StorTrack’s featured market this month is Reston, VA. Reston is experiencing strong economic growth and population increases, fueled by its tech industry and proximity to D.C. With urbanization, rising housing density, and a high median income, Reston offers opportunities for developers to serve a growing and affluent community.
How is Reston as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.
Self Storage Market Metrics for Reston, VA
(Within 10-Minute Drive Time)
Current Supply
- There is a supply of 5.65 square feet per capita in this market. For comparison, Virginia’s square feet per capita is 8.01
- Out of the 9 self-storage facilities currently operating in Reston, six are REITs and three are large operators
- There are two new planned development projects in this market, though there are 116 active projects across the state
Rate Trends
Rates in Reston have trended upward in the last 12 months. The average rate per sq ft for a standard unit is $1.79 and climate-controlled units are currently $2.01.
Is this a good market for you to invest in?
To understand Reston’s potential as a self-storage market, view this complimentary report, giving you useful market statistics and metrics.
Additional metrics available with report purchase.
Explorer is StorTrack’s market analysis platform for self-storage operators, investors and developers.
Explorer is available for the evaluation of any primary, secondary and tertiary market in the US, Canada and the UK.
To purchase a full market report for this or any other market, please visit www.StoTrack.com/products/explorer
Sign up for free to start evaluating self-storage markets.
