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10 Jun, 2025
Analysis | Latest
Why Tampa’s Storage Rates Aren’t Dropping
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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 Radius+ team dove into the Tampa-St. Petersburg-Clearwater, FL CBSA. Tampa has seen tremendous economic growth that has led to strong rental rate trends.

Tampa Rates

Despite adding 4.6% new supply in 2024- increased demand for Self Storage due to the extreme weather conditions led to a pump in asking rates advertised by the REITs.

While this is not uncommon to see – the rental rates seemed to maintain their altitude signaling strong demand in the market overall. This can be attributed to Tampa’s growing finance, insurance and real estate industries combined with its rapidly growing population.