Marcus & Millichap Release SE Florida Self-Storage Investment Outlook

Marcus & Millichap has published its midyear 2025 Southeast Florida Self-Storage Investment Outlook. “Southeast Florida’s self-storage sector continues to benefit from robust in-migration and resilient demand, even as the pace of growth moderates,” said Harrison Rein, vice president/regional manager of Marcus & Millichap’s Fort Lauderdale office. “Vacancy remains below pre-pandemic levels, and despite elevated construction, pricing power is supported by tight housing conditions and population expansion.”

Marcus & Millichap’s Midyear Southeast Florida Self-Storage Investment Outlook provides investors with vital insight and analysis on the current state of the self-storage market, including:

• The region is projected to add 75,400 residents in 2025, led by West Palm Beach with approximately 33,000 new arrivals. Although slightly slower than the prior three years, this sustained in-migration continues to bolster self-storage demand.
• Roughly 1.85 million square feet of self-storage space is expected to deliver in 2025, growing inventory by 3.5 percent. Most construction is focused in Miami-Dade, which accounts for 60 percent of this year’s pipeline.
• Southeast Florida’s self-storage vacancy rate stands at 6.2 percent, reflecting a continued downward trend and holding below pre-pandemic norms despite ongoing construction activity.
• The average marketed rent stands at $1.53 per square foot, a modest 1.1 percent reduction amid elevated supply. Despite the dip, Southeast Florida retains the highest self-storage rents in the Southeastern U.S.
• Miami is projected to add 20,000 jobs this year—its slowest pace since the pandemic—while Fort Lauderdale is on track to gain 9,000 positions, matching last year’s total. Growth remains driven by education, health services, hospitality, manufacturing, and construction.

“With limited land availability, persistent in-migration and strong rent benchmarks, Southeast Florida continues to offer long-term value for investors,” added Rein.

Access the full report here.  

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada.  Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.