Virginia Beach Self Storage Market Statistics:
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. Virginia Beach offers plenty of self storage options to cater to all needs and budgets.
How much does a storage unit cost in Virginia Beach, VA?
Currently, the average cost of a 10x10 storage unit in Virginia Beach is $107/month, a decrease of 3.6% compared to last year. Nationally, self storage street rates for 10×10 non-climate-controlled units saw a 4.8% year-over-year decrease, registering an average of $120 in August, 2024.
Virginia Beach self storage prices by unit size
Besides the standard 10x10 unit, the Virginia Beach 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 Virginia Beach rents for $53, while a 5x10 unit would cost $74/month. Average street rates for a 10x20 unit stand at $162/month. Non-climate-controlled units typically come with lower price tags than their climate-controlled counterparts of the same size.
| Unit Size | Avg. Street Rate |
|---|---|
| 5x5 | $53 |
| 5x10 | $74 |
| 10x10 | $107 |
| 10x15 | $133 |
| 10x20 | $162 |
| 10x30 | $216 |
| Unit Size | Avg. Street Rate |
|---|---|
| 5x5 | $61 |
| 5x10 | $90 |
| 10x10 | $140 |
| 10x15 | $178 |
| 10x20 | $217 |
| 10x30 | $280 |
* Average monthly rates for Virginia Beach in August 2024.
Average storage unit cost in Virginia Beach 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 Virginia Beach storage units in Hutton Terrace, where the standard self storage unit goes for $96/mo. on average, in Lakeview Estates, where renters pay $100/mo. on average, and in Bayville Park, where the average street rates hover around $103/mo.
If you’re looking for other great deals, check out self storage listings, and their average street rates, in Lake Front Village ($109) and Lakeview Park ($117).
Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in Virginia Beach is The Point with a monthly average street rate of $487, followed by Wesleyan Chase - Anthony Homes.
| # | Neighborhood | Average Street Rate |
|---|---|---|
| 1 | Hutton Terrace | $96 |
| 2 | Lakeview Estates | $100 |
| 3 | Bayville Park | $103 |
| 4 | Lake Front Village | $109 |
| 5 | Lakeview Park | $117 |
| 6 | Carriage Mill | $118 |
| 7 | Beacons Reach | $119 |
| 8 | Lake Edward West | $119 |
| 9 | Fair Meadows - Boulevard Manor | $124 |
| 10 | Diamond Springs Homes | $124 |
| # | Neighborhood | Average Street Rate |
|---|---|---|
| 1 | The Point | $487 |
| 2 | Wesleyan Chase - Anthony Homes | $315 |
| 3 | Castleton | $289 |
| 4 | Fairfield | $244 |
| 5 | Upton Estates | $217 |
| 6 | Solartown | $212 |
| 7 | Red Mill | $197 |
| 8 | Woodscape - Larkspur Townhomes | $194 |
| 9 | Aeropines Golf Club | $189 |
| 10 | Eureka Park | $185 |
Compare average storage prices in Virginia Beach neighborhoods
Want to find the best self storage deals? Browse listings in your preferred Virginia Beach neighborhoods and Virginia Beach Zip Codes for more details on what’s available and compare rent prices, unit sizes and amenities.
How Virginia Beach, VA, Self Storage Compares With Other Cities
How self storage costs in Virginia Beach compare to prices in other nearby cities
Check out the table below to see how self storage in Virginia Beach compares rent-wise to other places within a 50-mile radius.
| # | City | Average Street Rate |
|---|---|---|
| 1 | Yorktown, VA | $132 |
| 2 | Hampton, VA | $130 |
| 3 | Portsmouth, VA | $108 |
| 4 | Virginia Beach, VA | $107 |
| 5 | Norfolk, VA | $101 |
| 6 | Newport News, VA | $101 |
| 7 | Suffolk, VA | $100 |
| 8 | Chesapeake, VA | $98 |
Average street rates for non-climate-controlled 10x10 units for August 2024.
How self storage costs in Virginia Beach compare to rates in other sought-after cities in the US
Check out the table below to see how self storage rent in Virginia Beach compares to other popular cities in the US.
| # | City | Average Street Rate |
|---|---|---|
| 1 | New York City, NY | $247 |
| 2 | Phoenix, AZ | $115 |
| 3 | Las Vegas, NV | $114 |
| 4 | Austin, TX | $113 |
| 5 | Dallas, TX | $109 |
| 6 | Tucson, AZ | $109 |
| 7 | Virginia Beach, VA | $107 |
| 8 | San Antonio, TX | $101 |
| 9 | Houston, TX | $93 |
| 10 | Fort Worth, TX | $93 |
Average street rates for non-climate-controlled 10x10 units for August 2024.
Self storage market size in Virginia Beach, VA
Virginia Beach self storage market statistics
| No. of self storage units | approx. 7,004 |
| No. of self storage facilities | 78 |
| Local self storage inventory (sq. ft.) | 5,974,594 |
| Self storage sq. ft. per capita | 10.7 |
| New self storage facilities set for delivery in 2024 | 1 |
| New self storage supply set for delivery in 2024 (sq. ft.) | 59,424 |
| Average self storage rent in Virginia Beach for a standard 10x10 unit | $107 |
Virginia Beach self storage construction trends
The self storage sector has maintained an active development pipeline in recent years. In 2023 alone, about 115,226 square feet of self storage space came online in Virginia Beach, representing 1.9% of the existing inventory. Compared to the year before, self storage inventory in Virginia Beach has increased by 2%.
Currently, there are 78 self storage facilities and approx. 7,004 storage units in Virginia Beach. The local inventory encompasses 5,974,594 square feet of storage space, offering 10.7 square feet per capita.
A total of 59,424 square feet of self storage space is projected for completion in 2024, a decrease of 48.4% compared to last year.
What’s driving demand for self storage?
Quick overview of the Virginia Beach housing market
| Total no. of households | 177,046 |
| Y-o-y change in no. of households | 3.7% |
| Renter households in Virginia Beach | 62,048 |
| Homeowner households in Virginia Beach | 114,998 |
| Households with mortgages in Virginia Beach | 86,760 |
| Median number of rooms (all housing units) | 6.1 |
| Average apartment size (sq. ft.) | 971 |
| Average home size (sq. ft.) | 1,751 |
| Average apartment rent | $1,682 |
| Median home value | $294,100 |
| Working from home (% of total working population) | 9.3% |
Self storage for residential clients: key facts and figures about the Virginia Beach 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 Virginia Beach 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.
Virginia Beach is home to 62,048 renters and 114,998 homeowners. The average apartment size in Virginia Beach is 971 sq. ft. and the average Virginia Beach home size is 1,751 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 30,000 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 0 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.