Self Storage Exclusives
Stay up to date with exclusive self storage stories, original reporting and emerging industry trends on construction, rents, sales and more.
Denver Self Storage Street Rates Up 6% Despite Increased Competition
The Mile High City has been a high flyer for a while, offering great attractions plus employment prospects to anyone making it their home. And in response to a population increase of more than 21% between 2019-2020, the Denver self storage sector has grown. We asked a local operator about the state of the industry there, and they told us about stiff competition but also about the worth of compassion and a variety of services at this time.
2020 Self Storage Facility Sales Activity: Sales Slightly Down But Prices Still Rising
Like other real estate sectors, the US self storage industry experienced the ups and downs of 2020. However, by year end, it eventually proved that the reputation it had built for itself during the last recession as a resilient sector is still valid. Adjustments indeed had to be made, with both concessions and extra safety measures adopted by most operators to ensure close-to-normal operations. But demand continued to be strong, emerging from both traditional sources associated with life-altering events like moving and downsizing as well as new ones such as businesses which needed to re-organize work environments. This allowed the industry to ride out the pandemic-induced challenges better than most.
How Much Does Self Storage Really Cost? A Breakdown By States And Cities
The self storage industry continues to expand in the United States, answering customers’ needs for safe and affordable storage space. Yardi Matrix(opens in new tab) data shows that there are currently about 1.4 billion square feet of self storage space in the US, and about 190 million square feet, or around 13%, were built over the last five years alone.
Self Storage Done Properly Is Doing Fantastic, Says Industry Professional
The year we just ended was complicated and challenging for the entire society, people and businesses alike. Some sectors of the economy were more affected by the pandemic than others, particularly those in hospitality, tourism, and other service industries. Real estate, on the other hand, managed to navigate last year better than most economic sectors, with self storage emerging as one of the most resilient industries in the real estate world.
The Most Popular Items People Put In Self Storage, State By State
Self storage remains a popular service for Americans — about a third of the respondents of a recent survey(opens in new tab) said they are using self storage, or have used it in the past, and an additional 11% are planning to use it in the future. The industry saw tremendous growth in recent years — currently, there are over 1.4 billion square feet of storage space in the US, according to Yardi Matrix. About 190 million square feet, or 13% of that, were built over the past five years alone.
Online Solutions, Perks Help Honolulu Self Storage Navigate New Market Challenges
Honolulu is the most expensive city for self storage among the country’s top 100 largest cities. The monthly street rate for a non-climate controlled, 10×10 storage unit in Honolulu hovers around $276, more than double the national average for the same type of unit. According to the latest National Self Storage Report from Yardi Matrix, national street rates for standard 10×10 storage units sit at $116 per month.
Online Procedures And Fewer Vacates Keep San Diego Self Storage Buoyant
San Diego boasts not only a great climate and the world’s largest naval fleet, but its diverse and advanced industries keep the economy comparatively buoyant. Anyone moving here to take advantage of this — and San Diegans who want to maximize their lifestyles — can benefit particularly from the self storage in the city, so we talked to a local provider to see how they can help.
Chicago Self Storage Sees More Suburbanites And RVs
Chicago, famously the Windy City, weathers all manner of circumstances with its can-do attitude. And the local self storage sector is there to help too, whether residents need to move to a new home, perhaps to downsize, or simply to store precious belongings in an economical manner. We asked a leading self storage provider to tell us how the industry in the city is doing right now.
Austin TX Self Storage Adapts And Stays Strong
Austin offers many advantages to its residents, and its strong economy and job market have encouraged its self storage sector to grow over the years. To find out how the industry is doing in the city right now, we asked a leading local self storage provider. They explained how they have adapted to the challenges presented by the current pandemic, enabling them to successfully respond to customers’ changing needs. It’s also there for more positive experiences, whether renovating Austin fixer-uppers(opens in new tab) or just making space at home when the family grows.
Who Is Renting Self Storage in the US? Baby Boomers Ahead in the Generational Storage Wars
People’s lifestyles and their attitude towards housing have changed a lot in the last decade. Many delay marrying and starting a family(opens in new tab), but still want to live in good-quality homes that offer every desirable convenience – including expansive, uncluttered layouts. Moreover, as incomes tended to rise(opens in new tab), spending power also allowed us to live big and own more —and the need for extra storage goes hand-in-hand with that, as the more you own, the stronger the desire to keep things organized and safe. Self storage is also strongly connected to life events and necessities. Whether you’re moving to a different city in search of a better job, downsizing and in need of a safe place for some of your belongings, owning too much stuff for the size of your home(opens in new tab), living in multigenerational households where every square foot counts, or running a business requiring temporary storage options for paperwork or office supplies, the self storage industry is positioned to provide a solution.
What to Look For in a San Francisco Storage Unit When You Want to Expand Your Space at Home
It’s no secret that San Francisco is an expensive place to live – the average rent for an apartment in the metro area now hovers around $3,000 per month, according to Yardi Matrix. And obviously, the bigger the apartment, the pricier it gets. So how can you maximize space in a San Francisco home when square footage comes at a premium? A solution that will allow you to still love your place and the location, without too much financial pressure, is to rent a smaller apartment and keep some of your stuff in self storage.