Self-storage rates are rising in Columbus, Ohio - Axios ColumbusLog InLog InAxios Columbus is an Axios company.

Self-storage rates are rising

Illustration: Allie Carl/Axios Life is all about "trying to find a place for your stuff," .There's a whole industry dedicated to it, after all — but it's getting more expensive. What's happening: Monthly rents for self-storage space have risen to record highs over the past three years, but Columbus renters are still getting a bargain, per from commercial real estate site Yardi Matrix. By the numbers: Rent for a 10-by-10-foot unit here now averages $108 per month — lower than the $140 national average and all 30 metro areas in the report.Local prices rose 1% for climate-controlled units and 4% for non-climate-controlled units between July 2021-2022.Columbus also ranked No. 7 for new storage unit construction during that time.Data: ; Chart: Axios Visuals Driving the news: Rates are soaring in cities that attracted during the pandemic, especially in the southeast and .Demand for storage skyrocketed as people cleaned out their homes — and investors noticed.They started buying up units and building new facilities as fast as they could, while jacking up rates. What they're saying: "Since everybody's on a month-to-month lease, on 30 days' notice you can raise the rent by any amount you want," self-storage investor Nick Huber says in a What we're watching: After several quarters of crazy growth, the rise in rental rates was more moderate nationwide from June to July this year, per the report. In Columbus, the rate didn't budge from month to month — a good sign for renters. Alissa's thought bubble: There are three self-storage businesses on a two-mile stretch of my street. Apparently that's not enough, because a fourth is opening any day now. Columbus, you've got a lot of stuff. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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