RV Storage Investment: Trends, Demand, and Opportunities in 2025
- Alketa
- 18 hours ago
- 32 min read
Rising Demand for RV and Boat Storage Nationwide
The United States is experiencing a booming demand for recreational vehicle (RV) and boat storage, driven by record levels of RV ownership and usage. A recent industry survey found RV ownership at an all-time high of 11.2 million U.S. households, a 62% increase over the past two decades. Moreover, an additional 9.6 million families plan to purchase an RV within five years, indicating that the pool of RV owners – and thus vehicles needing storage – will continue to grow. This rise in ownership was accelerated by the pandemic-era shift toward domestic, road-trip travel: RV shipments hit record highs in 2021, and although sales saw a brief correction, they rebounded with 2024 shipments up 6.6% and early 2025 shipments surging 21.9% year-over-year. Boat sales have similarly remained strong, with new powerboat volumes holding near historic highs. Altogether, Americans are buying and using recreational vehicles at elevated rates, which directly translates to a parallel need for secure storage when those assets aren’t on the road.
This demand is evident in related industries as well. Campgrounds and RV parks – a proxy for RV usage intensity – have seen a wave of new campers and higher occupancy in recent years. IBISWorld data shows campground/RV park revenue grew at an 8.3% annual rate from 2020–2025 to reach $10.9 billion, boosted by work-from-home travelers during COVID. While growth normalized post-pandemic, younger generations have embraced the RV lifestyle: Generation Z now makes up about one-quarter of campers, and peer-to-peer RV rental platforms (e.g. Outdoorsy, RVshare) have lowered the entry barrier for new RV users. These trends “fuel occupancy rates at campsites and RV parks,” according to IBISWorld. In fact, campground and RV park revenue is forecast to keep rising at ~1.9% annually, reaching $11.9 billion within five years – a sign that robust RV usage (and the need to store those RVs) isn’t abating.
At the same time, overall specialized storage needs are on the rise. IBISWorld’s Specialized Storage & Warehousing report notes that as the economy expands, demand for all kinds of storage will grow. This industry – which spans bulk petroleum tanks, lumber yards, document archives, and other niche storage – has expanded slowly in recent years (0.7% CAGR since 2020) but is projected to accelerate to 3.0% annual growth through 2029, reaching about $11.0 billion in U.S. revenue. While much of this segment is unrelated to RVs, it underscores a broader trend: space for storing large or specialized assets is increasingly valuable. Notably, “other” storage services within this segment (a $1.8 billion slice) likely include vehicle and boat storage, reflecting how holding space for big-ticket personal assets (from classic cars to motorhomes) has become a significant business.
In short, the surge in RV and boat ownership is outpacing the available storage infrastructure. Every RV or trailer sold represents a unit that needs parking when not in use – often for months at a time during off-seasons or between trips. Many owners cannot store these oversized vehicles at home due to space or regulations, and thus turn to commercial facilities. Industry analysts have taken note: one estimate projects the global RV and boat storage market will grow from $2.6 billion in 2024 to nearly $6 billion by 2032, a robust ~12.5% compound annual growth rate. Investors and developers are increasingly viewing this niche as a growth market, distinct from traditional self-storage. Unlike general self-storage (which can be impacted by decluttering trends or e-commerce), RV/boat storage demand is directly tied to demographics and lifestyle shifts that have strong momentum – retirees hitting the road, families embracing camping, and younger people accessing RVs via rentals.
Occupancy Trends and Supply Shortages
One clear indicator of opportunity in RV storage is the exceptionally high occupancy rates and shortage of available spaces in many markets. Simply put, demand far exceeds supply in numerous regions. A recent industry publication observed that “many states across the nation are experiencing a shortage of RV storage space,” creating favorable conditions for new developments and expansions. Facilities often report waitlists or near-full occupancy, especially in areas with dense RV ownership. For example, an analysis by Toy Storage Nation (an RV/boat storage research group) found that as of early 2025 nearly 1,800 dedicated RV/boat storage facilities existed in the U.S., but even with new projects underway, only 4.4% of total needed space was added in the last year – “showing demand is still outpacing supply”. In other words, 95%+ of demand growth is going unmet by new supply, further tightening occupancy at existing sites.
Several factors contribute to these high occupancy trends. One is the aforementioned growth in the sheer number of RVs and boats owned. Another is parking restrictions in residential areas: Many urban and suburban neighborhoods simply don’t allow large RVs or trailers to be parked long-term on streets or driveways. Homeowners’ associations (HOAs) and city ordinances increasingly ban or limit RV parking in front of homes. As one industry source notes, “today’s homeowners…under HOAs that restrict parking RVs outside…[is] exacerbating a need for safe, secure places to store these assets.” This means even affluent RV owners with space on their property may be forced to find off-site storage due to community rules. In many suburban markets, off-site storage isn’t just a convenience – it’s a necessity.
Furthermore, urbanization and land constraints are playing a role. In big cities and their outskirts, land values and competing uses make it challenging to dedicate large open lots for RV storage. The Parking Lots & Garages industry, for instance, faces headwinds from ridesharing and public transit reducing personal car use. Yet even as urban parking demand shifts, there is little overlap – a downtown parking garage cannot easily accommodate a 35-foot motorhome. As free parking in cities becomes scarcer and traditional parking operators see slower growth, RV storage fulfills a completely different need in typically less central locations. In effect, RV storage has its own geography: often on the fringe of metro areas or in exurban corridors where land is more available. These fringe locations are exactly where many RV owners need a spot to stash the rig when not adventuring.
