Self-storage and occupancy rates had just dropped in Houston. Then, Harvey hit. Now,supply and demand is driving up the need and prices.
Callbox Storage’s CEO Kyle Bainter is looking to build here and help out his hometown.
“The Houston market had been around 90%, so I expect that to certain increase due to this unforeseen event,” Bainter said.
We'll start seeing a boom in self-storage units being built. And, we’ll see an increase in their price because demand is so high following Harvey. Bainter said you can’t create storage units overnight.
“I certainly think over the next year period, there’s going to be a tight market in Houston,” said Bainter.
Houston Self Storage's general manager Maria Diaz says they've always been pretty full.
“ We were like 92, 93 percent,” Diaz said. Now, “100% with a waiting list.”
Diaz said the demand is for the biggest storage units possible.
Bainter said people generally want storage near their homes. But, with slim pickings, people might have to drive to storage units where they're available.