Brunswick cracks top 10 for self-storage nationwide
Graphic / Courtesy RentCafe
Brunswick was No. 4 of 10 top self-storage markets in the nation, according to a RentCafe analysis based on data from Yardi Matrix.
The Cumberland County town of Brunswick ranked No. 4 nationwide for the growth of self-storage facilities, with local inventory expanding by 348% over the past decade.
Brunswick “has quietly become one of the top self-storage boomtowns in the U.S.,” according to an analysis by an online platform called RentCafe, which compiled a list of top 10 cities with the fastest-growing self storage markets.
The self-storage industry provides little glamour, but steady returns. The clientele is diverse, ranging from small business owners who rent units to store their wares to older folks downsizing to smaller homes and people who don’t have enough room for all their cars and sports gear in their garage.
During the pandemic, Maine’s self-storage properties stayed strong as popular investments by Maine and out-of-state investors who viewed the properties as a solid buy with low-maintenance returns.
Earlier this year, the sale of four self-storage facilities involved four different sellers and three different buyers, in transactions brokered by Ben Spencer with CORE.
Development of a self-storage facility in Topsham and expansion of Brunswick facilities “has introduced a lot of square-footage to the market in a very short period of time, causing landlords to offer rent concessions to get new tenants and occupancy rates up,” Spencer told Mainebiz. “It is something that has been in conversation across many areas around the state, but I believe the market to still be strong across the state as a whole.”
Space pressures
Brunswick ranked on the top 10 list along with municipalities in Florida, Texas, North Carolina, Wisconsin, Massachusetts and California.
The trend is partly driven by in-migration during the pandemic, when Maine ranked fifth among U.S. states for the highest net migration per capita, according to the report.
“Although the influx has moderated, it continues to outpace housing availability,” the report says. “As a result, residents are increasingly turning to self-storage to compensate for limited living space and to manage the demands of a growing population.”
Brunswick’s overall growth has been further propelled by activity at Brunswick Landing, such as the development of the Atlantic Pointe residential complex with over 200 units.
Brunswick’s self-storage footprint surged by 348% from 2014 to 2024, with 78% of its total inventory built during that period.
The city now offers residents and businesses nearly three times more storage per capita than the national average, with 18.5 square feet per person, according to the report.
The growth reflects how smaller cities are adapting to long-term space pressures, the report says.
As more people moved into Maine during the pandemic and housing availability remained tight, self storage emerged as a practical solution for managing overflow in homes and businesses.
More information
Find the RentCafe rankings and analysis here.
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