29 Jun 2025
This week the Radius+ team identified the market in the state of Florida that has added the most supply in 2024 relative to total supply.
The Lakeland-Winter Haven, FL CBSA added 21.7% new supply in just 2024.
This area has seen tremendous growth in the past few years - diversifying its economy which had historically been driven by citrus and phosphate into other industries like healthcare, government and tourism. With this has brought a growing population- between the years 2022 and 2023 the population of Winter Haven, FL rose by 4.07% prompting many Self Storage developers to look for deals in that market.
However the rapid increase in supply all coming online in 2024 has suppressed rates significantly as so many facilities are all in lease up at the same time.
