How closely do you follow new construction in the Phoenix MSA?
There are currently 543 existing, planned, and under construction self storage facilities in the Phoenix MSA, totaling 37,777,227 square feet.
The Phoenix MSAis home to over 1.6 million, making it the 5th largest city in the US. Phoenix’s population is growing at a steady rate of 1.5% each year. Last year the area had a job growth rate of 1.7% with the median income in Phoenix being $43,960 in 2016.
If you are self storage owner or looking to get into the business in the Phoenix area it’s important to understand where new facilities are being built and planned for in order to come up with the best strategy for your business.