WEDNESDAY, DEC 07, 2022
Six U.S. counties with below-average amounts of self-storage space can be expected to increase their population by more than one-third in the next five years – while the available amount of self-storage space per resident declines, according to a TractIQ analysis of housing construction, business permit, and Census data.
The TractIQ analysis used population estimates based on new home construction through 2026 to find eight counties that are expected to grow by at least 33 percent. The typical U.S. resident has access to 8 square feet of self-storage space; six with less space than the national average are predicted to see declines in the per-resident availability:
Cochise County, Ariz.
Falls Church City, Va.
Fredericksburg City, Va.
Alexandria City, Va.
Archuleta County, Colo.
Cochise County is expected to grow by 59.5 percent to 202,656, faster than any other county in the nation, based on new residential construction estimates. The border county has 25 self-storage units with an average of 5.63 square feet per capita; the figure is expected to fall to 3.54 square feet per resident by 2026.
The typical household income is expected to grow by 7.6 percent in the next five years.
The Dallas-Fort Worth suburb of Wise County, Texas, is projected to increase its population 45.8 percent to 104,513 people by 2026. Located northwest of Fort Worth, Wise County has 32 self-storage facilities, providing 7.5 square feet of space for the average resident. The figure is expected to fall to 5.14 square feet per capita by 2026.
Median household income in Wise County is projected to increase by 7.4 percent by 2026.
Camden County, N.C., can be expected to increase its current population by 45.2 percent through 2026, rising to 15,869 people. The county, located about 20 miles south of Norfolk, Va., has two self-storage facilities that offer 1.65 square feet of space per resident. By 2026, the typical resident is projected to have only 1.15 square feet of self-storage space.
The typical household is expected to see its income grow by 7.6 percent over the next five years.
The Washington, D.C., suburb of Falls Church City, Va., is projected to increase its population by 36.7 percent to 20,124 people by 2026. Falls Church has one self-storage facility that provides 1.27 square feet of space for the average resident. The figure is predicted to fall to 0.93 square feet of self-storage space per person by 2026.
Falls Church City household incomes are projected to grow by 6.1 percent through 2026.
Fredericksburg City, Va., can be expected to grow to 39,972 people by 2026, a 36 percent increase. An exurb located halfway between Washington, D.C., and Richmond, Va., the county has three self-storage facilities offering 4.24 square feet of storage space per resident. The per-capita self-storage space is projected to fall to 3.12 square feet by 2026.
The typical Fredericksburg household can be expected to see its income grow by 7.5 percent in the next five years.
Another Washington, D.C., suburb, Alexandria City, Va., is projected to grow by 35.4 percent to 214,203 people by 2026. Alexandria currently has 12 self-storage facilities that provide an average of 2.72 square feet of space for each resident. The figure is expected to fall to 2.01 square feet per capita by 2026.
Median household income for Alexandria is projected to climb 7.3 percent through 2026.
Author: Frank Bass