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Indianapolis 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. Indianapolis offers plenty of self storage options to cater to all needs and budgets.

How much does a storage unit cost in Indianapolis, IN?

Currently, the average cost of a 10x10 storage unit in Indianapolis is $86/month, a change of 8.9% 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.

Indianapolis self storage prices by unit size

Besides the standard 10x10 unit, the Indianapolis 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 Indianapolis rents for $35, while a 5x10 unit would cost $57/month. Average street rates for a 10x20 unit stand at $141/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 $35
5x10 $57
10x10 $86
10x15 $113
10x20 $141
10x30 $186
Climate-Controlled Units*
Unit Size Avg. Street Rate
5x5 $44
5x10 $67
10x10 $106
10x15 $141
10x20 $178
10x30 $242

* Average monthly rates for Indianapolis in October 2021.

Average storage unit cost in Indianapolis 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 Indianapolis in Hill Valley Estates, where the standard self storage unit goes for $69/mo. on average, in Gateway West, where renters pay $79/mo. on average, and in Woodsong and Hathaway Homes, where the average street rates hover around $83/mo.

If you’re looking for other great deals, check out listings in Chapel Hill and North Perry, where self storage street rates start at $29/mo. and $15/mo., respectively.

Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in Indianapolis is Forest Hills with a monthly average street rate of $207, followed by Arlington Woods.

Cheapest Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Hill Valley Estates $69
2 Gateway West $79
3 Woodsong $83
4 Hathaway Homes $83
5 Chapel Hill $84
6 North Perry $85
7 Park Valley Estates $86
8 Franklin Heights $89
9 Drexel Gardens $91
10 Sterling Heights $95
Most Expensive Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Forest Hills $207
2 Arlington Woods $177
3 Central Nora $159
4 Allisonville $154
5 Glendale $148
6 I65 - South Emerson $146
7 Sunset Cove $144
8 Sheffield Woods $143
9 Bellaire $130
10 Fall Creek Highlands $129

Compare average storage prices in Indianapolis 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.
Indianapolis avg. rent
Neighborhood #1
Neighborhood #2

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

How Indianapolis, IN, Self Storage Compares With Other Cities

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

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

# City Average Street Rate
1 Carmel, IN $120
2 Plainfield, IN $101
3 Brownsburg, IN $94
4 New Palestine, IN $88
5 Lawrence, IN $86
6 Indianapolis, IN $86
7 Greenwood, IN $85
8 Camby, IN $84
9 Avon, IN $76
10 Whiteland, IN $74

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

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

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

# City Average Street Rate
1 New York City, NY $247
2 Chicago, IL $135
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 Indianapolis, IN

Indianapolis self storage market statistics

No. of self storage units approx. 6,226
No. of self storage facilities 128
Local self storage inventory (sq. ft.) 7,238,883
Self storage sq. ft. per capita 6.5
New self storage facilities set for delivery in 2021 4
New self storage supply set for delivery in 2021 (sq. ft.) 134,595
Average self storage rent in Indianapolis for a standard 10x10 unit $86

Indianapolis self storage construction trends

The self storage sector has maintained an active development pipeline in recent years. In 2020 alone, about 167,482 square feet of self storage space came online in Indianapolis, representing 2.3% of the existing inventory.

Currently, there are 128 self storage facilities and approx. 6,226 storage units in Indianapolis. The local inventory encompasses 7,238,883 square feet of storage space, offering 6.5 square feet per capita.

A total of 134,595 square feet of self storage space is projected for completion in 2021.

What’s driving demand for self storage?

Quick overview of the Indianapolis housing market

Total no. of households 338,208
Y-o-y change in no. of households 0.8%
Renter households in Indianapolis 158,507
Homeowner households in Indianapolis 179,701
Households with mortgages in Indianapolis 124,422
Median number of rooms (all housing units) 5.4
Average apartment size (sq. ft.) 881
Average home size (sq. ft.) 1,439
Average apartment rent $1,017
Median home value $142,900
Working from home (# of total working population) 2.6%

Self storage for residential clients: key facts and figures about the Indianapolis 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 Indianapolis 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.

Indianapolis is home to 158,507 renters and 179,701 homeowners. The average apartment size in Indianapolis is 881 sq. ft. and the average Indianapolis home size is 1,439 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 Indianapolis 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 Indianapolis 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.