Even as more Denverites move into smaller multi-family units, departing with stuff is proving hard, and self-storage businesses are booming.
Denver, Aurora and Lakewood together have built 7 million square feet of storage between 2012 and 2021, while adding over 79,000 new apartments, according to data from RentCafe.
Since 2020, newly built self-storage has slowed down from 2 million square feet in 2018 to 500,000 in 2021.
The city offers nearly 7 square feet per person -- what is considered a "mature market," which is why the rate of new builds is slowing down.
Non-climate-controlled units are averaging out at $136 a month; compare that to the national average of $130 a month.
Nationwide, in the past decade, the country has added 350 million square feet of storage space along with 3.1 million new apartments.
Dallas, Houston and New York City are seeing the fastest growth, while Denver finds itself in ninth for self-storage and tenth for multi-unit home construction.
So if you have something you need to store, there's probably room for it.
