Rental rates for self-storage units in Texas have been relatively flat for four consecutive years, after an 18 percent spike between 2012 and 2014, according to data released this week by SpareFoot, an online marketplace for self-storage consumers. The average monthly rental rate across the state this year is $83.67, a 1 percent decline from $84.50 last year. By comparison, rates increased about 6 percent annually between 2010 and 2013.
Within local markets, Austin has commanded the highest self-storage rental rates since 2012. Its 2017 average of $102.14 is well ahead of Dallas, which placed second at $91.11. Austin rates grew 3 percent year over year, increasing from $99.03 to 102.14, though the 2017 figure is down from a peak price of $104.95 in 2014.
Houston and San Antonio rates grew about 2 percent year over year, while Dallas prices fell 3 percent and Fort Worth plummeted 7 percent from $90.92 to $84.64. Fort Worth fell from third to fifth in average unit price among the five major markets.
The most popular unit size across the state was a tie between a 5-by-10 and 10-by-10, according to the source.
SpareFoot also recently released rental-rate data for Arizona and California.
SpareFoot.com helps consumers find and reserve self-storage units, with comparison shopping tools that show real-time availability and exclusive deals. With a network of more than 12,000 storage facilities ranging from mom-and-pop operations to real estate investment trusts, the company reaches prospective storage renters though partnerships with brands including SelfStorage.com and Penske Truck Rental.
Sources:
- SpareFoot: Texas Self-Storage Facts & Figures
- SpareFoot Storage Beat: Self-storage Prices in Texas Remain Flat for Fourth Year in a Row
