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18 Feb 2026

Memphis Self Storage: Supply Moderation Offers Hope Amidst Economic Headwinds

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James McLean

Union Realtime

This week the Radius+ team dug into the Memphis, TN-MS-AR CBSA.

Historical Supply Growth in Memphis, TN-MS-AR

Memphis saw substantial supply additions from 2022 to 2024, contributing to rental rate compression. Broader economic challenges, including population decline, high crime, and high poverty, have weighed on demand. However, municipal efforts to capitalize on the region's central geographic position are underway. Major projects such as Ford's Blue Oval City and expansions at St. Jude Research Hospital are expected to attract jobs and generate storage demand. Continued rate growth will depend on supply moderation.

Memphis self storage market analysis

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