-up, the list of options gets even shorter.
Clean Out, Give Back: Where to Donate Clothes in Los Angeles
Few cities reinvent themselves like Los Angeles, and wardrobes tend to follow suit. Between changing seasons, evolving trends and an endless calendar of occasions worth dressing for, closets fill up fast, making the question of where to donate clothes in Los Angeles one that most Angelenos eventually find themselves asking.
How to Store Shoes Based on Your Personality
Your shoe closet is lying — not about how many pairs you own (that number is likely higher than you’d admit), but about who you are. The way you approach shoe storage, or avoid it, is one of the more honest reflections of your personality that exists in a home.
Tiny Home Storage Ideas for Every Nook and Cranny
Tiny home storage is one of those challenges that sounds straightforward until you’re standing in 200 square feet wondering where the winter coats are supposed to go. You didn’t downsize for the storage anxiety — you did it for the coziest place you’ve ever called home, a wallet that finally feels lighter, and a minimalist lifestyle that suits you just fine.