The result is that in numerous metro areas, occupancy rates at RV storage facilities average well above 90%, with some facilities perpetually full. This consistent demand underpins reliable cash flows for facility owners – a key attraction for investors. According to industry experts, RV and boat storage tenants are also very sticky and reliable. They tend to rent long-term (often year-round storage) and have low default rates, since they’re protecting high-value vehicles and “prioritize keeping payments current” (delinquency rates are often under 1% in this sector). Unlike a self-storage renter who might abandon a unit of old furniture, an RV owner isn’t going to walk away from a $100k vehicle over a missed payment. This dynamic leads to stable occupancy and minimal turnover. In fact, some operators report that once an RV owner secures a good storage spot, they hold onto it indefinitely, given how hard it can be to find another. All these factors – high utilization, long tenures, low credit risk – combine to make RV storage facilities a particularly resilient real estate investment.
Growth Drivers: Demographics and Trends Fueling Demand
Digging deeper, several macro trends are driving the growth of RV storage and making the sector especially compelling:
Rising RV Ownership Across Generations: As noted, U.S. RV ownership has hit record levels, spanning retirees to younger enthusiasts. The large baby boomer cohort (born 1946–1964) is a major force – many boomers are now in or approaching retirement, with both the time and disposable income to travel. In 2020, the largest share of RV buyers was in the 45–64 age range, and as these individuals retire, they often invest in expensive RVs for leisure travel. They also tend to have the means to pay for premium storage to protect their vehicles. Simultaneously, younger generations are entering the RV world in big numbers. Millennials and Gen Z have shown increasing interest in the outdoors and road trips. A Kampgrounds of America report cited by IBISWorld found nearly 22% of annual campers are now Gen Z or Millennial, and many of these younger adults are trying RVing via rentals before buying. The proliferation of peer-to-peer RV rental platforms (such as Outdoorsy and RVshare) has made RVs accessible without full ownership. IBISWorld observes that “peer-to-peer rental sites have encouraged [young people] to begin camping or traveling via RV since rentals are more accessible than purchasing an RV outright”. This trend is essentially creating new RV users and future owners, further expanding the customer base for storage. Whether an RV is owned or rented, it still needs a parking spot between trips – a need often filled by storage facilities (in fact, some RV rental owners use storage lots to house their fleet).
Retiring Boomers and Extended Travel: The aging of baby boomers is not only increasing RV purchases but also changing usage patterns. Many retirees embark on long-term trips (e.g. touring the country seasonally) and then store their RV for part of the year. Sunbelt states see waves of “snowbirds” who live in an RV for winter and store it in summer. The freedom of remote work has also enabled some pre-retirees to travel more. This all feeds demand for seasonal or year-round storage. Additionally, as boomers downsize from larger homes, they may lose onsite space to park an RV – again turning to commercial storage. This demographic group tends to prefer secure, hassle-free storage and is willing to pay for quality. As one industry source notes, older RV owners with higher-end rigs want to protect their investment, often choosing covered or indoor facilities even at a premium.
Parking Restrictions and Urbanization: As mentioned, local regulations are a significant demand catalyst. A growing share of Americans live in HOA-governed communities or multi-family housing (apartments/condos) where storing a 30-foot camper or boat trailer is infeasible. Even in rural areas, some towns ban parking an RV on street for extended periods. These restrictions push owners into commercial storage by default. Moreover, the general trend of urbanization means more RV owners reside in suburbs or cities rather than on large rural properties, so they lack private land to keep big vehicles. The underserved nature of this demand is clear when you consider that if even a fraction of the 11.2 million RV-owning households need off-site storage, it far exceeds the current supply of facilities. It’s not surprising that one self-storage commentator mused, “if all 11.2 million RV households require off-site storage, there’s certainly no shortage of opportunity.”
Peer-to-Peer Rentals and Sharing Economy: On the other side of the rental trend, many RV owners are now renting out their rigs for income when they’re not using them. Platforms like Outdoorsy not only let campers find RVs to rent, but also enable RV owners to monetize idle time. This has a subtle but important effect on storage: owners who rent their RVs still need a secure place to hand off and store the vehicle between rentals. Some storage facilities even cater to these needs with services like cleaning, maintenance, or easy pick-up/drop-off access for renters. The rise of the “Airbnb of RVs” concept is thus another factor keeping storage demand robust, as RVs are being used more days per year (either by owners or renters), but still require a home base when not on the road.
Lifestyle and Outdoor Recreation Boom: Beyond RVs, boat ownership and other recreational “toys” have grown as Americans embrace outdoor recreation. Many RV storage sites also accommodate boats, trailers, ATVs, food trucks, and more. The post-2020 interest in camping, boating, and road trips has remained elevated. For instance, the U.S. saw 40 million people go RV camping in a year, and national park visitation has been breaking records. All this outdoor enthusiasm translates to more people investing in recreation vehicles – and needing places to keep them safe.
In summary, the demand drivers for RV/boat storage are multi-faceted but all point one direction: upward. We have a growing, passionate customer base (from wealthy retirees to adventure-seeking millennials) combined with structural factors (housing constraints, travel trends) that virtually guarantee high utilization of storage facilities for the foreseeable future. Little wonder that traditional self-storage investors are now turning their attention to this segment. According to industry insiders, the sector has historically been fragmented with many mom-and-pop operators, but now larger investors are “drawn by growing demand, strong returns and limited competition”, accelerating consolidation and development in RV storage.
