Extra storage is a necessity for 20% of the American population, which responds to a consumerist, even hoarding, lifestyle; So much so that 2/3 of the demand for these spaces responds to personal, non-commercial use.
The growth rate of the storage industry in the United States is projected at 2.37% annually for the period between 2024 and 2029; a value close to the increase in GDP, which reached 3%.
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The growth rate of the storage industry in the United States It is projected at 2.37% annually for the period between 2024 and 2029; a value close to the increase in GDP which reached 3%. This is due to the consumerist lifestyle that Americans maintain and the great demographic mobility. In addition, the hobby of collecting objects of material or sentimental value is added, and even extreme cases of hoarders.
He 13% of the US population moves within the country each yearaccording to data from Geographic Mobility Report from the US Census Bureau. This dynamic implies a prolific real estate market in terms of housing, but also a growing demand for storage spaces by people who prioritize better weather conditions over space in their homes.
In this sense, Florida is the state that stands out for receiving the largest number of migrants in search of better conditions for your lifestyle. Called the “Sunshine State,” where the weather is pleasant all year round, it holds the top spots in WalletHub’s ranking of the best cities to buy your first home.
“The expansion that Miami is experiencing is transforming the city. Today it is one of the most coveted destinations, so the real estate market faces a challenge: lack of space. “It is an excellent opportunity for the development of self-storage, an industry that at the national level is growing almost at the same rate as GDP.”says Marcos Victorica, CEO of BAS Storage, creator of the “Condo Storage” concept for the subdivision of units. Florida is the state with the most construction or conversion projects of buildings for storage, in 2024.
The growing demand for housing in the favorite state for families to purchase their first property encourages the construction of homes with fewer square meters. The self-storage service becomes essential, since allows efficient use of space on different levels depending on the arrangement of the storage spaces. “Demand is catching up with supply, today it exceeds 92% occupancy. In the North American lifestyle, storage is an essential service in any urban center, such as an airport or a gas station,” explains Victorica.
In the United States, two-thirds of the demand for storage space is for personal useunlike what happens in other countries where commercial use is the majority. The consumerist lifestyle is such that, according to the Wall Street Journal, Citizens are willing to pay more for storage than the real value of the products.
Collectors, hoarders and fans of antiques or family heirlooms are some of the most frequent customers of this market. This service allows them to keep their most emotionally valued belongings, even if they do not have the space in their home, and avoid conflicts in their homes.
Source: Ambito
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