July 22, 2021
Please see below for the latest self storage market update for the Houston & Greater Houston area, brought to you by CRD Realty.
SUPPLY
EAST of I-45
Completions – During the 2nd quarter of 2021, the East side of Houston/Greater Houston has seen 2 completions year to date totaling 145,525 SF bringing total SF developed on the East side to 25,987,416 SF. Q2 of 2020 saw 0 completions.
Planned – As of the end of the 2nd quarter of 2021, the East side of Houston/Greater Houston has 5 planned developments totaling 366,684 SF.
Prospective – As of the end of the 2nd quarter of 2021, the East side of Houston/Greater Houston has 1 prospective developments/expansion totaling 24,000 SF.
Under Construction – As of the end of the 2nd quarter of 2021, the East side of Houston/Greater Houston has 5 properties under construction totaling 378,288 SF.
WEST of I-45
Completions – During the 2nd quarter of 2021, the West side of Houston/Greater Houston has seen 1 completion totaling 107,040 SF bringing total SF developed on the West side to 47,224,189 SF. Q1 of 2020 saw 2 completions totaling 281,380 SF.
Planned – As of the end of the 2nd quarter of 2021, the West side of Houston/Greater Houston has 9 planned developments totaling 645,198 SF.
Prospective – As of the end of the 2nd quarter of 2021, the West side of Houston/Greater Houston has 4 prospective developments totaling 361,510 SF.
Under Construction – As of the end of the 2nd quarter of 2021, the West side of Houston/Greater Houston has 4 properties under construction totaling 320,249 SF.
RATES
EAST of I-45
Non-Climate 10X10 – All three classes of properties (A, B & C) have seen a dramatic increase in rates over the last 12 months with an average increase of 9.88% from $81.00 to $89.00. For Q2 2021, Non-Climate 10X10 rates increased an average of 2.24% from $87.00 to $89.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen an astounding increase over the past 12 months with an average increase of 17.53% from $97.00 to $114.00. The largest gain was seen by Class C properties which grew an astounding 60.20%. For Q2 2021, Climate 10X10 rates increased an average of 4.39% from $109.00 to $114.00.
WEST of I-45
Non-Climate 10X10 – All three classes of properties (A, B & C) have seen a dramatic increase over the past 12 months with an average increase of 12.20% from $82.00 to $892.00. For Q2 2021, Non-Climate 10X10 rates increased an average of 1.08% from $91.00 to $92.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen an astounding increase over the past 12 months with an average increase of 18.00% from $100.00 to $118.00. For Q2 2021, Climate 10X10 rates increased an average of 3.39% from $114.00 to $118.00.
SOLD
Sold properties for ALL of Houston/Greater Houston are as follows:
*We obtained the information shared in this self storage market update from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. We include projections, opinions, assumptions or estimates for example only.
« Previous Next »