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20 May, 2025
Analysis | Latest
Why Miami Continues to Attract Self Storage Investors
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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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The Miami-Fort Lauderdale-West Palm Beach, FL CBSA is an area that has been very attractive for institutional self-storage investors due to its high population density, business-friendly tax laws, and high-income residents.

This has been amplified over the past couple of years, an article from davincivertical.com states:

“Between 2021 and 2023, Miami’s start-up scene experienced remarkable growth, with venture capital investment increasing by 200% and the city’s global startup ranking jumping from 23rd to 16th place.”

This influx of job growth has created strong demand for self-storage, and with it new supply. Despite the new supply added, this market has seen rental rates begin to climb closer to pre-pandemic levels.

Historical Supply Growth in Miami:

  • 2020 – 5% new supply added
  • 2021 – 3% new supply added
  • 2022 – 1.9% new supply added
  • 2023 – 2.9% new supply added
  • 2024 – 3.6% new supply added

Miami-Fort Lauderdale-West Palm Beach, FL CBSA