Texas Self-Storage Market Report Released by State Association

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The Texas Self Storage Association (TSSA) published the results of its fourth annual market survey, a 67-page report containing exclusive analysis and commentary by industry valuation expert Charles Ray Wilson of Self Storage Data Services Inc. The study compiles information gathered from approximately 850 Texas self-storage facilities, covering key inventory characteristics such as total number of units, rentable square footage, and average unit and facility size.
 
Data has been compiled for each of the state’s 26 largest Metropolitan Statistical Areas, with a summary for rural markets. In addition to an overview of the Texas market, the study creates a market snapshot for each MSA, listing the average asking rental rates for each of three unit sizes, traditional and climate-controlled.

The study reveals the addition of approximately 127,000 units to the market compared to the previous year. The majority of owner respondents said their facility satisfied their investment objectives, although some markets have experienced softening and occupancies, and rents have not increased in those areas. Economic occupancy in the Texas market is about the same as for the nation, and delinquency rates remain low despite the slow economy and housing crisis.

A complete copy of the survey is available for purchase to TSSA members for $200 and non-members for $300. For more information, call 888.259.4902; visit www.txssa.org.

The TSSA was established in 1986 and is a non-profit trade association dedicated to enhancing the quality of the self-storage industry in Texas. The Association provides opportunities for its approximately 2,700 members to increase their knowledge of the industry through education, research, discussion and exchange of information.

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