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Self-Storage Market Update: Spotlight on the Southeast Region

Moody’s Analytics CRE

January 27, 2023

1 Min Read
Self-Storage Market Update: Spotlight on the Southeast Region

Self-storage sector performance is not only highly connected with population growth and household formation, it shows strong seasonality. The Southeast, which is the second largest region we track in this industry and a popular pandemic-migration destination, led the year-over-year (YoY) vacancy decline in 2021. However, it started to lose momentum in 2022; and with a -1.0% YoY vacancy decline in 3Q, it slipped to third place after the Southwest and Northeast. Vacancy usually goes up in Q3 and Q4, and this was true in 2022. Asking rent in the Southeast followed a similar recovery path and has been leading the nation’s growth, but the quarter-over-quarter change returned to seasonal decline in Q3.

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Moody’s Analytics CRE works alongside members of the self-storage industry to increase the availability of key data that drives business decisions in this rapidly growing asset class. Learn more and get involved at cre.moodysanalytics.com/self-storage-partner-program.

About the Author(s)

Moody’s Analytics CRE

Moody’s Analytics CRE

Moody’s Analytics CRE works alongside members of the self-storage industry to increase the availability of key data that drives business decisions in this rapidly growing asset class.

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