Indoor vs. Outdoor vs. Covered Storage: Design and ROI Differences
Not all RV storage facilities are created equal. Broadly, there are three formats a facility can offer: outdoor (uncovered) parking, covered parking, and indoor enclosed storage. Each comes with different architectural considerations, operational costs, and profit implications. Investors need to understand these differences, as they affect construction budgets, achievable rental rates, occupancy levels, and even exit cap rates. Below is an overview of each type:
Outdoor Storage (Uncovered): This is the simplest format – essentially an open parking lot for RVs, trailers, and boats. The facility is usually a fenced, secured yard with marked spaces (often on gravel or asphalt). Capex (capital expenditure) is lowest for outdoor storage because you’re mainly investing in land prep, paving, fencing, security systems, and lighting. You can pack many vehicles on a given parcel (though you must allow drive aisles for maneuvering large rigs). Outdoor storage is the most common offering and tends to have the lowest rental rates. Depending on location and vehicle size, an outdoor RV spot might rent for, say, $50–$150 per month. In general, outdoor storage is the most affordable option for customers and therefore often reaches full occupancy quickly – every RV owner looking to save money will consider an outdoor lot. From an investor perspective, outdoor-only facilities can yield high returns relative to cost (since build costs are low), but they also face higher cap rates (lower valuation multiples) compared to premium facilities. The business is relatively straightforward and low-maintenance (no buildings to upkeep or climate control to run), which helps margins. However, the downside is exposure – customers’ vehicles are fully exposed to sun, rain, snow, and dust. In climates with harsh weather or scorching sun, this can deter some high-end RV owners who are willing to pay more for protection. Additionally, because the barriers to entry are low (any suitable lot can be converted to RV storage with modest investment), a pure outdoor facility might face competition if a similar lot opens nearby. In short, outdoor storage offers low-cost, high-occupancy, high-yield operation, but with less competitive differentiation and higher perceived risk (both for customers worried about weather/security and for investors regarding competition).
Covered Storage: This is a hybrid approach – vehicles are parked outdoors but under a roof or canopy. Covered RV storage typically involves metal canopies (like carports on steroids) tall enough to shelter even large Class A motorhomes. Some facilities use solar panel canopies, doubling the roof as a power generator. The construction cost is moderate – more than open lot, but far less than full buildings. Covered spaces protect RVs and boats from direct sun, UV damage, rain, and hail, which is a huge draw in sunbelt states or regions with frequent precipitation. For example, an RV under a roof will avoid the paint fade, roof cracking, and interior heat damage that plague vehicles in open lots. Rental rates for covered spots are correspondingly higher than uncovered – often about 1.5× the price of outdoor. Industry sources indicate covered RV parking might range roughly $125–$200 per month, versus $75–$150 for uncovered in the same market. Customers with mid-range budgets or those storing their RV long-term (several seasons) often find covered storage the best value – it significantly reduces weather wear-and-tear for a moderate price uptick. From an investor’s view, covered storage can be a sweet spot: construction is cost-efficient (you maximize the number of rentable spaces under each structure) and operational costs remain low (no climate control, just lighting and minimal maintenance). Yet you can charge appreciably higher rents than outdoor and attract a more upscale clientele. Occupancy for covered units tends to be very high wherever offered, since supply is limited (many older facilities are only outdoor) and demand from RV owners for weather protection is strong. Facilities offering covered or canopy storage often enjoy faster lease-up and tenant loyalty. Cap rates for a well-located covered RV storage property are usually a bit lower (i.e. better valuation) than a bare-bones outdoor lot, reflecting the higher income and slightly more complex infrastructure – but they may not reach the low cap rates of fully indoor projects (since risk is still a touch higher than climate-controlled buildings). Key risks/challenges for covered storage include ensuring the structures can withstand local wind/snow loads and managing a larger land footprint (covered parking is less space-efficient than multi-level indoor garages). Overall, covered storage offers an excellent balance: significantly higher revenue potential than open lots with only moderate additional investment.
Indoor RV Storage (Enclosed): This is the premium option – storing RVs in enclosed buildings or large garages. Indoor facilities can be single large warehouses that accommodate many vehicles in one space, or they can be subdivided into individual garage-style units (like oversized self-storage units sized for RVs). Some facilities even offer private RV condo storage units that owners can purchase. The capital cost for indoor storage is highest, as it requires constructing big structures with high ceilings (14-16+ feet clearance), large doors, ventilation, possibly fire suppression, and sometimes climate control. Indoor storage provides maximum protection and security: RVs are completely shielded from weather (no UV, no rain or snow), kept at stable temperatures (preventing winterization issues or excessive heat damage), and secured behind locked doors – often with sophisticated surveillance and access control. This level of service commands the highest rental rates. Depending on market and unit size, indoor RV storage can cost anywhere from roughly $150 up to $400+ per month. In some high-demand metro areas or for luxury climate-controlled units, rates can even approach $500/month for the largest motorhomes. Customers paying for indoor storage are typically those with expensive rigs (or boats) who want to protect their asset’s value. And indeed, it can pay off for them – one source noted an RV kept indoors might retain 60–70% of its value after 5 years, versus ~40% if left outside in the elements. For investors, indoor RV storage is attractive because it can generate the highest revenue per square foot and often attracts wealthier, stable clientele. These facilities are sometimes called “Class A” RV storage, featuring amenities like valet service, battery charging, wash bays, dump stations, lounges, etc., on top of the enclosed parking. Such features can further justify premium rents and create a differentiated product. Because the cash flows are seen as very secure (high demand, low defaults, affluent customers), cap rates for indoor RV storage tend to be the lowest – meaning these properties can command high sale prices relative to their income. Some recent sales of top-tier covered/enclosed RV storage have shown cap rate compression approaching that of traditional self-storage or even core real estate. However, the higher development cost and complexity mean investors must carefully assess market demand – not every region can fill large indoor facilities at high rates. Generally, indoor projects thrive in areas with many high-end RVs/boats (e.g. near wealthy metro suburbs, major lakes, or coastal areas) and where weather extremes or HOA rules push owners to seek the very best storage. When done right, Class A indoor RV storage offers stable, long-term returns with minimal churn. Operationally, these facilities have higher expenses (utilities, building maintenance, possibly staff), but also more revenue streams (some charge for electric hookups, valet services, etc.). The risk profile is relatively low – tenants are locked into leases to protect an asset they deeply care about, and the facility itself is a specialized asset not easily replicated without significant capital.
