StorTrack’s featured market this month is Millcreek, UT. Millcreek is a suburb nestled between Salt Lake City and South Salt Lake. The area boasts scenic views of the Wasatch Mountains and is home to Millcreek Canyon, a popular destination for outdoor enthusiasts.
How is Millcreek 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 Millcreek, UT
There is 5.22 square feet per capita in this market. For comparison, Massachusetts’s square footage per capita is 4.53. Of the 6 self storage stores currently operating in Medford, 3 of them are REITs. There are currently no planned development projects in this market, though there are 78 active projects across the state.
Rates in Medford have trended upwards in the last 12 months, by 19.67%. The average rate per sq ft for standard, non-climate controlled units is currently $2.32 and $2.01 for climate controlled units.
View the Market Report for Millcreek, UT
Is this a good market for you to invest in? To understand Millcreek’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 for free to start evaluating self-storage markets.