Houston at a Glance (2026)
Houston is one of the country's perennial top self-storage markets — nation-leading demand, but a large and well-supplied metro, so submarket selection decides returns.
| Metric | Houston |
|---|---|
| Metro population (25-mi) | ~5.8M, ~$85,000 median income |
| 2024–25 net in-migration | +126,720 — #1 in the U.S. by number |
| Metro supply | ~9.2 net rentable sf per capita (above ~7 balanced) |
| Under construction | 45 facilities |
| National REIT ownership | ~60% of space |
Demand: Structural and Nation-Leading
Houston added more residents than any U.S. metro in 2024–25. Energy, the Texas Medical Center, the port, and broad in-migration drive durable storage demand.
Supply Has Kept Pace
At about 9.2 net rentable sf per capita metro-wide — with 45 facilities under construction — Houston is well-supplied. The best risk-adjusted opportunities sit in fast-growing suburban corridors (Katy, Cypress, Conroe, Pearland) and in value-add or undermanaged assets, not the well-covered inner loop.
What Facilities Are Trading At
Recent Texas/Oklahoma closings averaged roughly $86/sf and 95% of asking, at about a 5.7% in-place cap (~7%+ stabilized). Well-located, stabilized assets trade tighter; softer or smaller ones wider.
Bottom Line
Houston rewards growth-corridor and value-add strategies. (See our Texas & Oklahoma 2026 outlook and Dallas–Fort Worth report.)
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Supply and demographics reflect 2026 Tractiq metro-level data; pricing reflects recent regional closings and varies by submarket.