To summarize these differences, consider the following comparison of key investment metrics:
Table: Comparison of RV Storage Facility Types – Costs, Revenues, and Investment Characteristics. (Monthly rate ranges are approximate and vary by region; cap rates are qualitative relative comparisons.)
As shown above, each format offers a different risk-reward profile. Many new developments incorporate a mix of these storage types to tap multiple customer segments – for example, a facility might have an enclosed building for indoor units plus a section of covered parking and some open lot spaces. This tiered approach captures high-end clients while also filling every bit of land with an income-producing spot. It’s worth noting that even covered and indoor facilities usually maintain some outdoor spots (for oversize vehicles or budget-conscious customers), ensuring no potential renter is turned away. From an architectural standpoint, the design considerations include providing wide drive aisles (big RVs need generous turning radius), tall clearances, security systems, and often amenities like wash stations, dump stations, electrical hookups, and even clubhouses or lounges for owners. These value-add features can differentiate a facility and justify top-of-market rents.
Financial Performance and Investment Returns
For investors, the financial appeal of RV storage lies in its combination of strong income, relatively low operating costs, and promising growth prospects. Key financial benchmarks and metrics to consider include:
Occupancy and Stabilization: As mentioned, well-located RV storage facilities tend to lease up quickly and stay near fully occupied. It’s not uncommon to achieve stabilization (e.g. >90% occupancy) within a year or two of opening, especially if there is pent-up local demand. Many facilities operate with waitlists or seasonal fluctuations that still average out to very high utilization annually. High occupancy drives consistent cash flow and reduces the marketing needed to attract new tenants. (It also underscores the undersupply – customers often pre-reserve space before a new facility even finishes construction.) Because turnover is low – tenants might store for years – the cost of maintaining occupancy is lower than in apartments or regular self-storage where churn is higher.
Rental Rates and Revenue: Monthly rental rates for RV/boat storage vary by location and type (as detailed above). Generally, they are higher than standard self-storage unit rates on a per-unit basis (since an RV space is larger than a typical storage unit), but when normalized per square foot, outdoor RV space can be cheaper than climate-controlled self-storage. The revenue profile is thus closely tied to the format: indoor units bring in the most per square foot, outdoor the least. A facility’s blend of space types will determine overall revenue per occupied square foot. Importantly, many RV storage operations benefit from ancillary revenue as well – services like detailing, vehicle maintenance, insurance sales, or retail of RV supplies can add to the income. However, even without add-ons, the base rental revenue can be quite strong relative to the development cost. Toy Storage Nation experts note that RV/boat storage assets “often generate higher revenue relative to build-cost, due to oversized unit pricing, while operating costs tend to be lower than conventional storage.” This means profit margins can be very healthy.
Operating Costs: Compared to other real estate, RV storage facilities are not very management-intensive. There are no tenants living on-site (reducing liability and management headaches), and aside from the premium indoor facilities, most do not require extensive climate control or daily staffing. Many facilities operate with a kiosk or fully remotely via gated keypad access and online payments. Insurance, property tax, and maintenance (landscaping, pavement repairs, cleaning) are the primary expenses. For covered and indoor properties, maintenance is higher (roof, structure upkeep, utilities for lighting or HVAC), but still the service provided is essentially open parking space. According to IBISWorld benchmarks for related storage industries, rent and utilities combined often account for a modest portion of revenue, and profit margins can be strong. In RV storage, delinquency is extremely low (as noted, <1%), so bad debt expense is negligible. Overall, well-run facilities can achieve profit margins comparable to or above those in self-storage. This resiliency (sometimes called “recession-resistant” demand) is because people with RVs generally continue to pay for storage in downturns – the RV is their cherished asset, and storage fees are relatively low in absolute terms.
Cap Rates and Valuation: Capitalization rates for RV storage properties currently vary by class and location, but the trend is downward (compressing) as more investors flock to the space. A higher cap rate indicates higher risk or less investor demand, whereas lower cap rates mean investors are willing to pay more for each dollar of NOI (net operating income). Historically, RV storage, being a niche often run by small operators, traded at higher cap rates than mainstream self-storage or apartments. However, recent sales of large “Class A” RV storage facilities have seen cap rates in the single digits, often on par with traditional self-storage assets. In high-growth corridors, cap rates in the 6%–7% range (or even lower for trophy assets) have been reported, whereas more average facilities might trade around 8%–9%. The key drivers lowering cap rates are limited supply (barriers to entry in many markets) and the perception of stable, long-term cash flows. As one report noted, new high-quality RV storage developments are “beginning to set new benchmarks for pricing and cap rate compression in their markets.” In practical terms, if you significantly increase a facility’s NOI by raising occupancy and rates, you not only get that income, but the property’s value might grow even more due to cap rate compression. For example, a facility netting $300k NOI at an 8.5% cap is worth $3.53 million, but if investors start valuing such assets at a 7% cap, that same NOI would make it worth $4.29 million – a substantial valuation gain on top of the higher income. This upside is attracting many new investors, including some institutional players, into aggregating or developing RV storage facilities.
