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.
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. Houston has approximately 281,000 self-storage units, with a total value of $8.4bn.