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rizona's real estate market has experienced remarkable growth, with Phoenix emerging as one of the most sought-after places to live in the US. The city's resilience post-pandemic, combined with its vibrant entertainment scene and strong job market, has driven unprecedented demand for housing. However, this rapid growth has come at a cost, with affordability concerns and overcrowding taking a toll on the city's character.

    Phoenix's population surged 9% between 2013 and 2023, outpacing Houston's 5.2% growth over the same period. This influx of new residents has sparked a construction boom, with single-family homes and multifamily units being built at record-breaking rates. The city now ranks as the second-most active real estate development market in the US.

    As cities become increasingly crowded, many are turning to suburban areas for a quieter lifestyle and more affordable housing options. Suburbs like Queen Creek have seen staggering growth, with 123% increases in housing inventory and population. Arizona's suburbs offer roomier apartments, with Buckeye boasting an average size of 1,409 square feet – more than double the national average.

    However, uneven housing growth has led to affordability concerns, with prices increasing relentlessly despite steady development efforts. Gilbert, for example, has seen a 66.55% increase in local housing stock but still struggles with middle housing shortages, exacerbating the affordability crisis.

    The self-storage industry has stepped in to meet the growing demand for space, with one in five Americans renting storage units. Phoenix's high moving activity and smaller apartment sizes have created particularly high demand, driving searches for storage up by over 300% between 2019 and 2022. The city has added over 11 million square feet of storage space in the past five decades, helping keep rental rates below the national average.

    As Arizona adapts to its growing population, self-storage has become an essential part of the story, meeting the rising demand for extra space. With its mix of affordable housing and a strong economy, Arizona is well-positioned for continued growth in the years ahead.