Raleigh Self Storage Market Statistics:

Rent Prices, Local Inventory and Development Trends (March 2024)

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

How much does a storage unit cost in Raleigh, NC?

Currently, the average cost of a 10x10 storage unit in Raleigh is $88/month, a decrease of 6.4% compared to last year. Nationally, self storage street rates for 10×10 non-climate-controlled units saw a 5.5% year-over-year decrease, registering an average of $120 in March, 2024.

Raleigh self storage prices by unit size

Besides the standard 10x10 unit, the Raleigh 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 Raleigh rents for $39, while a 5x10 unit would cost $59/month. Average street rates for a 10x20 unit stand at $153/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 $39
5x10 $59
10x10 $88
10x15 $125
10x20 $153
10x30 $224
Climate-Controlled Units*
Unit Size Avg. Street Rate
5x5 $39
5x10 $60
10x10 $99
10x15 $135
10x20 $184
10x30 $287

* Average monthly rates for Raleigh in March 2024.

Average storage unit cost in Raleigh 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 Raleigh storage units in Bashford Ridge, where the standard self storage unit goes for $73/mo. on average, in Village of Fox Run, where renters pay $96/mo. on average, and in Riverbirch, where the average street rates hover around $98/mo.

If you’re looking for other great deals, check out self storage listings, and their average street rates, in Mordecai ($100) and Trinity Park ($103).

Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in Raleigh is Brier Creek with a monthly average street rate of $302, followed by North Haven.

Cheapest Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Bashford Ridge $73
2 Village of Fox Run $96
3 Riverbirch $98
4 Mordecai $100
5 Trinity Park $103
6 Oak Park $105
7 Riverview $106
8 Hope Valley $111
9 Pepperdyne $115
10 Caraleigh Mills $118
Most Expensive Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Brier Creek $302
2 North Haven $199
3 Timberlake Estates $189
4 North Ridge $187
5 Crabtree Pines $177
6 Valley Estates $158
7 The Park at Perry Creek $153
8 Carriage Woods $151
9 Trawick Dale $150
10 HI Mount $147

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

How Raleigh, NC, Self Storage Compares With Other Cities

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

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

# City Average Street Rate
1 Knightdale, NC $145
2 Rolesville, NC $109
3 Wake Forest, NC $103
4 Clayton, NC $103
5 Apex, NC $96
6 Wendell, NC $95
7 Garner, NC $94
8 Cary, NC $91
9 Raleigh, NC $88
10 Morrisville, NC $85

Average street rates for non-climate-controlled 10x10 units for March 2024.

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

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

# City Average Street Rate
1 New York City, NY $247
2 Las Vegas, NV $115
3 Phoenix, AZ $113
4 Austin, TX $111
5 Dallas, TX $110
6 Tucson, AZ $110
7 San Antonio, TX $104
8 Houston, TX $91
9 Raleigh, NC $88
10 Indianapolis, IN $81

Average street rates for non-climate-controlled 10x10 units for March 2024.

Self storage market size in Raleigh, NC

Raleigh self storage market statistics

No. of self storage units approx. 5,952
No. of self storage facilities 82
Local self storage inventory (sq. ft.) 4,740,351
Self storage sq. ft. per capita 7.2
New self storage facilities set for delivery in 2024 1
New self storage supply set for delivery in 2024 (sq. ft.) 11,970
Average self storage rent in Raleigh for a standard 10x10 unit $88

Raleigh self storage construction trends

The self storage sector has maintained an active development pipeline in recent years. In 2023 alone, about 81,000 square feet of self storage space came online in Raleigh, representing 1.7% of the existing inventory. Compared to the year before, self storage inventory in Raleigh has increased by 1.7%.

Currently, there are 82 self storage facilities and approx. 5,952 storage units in Raleigh. The local inventory encompasses 4,740,351 square feet of storage space, offering 7.2 square feet per capita.

A total of 11,970 square feet of self storage space is projected for completion in 2024, a decrease of 85.2% compared to last year.

What’s driving demand for self storage?

Quick overview of the Raleigh housing market

Total no. of households 187,234
Y-o-y change in no. of households 2.1%
Renter households in Raleigh 90,572
Homeowner households in Raleigh 96,662
Households with mortgages in Raleigh 74,140
Median number of rooms (all housing units) 5.2
Average apartment size (sq. ft.) 949
Average home size (sq. ft.) 1,876
Average apartment rent $1,609
Median home value $280,000
Working from home (% of total working population) 12.9%

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

Raleigh is home to 90,572 renters and 96,662 homeowners. The average apartment size in Raleigh is 949 sq. ft. and the average Raleigh home size is 1,876 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 market trends in cities

Where does our data come from?

All data related to self storage was compiled by StorageCafe, an online self storage search portal featuring more than 28,000 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 30,000 self storage facilities across the U.S.

Average home size data is from PropertyShark, while demographic data is from the latest U.S. Census Bureau release, the 2020 American Community Survey.