Miami-Dade’s self-storage surge a boom for real estate | Real Estate
Curious why you’ve been seeing more and more self-storage facilities during the past decade?
South Florida’s rapid storage growth isn’t just about moving boxes — it reflects deeper lifestyle and economic shifts in one of the country’s most dynamic regions. From Gen Z renters to downsizing retirees, more people are turning to (especially) climate-controlled storage to make urban living work.
A new national report from RentCafe Self Storage shows that three of the 10 fastest-growing self storage markets in the U.S. are right here in Florida and, interestingly, Miami-Dade County’s suburban areas are outpacing Florida’s larger cities in self storage inventory growth.
Over the past decade, for example, North Miami’s self storage inventory surged nearly 200%, while Homestead added more than 382,000 square feet of new storage space (a 177% increase). North Miami Beach also grew by 178%, putting Miami-Dade on the national radar as one of the fastest-growing self storage markets in the U.S.
Among Florida’s largest urban hubs, Miami itself expanded its inventory by 77% — well ahead of Orlando (63%) and Jacksonville (33%).
So, what’s driving the spike?
• Population influx and high housing costs
• Smaller living spaces fueling demand for extra storage
• A new generation of renters (especially Gen Z) embracing storage as a lifestyle tool — with half planning to rent units in the near future
• Average street rates (costs of self-storage units) reaching $221/month in North Miami, signaling high-value real estate pressure
According to another report, North Miami has the county’s highest average street rate compared to other nearby cities, including Miramar ($186), Miami ($171), Florida City ($164), Miami Gardens ($159), Homestead ($151), Hialeah ($148), Aventura ($143), Doral ($130), and Opa-Locka ($128).
The self-storage boom has noticeably taken off in fast-growing suburbs and retirement communities — places where rapid population growth, high housing costs, and shifting lifestyles have fueled an ideal environment for large-scale storage development.
Here are the top three self-storage areas in Florida with national rankings:
• Wesley Chapel (#1): Storage capacity expanded 672% from 2014 to 2024 — starting with just 76,000 sq. ft. and now nearing 587,000 sq. ft. Even with that growth, the area still offers only 4.6 sq. ft. per capita, below the national benchmark — suggesting room for continued expansion as the population (up 53%) continues to grow.
• Wildwood (#2): Located at the edge of The Villages — the world’s largest retirement community — Wildwood saw a 443% spike in inventory, now totaling 715,000 sq. ft. Roughly 82% of all local storage space was built in the past decade. Climate-controlled units are in high demand due to the region’s humid weather.
• Middleburg (#7): In the Jacksonville metro area, Middleburg’s self-storage inventory grew 319%, now totaling 485,000 sq. ft. The rise is closely tied to the growth of remote work and rising housing pressures in Northeast Florida.
You can view the full report and methodology by clicking here.
