StorTrack’s featured market this month is Hampton, VA. This is an independent city in Virginia, and home to Hampton University, a university with a student population of 3,500. It’s part of the Virginia Beach-Norfolk-Newport News, VA-NC MSA.
How is Hampton as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to find out the potential as a self-storage investment.
Self Storage Market Metrics for Hampton, VA
Current Supply
There is 7.13 square feet per capita in this market. For comparison, Virginia’s square footage per capita is 7.38. Of the 17 self storage stores currently operating in Hampton, 7 of them are REITs. There are currently no planned development projects in this market, though there are 89 active projects across the state.
Rate Trends
Rates in Hampton have trended downwards in the last 12 months, by 12%. The average rate per sq ft for standard, non-climate controlled units is currently $1.54 and $2.24 for climate controlled units.
View the Market Report for Hampton, VA
Is this a good market for you to invest in? To understand Hampton’s potential as a self-storage market, view this free report, giving you useful market statistics and metrics. Additional metrics available with report purchase.
To purchase a full market report for this or any other market, go to explorer.stortrack.com. Explorer is StorTrack’s market analysis platform for self-storage operators, investors and developers. Explorer is available for the evaluation of any primary, secondary and tertiary market in the US, Canada and the UK. Sign up free to start evaluating self-storage markets.
