Dallas-Fort Worth reigns as self-storage capital of the U.S.
Dallas-Fort Worth really, really, really loves his stuff. New data from the self-storage marketplace StorageCafé shows that DFW had more self-storage space in 2020 than any other US metropolitan area – despite being the fourth largest subway by population.
StorageCafé had more than 65 million square feet of storage space in North Texas in 2020. To put this into perspective, this area corresponds to around 360 typical Walmart supercenters or more than 35,500 typical Michaels craft stores. That’s roughly 8.6 square feet for every man, woman, and child in DFW.
In 2020 alone, DFW added around 1.8 million square meters of self-storage space, according to data from StorageCafé published on February 15, after 2.4 million in 2019 and 3.1 million in 2018 Phoenix, for the amount of new self-storage space that was completed in the last year.
Looking at the construction data differently, DFW welcomed 7.3 million square meters of self-storage space over the past three years. That corresponds to more than 2,800 newly built houses in DFW.
But wait – there is more space on the way.
StorageCafé predicts DFW will add 2.6 million square feet of self-storage space this year, with only New York City adding another 4.4 million square feet.
Why are consumers in DFW and elsewhere so obsessed with self-storage?
“Demand is usually driven by death, divorce, downsizing, and the like. A cultural aversion to ownership separation has also helped warehouse owners thrive, ”the Wall Street Journal noted in 2018.
Self-storage developers cannot be held responsible for chasing potential new customers. DFW gained nearly 1.35 million residents from 2010 to 2019, with an increase of nearly 1.4 million residents expected from 2020 to 2029.