Albuquerque Self Storage Market Statistics:

Rent Prices, Local Inventory and Development Trends (June 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. Albuquerque offers plenty of self storage options to cater to all needs and budgets.

How much does a storage unit cost in Albuquerque, NM?

Currently, the average cost of a 10x10 storage unit in Albuquerque is $103/month, a decrease of 5.5% 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 $121 in June, 2024.

Albuquerque self storage prices by unit size

Besides the standard 10x10 unit, the Albuquerque 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 Albuquerque rents for $41, while a 5x10 unit would cost $61/month. Average street rates for a 10x20 unit stand at $164/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 $41
5x10 $61
10x10 $103
10x15 $134
10x20 $164
10x30 $220
Climate-Controlled Units*
Unit Size Avg. Street Rate
5x5 $51
5x10 $76
10x10 $122
10x15 $160
10x20 $217
10x30 $314

* Average monthly rates for Albuquerque in June 2024.

Average storage unit cost in Albuquerque 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 Albuquerque storage units in Broadway, where the standard self storage unit goes for $96/mo. on average, in Alta Monte, where renters pay $98/mo. on average, and in Jackson, where the average street rates hover around $99/mo.

If you’re looking for other great deals, check out self storage listings, and their average street rates, in Mark Twain ($102) and Trumbull Village and South Los Altos ($103).

Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in Albuquerque is Greater Gardner with a monthly average street rate of $354, followed by Jade Park.

Cheapest Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Broadway $96
2 Alta Monte $98
3 Jackson $99
4 Mark Twain $102
5 Trumbull Village $103
6 South Los Altos $103
7 Candelmen $104
8 Los Volcanes $108
9 South San Pedro $109
10 Wells Park $110
Most Expensive Neighborhoods for Self Storage
# Neighborhood Average Street Rate
1 Greater Gardner $354
2 Jade Park $316
3 Stronghurst $214
4 Osuna Park $182
5 Ladera West $159
6 North Eastern Albuquerque $157
7 Del Norte $156
8 Oso Grande - Lincoln Green $151
9 Hodgin $149
10 Princess Jeanne $143

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

How Albuquerque, NM, Self Storage Compares With Other Cities

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

Check out the table below to see how self storage in Albuquerque compares rent-wise to other places in the state of New Mexico.

# City Average Street Rate
1 Sandia Park, NM $136
2 Santa Fe, NM $134
3 Belen, NM $104
4 Albuquerque, NM $103
5 Rio Rancho, NM $95
6 Santa Teresa, NM $91
7 Las Cruces, NM $83
8 Bernalillo, NM $79
9 Los Lunas, NM $79
10 Alamogordo, NM $66

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

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

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

# City Average Street Rate
1 New York City, NY $251
2 Phoenix, AZ $116
3 Las Vegas, NV $115
4 Austin, TX $113
5 Dallas, TX $112
6 Tucson, AZ $110
7 San Antonio, TX $103
8 Albuquerque, NM $103
9 Houston, TX $93
10 Indianapolis, IN $82

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

Self storage market size in Albuquerque, NM

Albuquerque self storage market statistics

No. of self storage units approx. 6,011
No. of self storage facilities 122
Local self storage inventory (sq. ft.) 5,427,296
Self storage sq. ft. per capita 7.7
New self storage facilities set for delivery in 2024 2
New self storage supply set for delivery in 2024 (sq. ft.) 159,823
Average self storage rent in Albuquerque for a standard 10x10 unit $103

Albuquerque self storage construction trends

The self storage sector has maintained an active development pipeline in recent years. In 2023 alone, about 60,000 square feet of self storage space came online in Albuquerque, representing 1.1% of the existing inventory. Compared to the year before, self storage inventory in Albuquerque has increased by 1.1%.

Currently, there are 122 self storage facilities and approx. 6,011 storage units in Albuquerque. The local inventory encompasses 5,427,296 square feet of storage space, offering 7.7 square feet per capita.

A total of 159,823 square feet of self storage space is projected for completion in 2024, an increase of 166.4% compared to last year.

What’s driving demand for self storage?

Quick overview of the Albuquerque housing market

Total no. of households 236,191
Y-o-y change in no. of households 5.4%
Renter households in Albuquerque 94,192
Homeowner households in Albuquerque 141,999
Households with mortgages in Albuquerque 93,650
Median number of rooms (all housing units) 5.3
Average apartment size (sq. ft.) 817
Average home size (sq. ft.) 1,672
Average apartment rent $1,313
Median home value $216,600
Working from home (% of total working population) 8.5%

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

Albuquerque is home to 94,192 renters and 141,999 homeowners. The average apartment size in Albuquerque is 817 sq. ft. and the average Albuquerque home size is 1,672 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 nearly 29,000 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.