Self-storage space is in high demand during the aftermath of Hurricane Harvey, as residents seek safe locations for their belongings. Houston’s self-storage sector had a general vacancy rate of 11.2% in Q2 2017, an increase from the 10.6% reported at the end of last year, but is at maximum capacity following the hurricane. Prior to Harvey’s arrival, the rate was predicted to rise to 12.2% by the end of 2017. Storage operators, which typically rent units ranging from 5 feet by 5 feet to as large as 10 feet by 25 feet, often report stronger demand following a natural disaster as residents look for a place to keep their belongings while they focus on rebuilding their property. ... The report also found that Houston has experienced some “significant improvements” since its peak occupancy levels in late 2016.
Self-storage space is in high demand during the aftermath of Hurricane Harvey, as residents seek safe locations for their belongings. Houston’s self-storage sector had a general vacancy rate of 11.2% in Q2 2017, an increase from the 10.6% reported at the end of last year, but is at maximum capacity following the hurricane. Prior to Harvey’s arrival, the rate was predicted to rise to 12.2% by the end of 2017. The report also found that Houston has experienced some “significant improvements” since its peak occupancy levels in late 2016.