Exploring the Self-Storage Demand Boom in the Hudson Valley

As the Hudson Valley continues to attract new residents and businesses, demand for self-storage facilities has surged. Nationally, the self-storage industry is valued at over $51 billion, with the U.S. seeing an average occupancy rate of 91% in 2023. In Hudson Valley towns like Kingston, Poughkeepsie, and Middletown, occupancy rates are similarly strong, and rental prices have steadily risen as locals seek extra storage space.

Local Statistics on Self-Storage Demand In Poughkeepsie alone, demand for self-storage units has increased by 8% year-over-year, while in Newburgh, rental rates have gone up by 6% due to limited housing options and storage availability. Nationally, the average size per rented unit is around 100 square feet, and Hudson Valley facilities are filling up even quicker as both households and businesses seek storage options.

Key Insights for Investors and Sellers

• High Occupancy Rates: Self-storage occupancy rates in Hudson Valley are among the highest in suburban New York, particularly in areas like Kingston and Middletown.

• Revenue Growth: Industry projections suggest that self-storage revenue will grow by 5-7% annually through 2027, and Hudson Valley facilities are well-positioned for this growth.

Conclusion With rising demand and high occupancy rates, Hudson Valley self-storage facilities offer lucrative opportunities for sellers and investors alike.

Looking to Invest or Sell a Self-Storage Facility in the Hudson Valley? Whether you’re looking to enter the market or sell an existing property, Birchwood Property is ready to connect you with the right partners. Contact us to discuss your next steps.