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26 Nov, 2024
Analysis | Latest
Houston Self-Storage: Measured Supply, Rising Demand
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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This week the Radius+ team took a closer look at Houston TX. Houston has been touted as the “Energy Capital of the World” due to its prominence in the oil and gas industry. This has contributed to the large amounts of job and population growth throughout the years.

Houston has seen new supply decelerate in the past few years, allowing rental rates to stay higher than the other main texas metropolitan areas. If supply growth stays measured in this market we can expect rates to trend upward as Houston’s population continues to grow at a rapid rate.

New supply added relative to total supply:

  • 2017: 6.7%
  • 2018: 4.6%
  • 2019: 3.3%
  • 2020: 1.2%
  • 2021: 1.2%
  • 2022: .09%
  • 2023: 1.4%
  • 2024 YTD: 2.1%

image of Storage Rate Trends and Historical Supply Growth