Are RV storage markets hyper local?

The national average can hide huge local differences. The RV and boat storage data shows Los Angeles parking rents up 12.8 percent year over year, New York-Connecticut up 11.4 percent, and Chicago up 7.7 percent. Meanwhile, several high-supply markets saw much slower growth. That proves the market is not one-size-fits-all. In urban metros, scarcity can drive rent growth. In markets with lots of new dedicated parking supply, rent growth can slow. For buyers, the diligence question is simple: is this a scarcity market or a new-supply market? A powerful strategy can be to look for markets where there are ordinances against parking RVs in your driveway or on the street. The presence of a prohibitive ordinance can provide a powerful demand driver for RV storage.