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29 Jun, 2025
Analysis | Latest
Florida’s Storage Hotspot Sees Rates Flatten Fast
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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 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.

Florida Rates