10 Jun 2025
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.
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.
