The construction boom of apartment units in metro Phoenix has spurred new development of self-storage units, according to a report by RentCafe.
With a strong economic performance and a growing job market, it's no wonder Phoenix keeps attracting new residents, saidPhoenix is one of only five metro areas in the country that built more than 10 million square feet of storage space over the last decade, Man said. "All those folks need places to live — and a place to store their Christmas decorations, extra furniture and paperwork that takes up space," he said."The household growth has sparked demand for both rental and for-sale housing, as well as for self-storage facilities."
In the past decade, the average apartment rent has more than doubled — from about $775 per month in 2022 to about $1,650 a month today, he said.
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