ROI and Payback: From a development perspective, the return on investment (ROI) for building RV storage can be quite attractive, especially for covered and outdoor projects. Construction timelines are short (many projects complete in under a year), and lease-up can be swift given latent demand. Case studies have shown that a well-planned facility can achieve positive cash flow quickly and potentially recoup initial investment in a reasonable period (exact ROI depends on financing and local factors). The high profit margins and low default rates contribute to solid ROI. Moreover, some investors employ strategies like phasing (building in stages as units fill) to optimize cash flow. With the current growth drivers, many see RV storage as a high-yield real estate play that still has a lot of runway before it matures.
Benchmarks: In terms of financial benchmarks, IBISWorld’s Campgrounds & RV Parks report provides some context: it notes an average industry profit margin around 11.3% in 2025 for that sector. But storage facilities, particularly unmanned ones, can achieve higher margins. The Specialized Storage industry report indicates profit margins fluctuating but generally healthy in storage services thanks to diverse demand. While those reports cover broader categories, an investor can reasonably target margins north of 30-40% for a stabilized RV storage operation, depending on the type (indoor margins a bit lower due to expenses, outdoor margins very high due to minimal expenses). Of course, each project’s returns will differ, but overall the sector is known for reliable cash flows and relatively low capital expenditure after initial build (as RV spaces don’t require constant refurbishing like say, an apartment unit would).
Bottom line: The financial case for RV storage investments is grounded in steady cash flow, low bad debt, and the ability to command premium rents for premium offerings. As long as occupancy remains high – and all signs indicate it will, given demand trends – investors can achieve favorable yields. In many ways, RV/boat storage combines the best aspects of different asset classes: the simplicity and resilience of self-storage, the strong demographics-driven demand (like senior housing or healthcare real estate), and the possibility to add value through amenities and better management (like commercial properties). No investment is without risk, but the risk profile here (mostly centered on supply catching up too quickly or local economic downturns) is moderated by the broad, national nature of the RV boom.
Regional Trends and High-Demand Markets
Demand for RV and boat storage is strong nationwide, but it is especially pronounced in certain regions. Generally, Sun Belt states and areas with high outdoor recreation activity are leading the growth. Let’s highlight a few key regions and states – notably California, Florida, Texas, and Arizona – that exemplify the trend (along with others following closely behind):
California: As both a populous state and a major outdoors market, California has a large concentration of RV owners – an estimated 11% of U.S. RV shipments by value are sold in California. The state’s diverse geography (beaches, mountains, deserts) and year-round camping climate encourage RV use. However, California also presents challenges: land is expensive, urban areas are dense, and many neighborhoods (especially in Southern California) have strict parking ordinances. This creates immense demand for off-site storage. In metropolitan areas like Los Angeles, San Diego, and the Bay Area, RV storage facilities are often located on the fringes of the metro (Inland Empire, Central Valley, etc.) and even there occupancy is high. Coastal boat owners similarly seek storage during off-season or when trailer-boating to different locations. California’s high property costs mean indoor storage commands a premium and not every developer pursues it, but the wealth of many RV owners there sustains even very upscale facilities (some offering private RV “garages” or club amenities). In short, California’s mix of affluence + RV culture + land scarcity makes it a hotbed for RV storage projects – if you can secure a parcel, the customers are likely waiting.
Florida: With its warm climate and status as a retirement haven, Florida is arguably ground zero for RV and boat activity. Thousands of “snowbirds” travel to Florida in RVs each winter, and the state has a thriving RV park and resort scene. It also has one of the nation’s highest boat ownership rates due to abundant waterways. All this translates into high storage demand, especially in summer months when many RVs and boats are laid up during hurricane season. Florida’s flat geography allows for large facilities, and covered storage is extremely popular to shield vehicles from intense sun and rain. Areas around major cities (Tampa, Orlando, Miami) and retirement communities (e.g. The Villages) have seen strong uptake of RV storage. Additionally, Florida’s frequent HOAs and deed-restricted communities mean even those with single-family homes often cannot park an RV or boat on their property, fueling the need for third-party storage. Investors focus on central and south Florida in particular, where year-round demand (boats in summer, RVs in winter) keeps facilities busy. Florida’s demographics (lots of baby boomers and wealthy vacationers) also support higher-end indoor facilities. It’s no surprise that Florida is consistently listed among the highest-demand states for RV/boat storage.
Texas: The Lone Star State is a huge market for RVs – in fact, Texas ranks in the top three states for RV sales. Culturally, RV travel and camping are popular among Texans, and the state’s vast size encourages road trips. Texas also has major metro areas (Houston, Dallas-Fort Worth, Austin, San Antonio) where many RV owners live in suburbs with limited space. Outside city centers, land is more available, so we see many storage facilities on the outskirts of town or along highways leading to lake and hill country destinations. Boat storage is significant in Texas too, given the prevalence of boating on lakes and the Gulf Coast. The climate varies – some parts get intense sun and heat (arguing for covered storage), others occasional hail storms (roof protection valued), and northern parts get some winter freezes (indoor storage to avoid winterizing). Texas has comparatively fewer zoning restrictions than, say, California, which means it’s a bit easier to develop RV storage; as a result, the market is active but demand still outpaces supply in many growing suburbs. Investors are keen on Texas also because of its economic and population growth – more people moving in, buying RVs/boats for the wide-open spaces, etc. High-growth corridors around Austin and Dallas, for example, remain ripe for new facilities. Cap rates in Texas for storage properties tend to be slightly higher than coastal California (reflecting somewhat lower rents and cheaper land), but the volume of potential customers is enormous.
