How closely do you follow new construction in the Washington DC MSA?
There are currently 179 existing, planned, and under construction self storage facilities in the Washington DC area, totaling 15,987,180 square feet.
The Washington DC area is home to over 6 million people. DC’s population is growing at a steady rate of 1.5% each year. Last year the area had a job growth rate of 2.3% with the median income in Washington DC being $93,294, making it the highest median income in the US.
If you are self storage owner or looking to get into the business in the DC 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.