5 Reasons RV & Boat Storage is Heating Up

5 Reasons RV & Boat Storage is Heating Up

Claire Matten
Claire Matten, CCIM/SIOR
You may be worried that the demand for Boat/RV Storage will dwindle as the market cools, but below are a few reasons the boat/RV storage industry remains so bullish on its success moving forward:

1. One  out of every 12 vehicle-owning households has an RV or conversion vehicle (If the head of the household is between the ages 35-48 the number bumps to 1 in 10).

2. 55% of RV owners travel less than 200 miles per year. 40% of RV owners travel often but less than 200 miles per trip, making storage near home a necessity.

3. Nationwide, 1 in 13 households with an income of over $62,000 / year have an RV (household income is the largest measure in most boat/RV demand studies).

4. RV ownership has been embraced by the younger generation. 18-34 year-olds make up 22% of RV owners, up from 8.47% in 2018.

5. Boats/RVs tend to get passed down and maintained in families, while items in a loved one’s storage unit are often discarded.

One challenge for RV/boat owners is storage. More and more people are living in apartments and subdivisions where outdoor storage is limited or prohibited. Boat/RV Storage facilities provide a simple solution for these customers.

The outlook for Boat/RV Storage facilities is positive for Montana. Younger people have embraced the RV lifestyle. With less space to store these vehicles at their residence, demand for quality storage facilities is expected to rise, especially near larger cities like Missoula, Kalispell and Bozeman.

Montanans love their boats and RV’s. The state ranks third in spending on RV sales and services on a per capita basis, coming in at $37 per year per capita according to research by the RV Industry Association. Spending on boats and RVs in Montana is expected to increase by 13% over the next five years.