The Las Vegas area is seeing a self-storage boom, as the metro ranks No. 9 for new space in the country, according to a new report.
More than 1.2 million square feet of new self-storage space is expected to come online this year, expanding inventory by 5.4 percent, according to a new report from StorageCafe.
At the same time, the market is already relatively well supplied at about 10.2 square feet per capita, which is starting to show in pricing, the rent said. Rents are down 1.6 percent year-over-year to an average of $126 per month, pointing to a more competitive environment as new supply meets more moderate demand.
