October 23, 2021
Please see below for the latest self storage market update for Houston and San Antonio, brought to you by CRD Realty.
SUPPLY
HOUSTON
Completions – During the 3rd quarter of 2021, Houston saw 5 completions totaling 458,799 SF bringing total SF developed in Houston to 74,131,884 SF (1,033 facilities). Q3 of 2020 saw 2 completions totaling 199,080 SF.
Planned – As of the end of the 3rd quarter of 2021, Houston has 11 planned developments totaling 897,131 SF.
Prospective – As of the end of the 3rd quarter of 2021, Houston has 9 prospective developments/expansions totaling 499,056 SF.
Under Construction – As of the end of the 3rd quarter of 2021, Houston has 10 properties under construction totaling 746,311 SF.
SAN ANTONIO
Completions – During the 3rd quarter of 2021, San Antonio has seen 1 completion totaling 118,343 SF bringing total SF developed in San Antonio to 23,015,908 SF (363 facilities). Q3 of 2020 saw 4 completions totaling 488,930 SF.
Planned – As of the end of the 3rd quarter of 2021, San Antonio has 6 planned developments totaling 286,719 SF.
Prospective – As of the end of the 3rd quarter of 2021, San Antonio has 7 prospective developments totaling 370,872 SF.
Under Construction – As of the end of the 3rd quarter of 2021, San Antonio has 6 properties under construction totaling 557,357 SF.
RATES
HOUSTON
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 11.9% from $84.00 to $94.00. For Q3 2021, Non-Climate 10X10 rates increased an average of 1.06% from $93.00 to $94.00.
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 15.38% from $104.00 to $120.00. The largest gain was seen by Class C properties which grew an astounding 18.56%. For Q3 2021, Climate 10X10 rates decreased slightly by an average of .80% from $121.00 to $120.00.
SAN ANTONIO
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 10.31% from $97.00 to $107.00. For Q3 2021, Non-Climate 10X10 rates increased an average of .90% from $106.00 to $107.00.
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 10.34% from $116.00 to $128.00. For Q3 2021, Climate 10X10 rates increased an average of .70% from $127.00 to $128.00.
SOLD
Sold properties for 2021 Q3 are as follows:
*We obtained the information shared in this 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.
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