Each month, StorTrack puts a different market under the microscope to identify self-storage trends. The featured market this month is Dearborn, Mch., is a city in Wayne County that is the seventh-largest city in the state and is the world headquarters of the Ford Motor Company. RV and boat storage developers will likely want to review self-storage data to gain a better understanding of the market and toy storage possibilities.
The square feet per capita in this market is 3.34. For comparison, Michigan‘s square feet per capita is 7.4. Out of the four self-storage stores currently operating in Dearborn, one is an REIT and the other two are medium- and small-sized operators. There are currently no planned development projects in this market, though there are 90 active projects across the state.
Rates in Dearborn have trended up in the last three months, by 18.36%. The average rate per square foot for standard, non-climate-controlled units is currently $1.68 vs $1.82 for climate-controlled units.
Find out more about the Dearborn market by reviewing the full report.