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Self Storage Statistics for 2018

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While most major cities today have at least one self-storage facility available, it’s a relatively new industry. As humans have continued to consume more, they have also needed more space to store their belongings.

Self-storage operations trace their roots back to England, when British citizens would safeguard their valuables in the banks before long voyages. Overcrowded vaults led to the need for larger storage facilities - usually warehouses. As warehouses prices rose, storage facility owners were forced to look into more economical solutions.
Source: SSA

The first self-storage facility, as we know them today, was established in Texas in the mid 1960's and rented space at .15 cents per square foot/month. It was so successful that the concept quickly spread across the U.S. and Canada - and the rest is history!

Storage Industry Data

The typical size of a storage unit facility is 2.5 to 5 acres, with 46,000 sq. ft. of rentable space on average. Facility sizes range from 10,000 to 100,000+ square feet.
Source: SSA

The total amount of self-storage space in the U.S. totals 2.3B sq. ft. That is equal to 82.5 square miles. If you combined all the self-storage facilities in the U.S., they would be almost the size of Las Vegas (83.3 square miles).
Source: Statistic Brain

There are 48,500 storage units in the U.S. There are more self-storage units in the U.S. than McDonald's and Starbucks locations combined.
Source: Huffington Post

Annual self storage revenue in the U.S. was $36B in 2015.
Source: SSA
That's twice as much revenue as the Global Music Industry ($15.7B).
Source: IFPI

Or enough to buy 360 flights into space with Space Adventures at $100M per seat.
Source: Space.com

The self storage industry employs 172,000 workers in the United States.
Source: Statistic Brain

8.96 % of U.S. households currently rent a self-storage unit.
Source: Statistic Brain

The average price of a storage unit auction is $425, with about 155,000 auctioned annually. That's $65M in storage units auctioned annually.
Source: SSA

67% of self-storage renters live in single-family homes. Only 27% live in apartments. Surprisingly, most of these renters in SF homes have a garage and 33% also have a basement in their home.
Source: SSA

A majority of self-storage renters rent long term, as 52% of those surveyed said they rented their storage unit for one year or more, and around 13% rented storage for less than three months.
Source: SSA

The markets with the most storage units being built are:
1 - New York
2 - Denver - Aurora
3 - Miami - Fort Lauderdale - Miami Beach
4 - Phoenix - Mesa - Scottsdale
5 - Charlotte - Gastonia - Concord
Source: Self-Storage Performance Quarterly

The most expensive markets to rent a 10x10 storage unit in are:
1 - San Francisco-Oakland-Fremont: $160/month
2 - Los Angeles-Long Beach-Santa Ana: $153/month
3 - San Jose-Sunnyvale-Santa Clara: $153/month
4 - New York-Newark-Edison: $137/month
5 - San Diego-Carlsbad-San Marcos, CA: $136/month
Source: Self-Storage Performance Quarterly

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Self Storage Statistics for 2018 | Simply Self Storage Self Storage Statistics for 2018 | Simply Self Storage Self Storage Statistics for 2018 | Simply Self Storage

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