Storage unit rental rates appear to have plateaued, staying flat for the fourth year in a row according to new data released by SpareFoot.
The average price of a storage unit in Texas has hovered around $84 per month since 2014. Read more about Texas’ self-storage statistics here.
In 2010, the average price of a unit was less than $65, since then rental rates for storage have seen just over a 6 percent increase year-over-year until 2013. The biggest jump was from 2012 to 2013, where prices went from just over $71 to almost $78, an increase of 9.5 percent.
During that same period, all of Texas’ metro areas saw a similar increases with most continuing to rise after 2014, with the exception of Austin. Surprisingly, Austin has been and remains the most expensive market for storage, with an average monthly price of $102 this year, up slightly from $99 in 2016.
Fort Worth saw the biggest decrease over the past year, dropping down to $84 from around $91 per month in 2017. Dallas, which is the country’s leader in new self-storage development, saw prices dip slightly as well—by just over 3 percent from 2016 to 2017.