StorTrack’s featured market this month is Reston, Virgina. 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? StorTrack’s Explorer looks at some metrics to analyze its potential as a self-storage investment.
Self-Storage Market Metrics for Reston
(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 advanced market analysis platform, tailored for self-storage operators, investors and developers. Explorer provides in-depth evaluations of primary, secondary, and tertiary markets across the US, Canada, Europe and UK. Sign up for free today to start analyzing self-storage markets with ease.
