Arizona sees rising demand in self storage options
As Arizona has become a top state for migration, cities such as Mesa have shown a substantial surge in interest for self storage heading into the rest of 2024.
A 2023 recent study by nationwide storage space marketplace, StorageCafe, states self storage is seeing substantial growth with 1 in 5 Americans currently utilizing self storage facilities.
The city of Mesa has recently become a place to watch for storage needs, according to StrageCafe, with Mesa experiencing an 87% year on year increase and holding its ranking as the 2nd city in Arizona most interested in self storage.
“Mesa was shown to have some of the cheapest self storage rates in the Phoenix metropolitan area, charging an average of $105 per month for a 10’x10’ non-climate-controlled unit at the close of 2023. This compares well to an equivalent figure of $117 in Phoenix itself, while in up-market Scottsdale the average is as high as $159,” explained Francis Chantree, senior editor of Storage Cafe.
“Mesa residents also score over their neighbors in terms of the amount of storage they are offered. Per capita, they have a provision of 5.83 square feet of rentable space, higher than in most other Valley of the Sun cities, and only Scottsdale offers more with 8.02 square feet per person,” added Chantree
Chantree mentions that the biggest driving factor for storage interest in Mesa is population growth and according to US Census data, Mesa’s residents grew in number by 1.63% between 2020 and 2022
The study showed that Millennials currently surpass Gen Xers when it comes to storage utilization for the first time in four years and currently made up a quarter of all storage renters.
The increase in demand has resulted in an additional 49 million square feet of new storage space, representing a 15.6% increase from the previous year.
Chantree also states that there are several factors that go into affecting a cities demand for storage such as the strongly rising job market in Arizona, meaning more people are purchasing and needing storage places, as well as cities known for its colleges such as Tempe, having their students make good use of smaller units, particularly during summer recess.
Tempe has shown a 78% year-on-year change, showing an increase in self storage searches.
Arizona is still standing out within self storage demand with Scottsdale and Tempe sitting within the top 20 US cities that saw the most interest in self storage in 2023.
The city of Scottsdale has seen a significant increase with a 104% increase in interest in self storage over the previous year. This has moved Scottsdale up from number five in cities most interested in self storage in 2022, all the way to the number one spot in 2023.
Cities that have shown growth in interest numbers are Chandler, experiencing a 46% growth compared to last year, Tucson which has seen a 42% surge, and Phoenix showing a 39% increase.
