The West Coast is home to the top self-storage markets in the country. According to a new report from Storage Café, Los Angeles, San Diego, Las Vegas and Phoenix are four of the top five self-storage markets in the country, following New York—the top market for self-storage investment.

Los Angeles self-storage investment volume totaled $92 million in 2020, while San Diego totaled $67 million, Las Vegas totaled $64 million and Phoenix racked up $63 million. In total, the top five markets accounted for 20% of total self-storage investment in the US last year.

"One of the most important investment drivers specific to self-storage is the perceived dependability of the industry. It rode out the financial downturn that began in 2007 better than some other sectors, and it is hoped it will do this at other times as well. It is considered a necessary service, helping people in all manner of situations, for instance when they have to downsize or make space in their homes for enlarged households. In addition, it is thought to be easier to operate than sectors such as residential housing, which are more people-centric. These factors further boost its popularity with investors," Francis Chantree, a senior editor at Storage Café, tells GlobeSt.com.