The Phoenix Metropolitan Area remains one of the defining self-storage stories of the Sun Belt, where rapid population growth, heavy development activity, and sustained investor interest continue to converge in a single, high-velocity market. Currently, the Greater Phoenix metro ranks among the top five metros nationally for new construction, with new supply highly concentrated in the urban core. While development is spread across the region, the City of Phoenix specifically accounts for nearly 30% of all projects underway within the broader metropolitan boundaries, highlighting the competitive intensity shaping the entire area’s next phase.
To better understand its potential as a self-storage investment, we used StorTrack’s Explorer platform to dig into key market metrics.
Market Snapshot for Phoenix, AZ
Source: StorTrack market data for the City of Phoenix, Arizona, within city limits.
Investment momentum across the Phoenix Metropolitan Area has remained equally notable. The region was one of the most active transaction markets in 2025, with the City of Phoenix recording the metro’s largest and most expensive deals, totaling over $30 million in disclosed sales volume. While advertised pricing has softened, with rates down roughly 17% over the past 12 months, the metro continues to attract operators and capital given its scale, liquidity, and demographic tailwinds. That interest is bolstered by the City of Phoenix’s status as the fifth most populous city in the U.S. and the nation’s largest state capital, where net migration and a diversifying economy support regional household formation. Even amid strong housing demand, the entire metro remains in expansion mode, reinforcing Greater Phoenix’s position as a leading market where development and storage demand remain tightly linked.
Key Market Metrics
- Sq Ft per Capita: 6.77
- REIT Presence: 84 of 179 stores are REIT-operated
- Population: 1,663,992
- Rental Households: 43%
Average Storage Rates in Phoenix, AZ
Data reflects average self-storage rates across all unit types, excluding parking, over the past 12 months.
📍Analyze Phoenix—and Beyond
Want deeper insights on Phoenix or other markets? Explore facility counts, rate trends, demographic shifts, new development activity and more with StorTrack’s Explorer platform.
