28 Oct 2024
San Antonio is a prominent CBSA within the State of Texas for historical and geographical reasons. The San Antonio market has grown significantly in past years due to the increase in housing and major employers notably in the Tech and Health Science industries. According to News4SanAntonio the city's population is expected to grow to over 4 Million by 2050!
These factors have created a great deal of interest from Self Storage developers. San Antonio entered the development cycle later than other major Texas regions. However, significant supply growth in recent years has put downward pressure on asking rates. As the population continues to grow rapidly, demand for self-storage is expected to increase.
This may be offset by the large amount of storage in the development pipeline. The San Antonio CBSA has almost 10% new supply (relative to total supply) under construction. Which could suppress asking rates for the near future.
Source:
https://news4sanantonio.com/news/local/as-san-antonio-grows-so-will-the-tech-and-science-sectors-of-the-economy