Arizona: Arizona combines some attributes of California and Florida: a big retiree population (lots of RV enthusiasts), a dry climate (RV/boat owners want sun protection for their vehicles), and a tradition of RV travel (many Arizonans head north in summer and return in winter). The Phoenix metro area and other cities like Tucson and Yuma see large seasonal inflows of RVs. Arizona’s famous desert resorts and national parks also attract RV tourism. One particular factor in Arizona is the prevalence of 55+ retirement communities – these often have HOA rules against on-property RV parking, so retirees living there must rent storage elsewhere. Demand is especially high in the Phoenix suburbs (e.g. Mesa, where many RV owners live). Covered storage is in high demand due to the brutal sun – operators advertise protection from UV as a key selling point. According to industry analyses, Arizona is among the top states for boat/RV storage growth, often mentioned alongside FL, TX, and CA. The state also has a number of large RV storage complexes that include amenities like wash bays and dump stations to cater to long-term users. With continued population growth and popularity among RVers, Arizona will likely remain a strong market.
Other Notable Regions: Outside the “big four” states above, there are several other regional hotspots:
Colorado and the Mountain West: Colorado, Utah, Idaho, etc., have high RV ownership per capita (people there love camping). Winters force many RVs into hibernation for months, necessitating storage (often indoor or covered to protect from snow). Colorado was specifically cited as a high-demand state by Toy Storage Nation. The Mountain West also has many boats, ATVs, and trailers – all boosting storage needs.
The Carolinas and Southeast: The Carolinas, Georgia, and Tennessee are seeing a mix of retirees and younger families with RVs, plus a lot of boating (especially in lake regions). Growing suburbs in these states often lack RV storage capacity. Humid climates with lots of rain make covered storage attractive there.
Midwest Lake Regions: States around the Great Lakes and other large lake regions (Michigan, Wisconsin, Minnesota, Ohio) have huge numbers of boats and a decent number of RVs. Given the harsh winters, indoor storage is at a premium – many marinas and storage yards fill up every fall with boats and campers. While these areas might be more seasonal, the storage demand is year-round (boats in winter, RVs in winter; then some swap out in summer).
Pacific Northwest: Washington and Oregon have many RV and boat owners but also face land constraints near cities. Rainy weather pushes people toward covered/indoor solutions. These states weren’t specifically highlighted in national reports, but local developers report strong demand, especially around Seattle and Portland metro.
Northeast Corridor: The Northeast U.S. has relatively fewer RVs per capita (due to urbanization and weather), but boat ownership is significant (think of all the New England and Mid-Atlantic boaters). Indoor storage for boats (and the RVs that do exist) is common in winter. High land costs make RV storage development trickier, but in rural parts of upstate New York, Pennsylvania, etc., it can do well.
In general, Sunbelt and coastal states lead in absolute demand, but underserved pockets exist throughout the country. One common thread is that areas with rapid suburban growth often don’t immediately build RV storage to keep up, so a few years later there’s a glut of RV-owning residents with nowhere to park. Savvy investors look for these patterns – e.g., a metro area with rising RV registrations but only a handful of aging storage lots. Also, tourism-heavy areas (near national parks, beaches, etc.) can support facilities that serve transient users or second-home owners who leave an RV/boat near their vacation spot.
To quantify regional differences: one data point from the RV industry is that Indiana (the manufacturing hub) ships the most RVs, but California (≈$2.2B in RV sales) and Texas (≈$1.8B) are top consumer markets. Meanwhile, Florida is often cited as having one of the largest RV owner populations (some estimates say 10%+ of U.S. RVs end up registered in Florida). These align with the high-demand states we’ve discussed. Toy Storage Nation specifically highlights Florida, Texas, Arizona, California, Colorado, and the Carolinas as leading areas for Class A RV storage growth. For investors, this means these regions are prime targets for new development or acquisition, although competition may be growing. In less obvious markets, opportunities still exist to be an early entrant. For instance, a smaller city that’s a gateway to outdoor recreation might have lots of RVs but only one old storage yard – a new modern facility there could quickly capture the market.
In planning a project, it’s crucial to study local conditions: How many RVs/boats are registered in the county? Are new housing developments HOA-restricted? What’s the driving distance to nearest lakes, campgrounds, or attractions? These factors inform whether a site will draw customers. But broadly, the U.S. regional outlook for RV storage is strong across the board, with the Sunbelt and recreational hubs at the forefront.
5-Year Outlook and Forecast for RV Storage Investments
Looking ahead, the next five years appear highly promising for the RV storage segment. Multiple forecasts and indicators support a continued growth trajectory:
Continued RV/Boat Sales and Ownership Growth: The RV Industry Association (RVIA) projects sustained interest in RVing, even if unit sales fluctuate with the economy. While 2022–2023 saw a normalization from the pandemic spike, industry analysts expect RV shipments to stabilize at high levels or resume moderate growth into the late 2020s. Likewise, the National Marine Manufacturers Association expects boat sales to remain strong with new innovations attracting buyers. Crucially, a large share of future RV buyers are younger – Go RVing reports 84% of current young RV owners plan to buy another RV within 5 years. As those purchases materialize, each new RV will likely need storage. The pipeline of potential customers is continually refilling.
