Miami Self Storage Market Statistics:

Rent Prices, Local Inventory and Development Trends (October 2021)

Self storage has become crucial for navigating major life events. It can be particularly useful for events such as moving, downsizing and when changes in household composition occur, as well as when engaging in home remodeling projects and organizational endeavors. Miami offers plenty of self storage options to cater to all needs and budgets.

How much does a storage unit cost in Miami, FL?

Currently, the average cost of a 10x10 storage unit in Miami is $183/month, a change of 28% compared to last year. Nationally, self storage street rates for 10×10 non-climate-controlled units saw a 8.5% year-over-year change, registering an average of $128 in October, 2021.

Miami self storage prices by unit size

Besides the standard 10x10 unit, the Miami self storage market includes several other types of units that can vary in terms of size and amenities, and naturally, price.

For instance, a 5x5 self storage unit in Miami rents for $71, while a 5x10 unit would cost $112/month. Average street rates for a 10x20 unit stand at $342/month. Non-climate-controlled units typically come with lower price tags than their climate-controlled counterparts of the same size.

Non-Climate-Controlled Units*
Unit Size Avg. Street Rate
5x5 $71
5x10 $112
10x10 $183
10x15 $257
10x20 $342
10x30 $399
Climate-Controlled Units*
Unit Size Avg. Street Rate
5x5 $66
5x10 $108
10x10 $183
10x15 $253
10x20 $341
10x30 $477

* Average monthly rates for Miami in October 2021.

Average storage unit cost in Miami by neighborhood

Self storage prices can vary depending on location as some neighborhoods might offer more budget-friendly self storage rates than others. You can find cheap storage units in Miami in Sandalwood Villas - Marco, where the standard self storage unit goes for $191/mo. on average, in Point West, where renters pay $194/mo. on average, and in Kendale Lakes Center, where the average street rates hover around $197/mo.

If you’re looking for other great deals, check out listings in Miller Dreams and Walnut Park, where self storage street rates start at $16/mo. and $28/mo., respectively.

Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in Miami is Miami Design District with a monthly average street rate of $381, followed by Silver Bluff.

Cheapest Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Sandalwood Villas - Marco $191
2 Point West $194
3 Kendale Lakes Center $197
Most Expensive Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Miami Design District $381
2 Silver Bluff $331
3 Grapeland Heights $285

Compare average storage prices in Miami neighborhoods

Neighborhood prices
Whether you'd prefer a storage unit near your home, your office or somewhere else in the city, you can compare two of your preferred neighborhoods by selecting them on the left.
Miami avg. rent
Neighborhood #1
Neighborhood #2

Want to find the best self storage deals? Browse listings in your preferred Miami neighborhoods and Miami Zip Codes for more details on what’s available and compare rent prices, unit sizes and amenities.

How Miami, FL, Self Storage Compares With Other Cities

How self storage costs in Miami compare to prices in other nearby cities

Check out the table below to see how self storage in Miami compares rent-wise to other places within a 50-mile radius.

# City Average Street Rate
1 Miami Beach, FL $272
2 Miramar, FL $221
3 Miami, FL $183
4 Aventura, FL $170
5 Miami Gardens, FL $169
6 North Miami, FL $159
7 Opa-Locka, FL $153
8 Hialeah, FL $152
9 Homestead, FL $137
10 Doral, FL $133

Average street rates for non-climate-controlled 10x10 units for October 2021.

How self storage costs in Miami compare to rates in other sought-after cities in the US

Check out the table below to see how self storage rent in Miami compares to other popular cities in the US.

# City Average Street Rate
1 New York City, NY $247
2 Miami, FL $183
3 Phoenix, AZ $127
4 Las Vegas, NV $125
5 Austin, TX $119
6 Dallas, TX $116
7 Tucson, AZ $114
8 San Antonio, TX $109
9 Houston, TX $95
10 Indianapolis, IN $86

Average street rates for non-climate-controlled 10x10 units for October 2021.

Self storage market size in Miami, FL

Miami self storage market statistics

No. of self storage units approx. 9,309
No. of self storage facilities 110
Local self storage inventory (sq. ft.) 7,948,742
Self storage sq. ft. per capita 3.4
New self storage facilities set for delivery in 2021 2
New self storage supply set for delivery in 2021 (sq. ft.) 185,688
Average self storage rent in Miami for a standard 10x10 unit $183

Miami self storage construction trends

The self storage sector has maintained an active development pipeline in recent years. In 2020 alone, about 545,289 square feet of self storage space came online in Miami, representing 6.9% of the existing inventory.

Currently, there are 110 self storage facilities and approx. 9,309 storage units in Miami. The local inventory encompasses 7,948,742 square feet of storage space, offering 3.4 square feet per capita.

A total of 185,688 square feet of self storage space is projected for completion in 2021.

What’s driving demand for self storage?

Quick overview of the Miami housing market

Total no. of households 176,777
Y-o-y change in no. of households 3.4%
Renter households in Miami 124,366
Homeowner households in Miami 52,411
Households with mortgages in Miami 27,801
Median number of rooms (all housing units) 3.8
Average apartment size (sq. ft.) 888
Average home size (sq. ft.) 1,572
Average apartment rent $1,972
Median home value $334,100
Working from home (# of total working population) 2.3%

Self storage for residential clients: key facts and figures about the Miami housing market

Generally associated with life events, the self storage industry is equipped to respond to people with changing housing situations, whether that means moving, downsizing, welcoming a new baby, or embracing multi-generational living. Lifestyle choices are also a demand driver for self storage, including preferences for snowbirding, digital nomading and RV travelling.

Looking at the type of residential customers that the Miami self storage sector serves, it caters to both renters and homeowners, acting as extensions of their homes when living spaces are not big enough for the things people own.

Miami is home to 124,366 renters and 52,411 homeowners. The average apartment size in Miami is 888 sq. ft. and the average Miami home size is 1,572 sq. ft.

Self storage for business

Alongside the residential sector, self storage responds to needs arising from conducting business. Entrepreneurs and small business owners, including brick-and-mortar retailers, can turn to self storage to store their merchandise all while keeping it accessible.

Legal and medical professionals often turn to self storage as they are generally required to keep hard copies of their records. Realtors and interior designers also find self storage particularly useful for temporarily storing staging furniture. Moreover, blue collar businesses can benefit from storing their heavy equipment and supplies close to their work site.

Self storage interest: How customers search for Miami self storage

Interest for self storage has been growing over the last decade, as Google Trends data shows. We’ve looked at the most popular keyword used in conjunction with Miami self storage-related searches, "self storage", to see the latest trends in consumer search habits. June, July and August are generally the most popular months for self storage searches.

Data Source:  Google Trends

Self storage market trends in cities

Where does our data come from?

All data related to self storage was compiled by STORAGECafé, an online self storage search portal featuring more than 25,000 listings across the U.S.

The self storage rental statistics on this page were sourced from our sister company, Yardi Matrix, the industry's most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in the multifamily, student housing, self storage, office and industrial sectors. Yardi Matrix maintains operational profiles for over 29,000 self storage facilities across the U.S.