Self-storage rental rates plummet in Houston
HOUSTON – Local self-storage rental rates are falling faster than in other major markets, according to a Yardi Matrix report.
Rents for ten-by-ten, nonclimate-controlled units fell 3 percent to $85 in August, while climate-controlled units fell eight percent over the year.
Houston’s regional development activity as a percentage of existing stock totaled 4.2 percent in September, well below the national average of 9.4 percent.
Across the U.S., August asking rates fell by 1.7 percent year over year to $116 for ten-by-ten, nonclimate-controlled units.
Meanwhile, climate-controlled units of that size saw a 2.9 percent decrease.
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Source: Houston Chronicle
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