Demographic Momentum: Baby Boomers will remain a key force in RV ownership through the end of this decade. The youngest boomers are in their early 60s in 2025, meaning we have at least 10-15 years of heavy RV usage from this cohort before age begins to limit their driving. Meanwhile, Gen Xers are entering their prime RV years (late 40s to 50s), and Millennials are not far behind. The cultural shift that made RVing “cool” again for a new generation (helped by #vanlife and social media) suggests the lifestyle has multi-generational support. With retirements continuing and remote work enabling travel, the outlook is for steady or rising utilization of RVs (and thus storage need) over the next 5+ years. The U.S. population aging will also increase the number of retirees who choose to spend part of the year traveling.
Supply Pipeline and Occupancy: On the supply side, more developers are entering the RV storage space – but current data suggests it’s not enough to saturate the market in the near future. As of 2025, only 56 new dedicated facilities were under construction nationwide with another 162 in planning. Even if all these materialize, it’s a drop in the bucket relative to unmet demand (remember, 1,800 existing facilities vs. 11 million RVs). Some conversion of existing storage or parking facilities may occur, but there are practical limits (you can’t easily convert a low-clearance parking garage to RV storage, for example). Therefore, occupancy rates are expected to remain high at existing and new facilities alike. Industry observers believe that demand will absorb new supply for the foreseeable future; in fact, the slow pace of new development (only ~4.4% space growth last year) indicates developers are still catching up, not overbuilding. We anticipate occupancy in quality facilities will stay in the 90%+ range on average over the next five years, barring any major economic downturn that drastically reduces RV usage.
Revenue Growth and Rates: With high occupancy, facility operators should have pricing power. Many are likely to implement gradual rate increases (especially for coveted covered and indoor spots) in line with inflation or higher. If inflation moderates, nominal rate growth might be modest, but if operating costs rise, owners can pass some costs on given the scarcity of alternatives for renters. We’ve seen that historically, self-storage rental rates tend to track above inflation in high-demand markets, and a similar pattern may hold for RV storage. IBISWorld’s outlook for the broader Parking Lots & Garages industry, for instance, is muted due to rideshare competition – but no such demand erosion is present for RV storage. In fact, parking operators facing headwinds might repurpose or sell properties to RV storage specialists, further validating the sector.
Industry Revenue Forecast: While there isn’t a standalone IBISWorld category for “RV storage” (since it spans self-storage and specialized storage sectors), we can glean insights from related forecasts. The earlier noted projection of the RV/boat storage market nearly doubling to $6 billion by 2032 implies a very rapid expansion. Even focusing on a 5-year window: if the market is $2.6B in 2024, by 2029 it could be roughly $4B at that 12.5% CAGR. That far outpaces the overall economy. Similarly, IBISWorld’s forecast for Specialized Storage & Warehousing (3% CAGR to 2029) suggests a healthy environment for storage services in general. We can reasonably expect high-single-digit to low-double-digit annual revenue growth in the RV storage niche for the next five years. This will come from a mix of new capacity and rental rate increases. For individual facilities, revenue growth can be even higher if they start from a lease-up phase and reach stabilization.
Institutional Interest and Consolidation: The next five years will also likely see increased institutional investment in this asset class. As more data on performance becomes available and more success stories are told, larger funds and REITs may allocate capital to RV storage portfolios. This could lead to cap rate compression (good for developers looking to exit at a profit) and possibly some roll-up strategies where big players buy out mom-and-pop operators. An influx of capital tends to spur more development as well. However, given the local nature of storage, it’s expected that regional players will still dominate, and new entrants will carefully pick markets to avoid overbuilding. The presence of more professional operators should also elevate the quality of facilities (more indoor and covered offerings, better marketing), thereby attracting even more customers who might have been on the fence.
External Risks: Of course, no outlook is complete without considering risks. One risk would be an economic recession that hits discretionary spending – RV sales could dip, and a small fraction of owners might decide storage is an unnecessary expense (perhaps parking an RV at a friend’s farm for free, etc.). During the 2008 recession, RV industry sales plummeted, but interestingly, the self-storage sector (including RV storage) held up relatively well as people still needed storage for existing assets. Another risk is fuel prices or environmental policies; if gas were to skyrocket or urban areas start cracking down on gas guzzlers, RV usage might be curbed. However, many RV owners are quite committed to the lifestyle and would likely hold onto their vehicles, continuing to store them even if used slightly less. There’s also the wildcard of electric RVs in the future (prototypes are in development) – which could make RVing even more attractive (quiet, eco-friendly) and broaden the user base, but that’s beyond the 5-year horizon in terms of significant market share. On balance, the tailwinds (demographics, lifestyle trends, supply gap) appear to outweigh the headwinds for the mid-term outlook.
In summary, the 5-year forecast for RV storage is robust growth in both demand and supply, with demand likely staying a step ahead. We expect rising revenues, high occupancy, and strong returns to characterize the sector through 2030. By 2030, RV storage may emerge from a “niche” to a more mainstream real estate investment category, much like self-storage did in the 2000s. Being ahead of that curve – in 2025 – gives investors a chance to capitalize on favorable conditions now.
Conclusion: Why Now is the Time to Invest in RV Storage
All signs point to now being an opportune moment for investors and developers to explore RV and boat storage projects. The confluence of record-high RV ownership, generational shifts, supply shortages, and stable financial performance makes this niche extremely attractive. Unlike some trendy investments that come and go, RV storage is rooted in fundamental demographic and behavioral trends that have longevity: people want to travel domestically, enjoy the outdoors, and they invest in vehicles to do so – those vehicles must be stored somewhere. As we’ve detailed, many regions have a chronic undersupply of quality storage options, leading to high occupancy and strong pricing power for existing facilities.
From an investor’s standpoint, RV storage offers an appealing risk-reward balance. It has the cash flow stability (and low default rates) akin to multifamily or self-storage, yet often at higher cap rates/yields (because the asset class is earlier in its lifecycle). There is also a chance for value creation – through development, expansion, or simply improving an outdated facility – given that many current facilities are older, unimproved lots. New entrants can differentiate with covered spaces, better security, and customer amenities, quickly capturing market share from any sub-par competitors (if there even are competitors in the vicinity).
Furthermore, the sector is largely fragmented. As one report noted, it’s been “dominated by mom-and-pop operators” and is only now evolving with larger investors coming in. This means entrepreneurial investors still have room to get in and assemble portfolios or become the go-to provider in their region before the field potentially consolidates. Early movers in promising markets can establish a brand and customer loyalty that will be hard to unseat.
Now is the right time also because the trends are in a sweet spot: demand is undeniably strong, and the lessons from pandemic travel have made many Americans long-term converts to RV/boating life. Five years ago, one might have hesitated, wondering if millennials would ever care about RVs – now we have the answer (they do, especially via rentals). And ten years from now, the competitive landscape might be more crowded if everyone rushes in. In 2025, we have a scenario where the data is compelling but the market isn’t yet overbuilt or overcapitalized.
For developers, one more consideration: RV storage projects can also complement other real estate uses. For instance, integrating an RV storage component with a traditional self-storage facility can diversify income. Some investors pair RV storage with an adjacent RV dealership or service center (creating referrals and synergies). Others see large-parcel storage developments as a way to land-bank property – earning income from storage now, with the flexibility to redevelop in the distant future if land values soar. The flexibility and scalability of RV storage investments are yet another reason to act now.
Finally, as with any investment, expertise and smart planning are critical. Investors should conduct thorough market studies, consider environmental and zoning factors, and design facilities that meet modern RV owners’ expectations. This is where partnering with experienced firms can make a difference. For example, if you’re looking to get a project off the ground or enhance an existing property, collaborating with specialists in RV storage development and design – like InnoWave Studio – can provide insight and a competitive edge. In fact, InnoWave Studio’s team offers investment partnership opportunities and architectural design services tailored to innovative storage projects. Leveraging such expertise can help ensure that your RV storage venture is optimized for success, from site layout (wide aisles, efficient unit mix) to attractive, durable construction that appeals to customers and maximizes ROI.
In conclusion, RV storage investment in 2025 stands out as a compelling play in the real estate market. With Americans’ love for the RV and boating lifestyle stronger than ever and supply of storage still playing catch-up, investors who move now can secure strong returns and a foothold in this growing industry. Whether you are a seasoned real estate investor or a developer looking for the next big opportunity, consider exploring RV storage projects – and if you do, remember that aligning with knowledgeable partners (for design, construction, and operation) will help turn a good opportunity into a great, lasting success. Now is the time to park your capital in RV storage – before everyone else hops on the bandwagon.
Browse InnoWave Studio to learn more about partnership opportunities and how expert architectural design can elevate your RV storage investment from concept to completion. With the right strategy and team, your RV storage project could be the next success story in this high-growth sector.
Sources:
IBISWorld – Campgrounds & RV Parks in the US, Industry Report 72121 (May 2025): Rising demand and forecast growth in RV park revenue; impact of peer-to-peer rentals and young campers on occupancy.
IBISWorld – Parking Lots & Garages in the US, Industry Report 81293 (Feb 2025): Urban parking trends and competition from ridesharing affecting traditional parking.
IBISWorld – Specialized Storage & Warehousing in the US, Industry Report 49319 (Oct 2025): Industry size and outlook for specialized storage, indicating overall storage demand growth.
TaxFreeRV – “RV Ownership Statistics” (2023): Number of U.S. households owning RVs (11.2 million) and growth trends.
Toy Storage Nation (Z. Urow & S. Ruhlman) – Class A RV & Boat Storage Investment Trends (April 2025): RV/boat shipment increases and continued strong demand; global RV/boat storage market forecast $2.6B to $6B (2024–2032); low delinquency and high revenue per cost in RV storage; high-demand states and markets (FL, TX, AZ, CA, etc.); supply growth vs. demand (only 4.4% new space added); cap rate compression in recent RV storage deals.
Mini Storage Outlet – “10 Reasons to Invest in RV Storage Units” (2021): Shortage of RV storage in many states; increasing HOA parking restrictions driving need for off-site storage; demographics of new RV buyers (ages 45–64) and willingness to pay for protection.
Outrig – “Ultimate Guide to RV Storage Units” (2025): Definitions of indoor, covered, outdoor storage and typical monthly costs (Outdoor $75–$150, Covered $125–$200, Indoor $150–$400+); advantages of indoor (security, climate) vs. outdoor.
Moss and Fog – “Indoor vs Outdoor RV Storage Pros and Cons” (Sept 2025): Cost differentials (indoor 100-200% more expensive); impact of storage choice on RV resale value (indoor vs outdoor); security benefits of indoor (controlled access, etc.).
Carefree Covered RV Storage (Chandler, AZ) – Photo Gallery (2025): Example of a modern covered RV storage facility with amenities (illustrative image used)
