Self Storage Exclusives
Stay up to date with exclusive self storage stories, original reporting and emerging industry trends on construction, rents, sales and more.
The South And Mountain West Are Outpacing The Nation For Self Storage Performance
Self storage has long been a quiet outperformer in the real estate realm—earning its reputation as a “recession-proof” asset. With a national estimated self storage asset market value of $237 billion, it has proven to be a resilient and appealing choice for investors and developers seeking steady returns and long-term growth.
1 In 3 Americans Rent Self Storage As Space Shortages Grow And Demand Expands
A third of Americans are now relying on self storage to manage their extra belongings, according to StorageCafe’s annual survey on renter demand and habits. At the core of this growing trend? The housing market.
The 6 Ds Of Self Storage Demand: Widespread Interest Puts The West In The Lead, While The South Comes In Second For Extra Space Needs
Life events continue to drive the U.S. self storage market, with moving, housing affordability, and economic shifts fueling sustained demand. Search interest in self storage has surged 88% since 2020, reaching a record 25 million annual searches in 2024.
Behind The Roll-Up Doors: REITs Expand To Own A Third Of The Self Storage Market
What began as a modest family business in a small Texas town has, over the last 60 years, grown into a $20.53 billion industry, boasting over 2 billion square feet of rentable space across the U.S. With demand for space growing amid increasing urbanization trends, rising home prices and evolving storage needs, the self storage sector attracted the attention of institutional investors, gradually minimizing the gap between traditionally owned properties and real estate investment trusts (REITs).
Out With The Old, In With Self Storage: U.S. Cities Convert Industrial, Retail Spaces Into Storage Facilities
Self storage construction has surged in recent decades, driven by the industry’s ability to provide flexible solutions to life’s challenges — whether it’s dislocation, divorce, death or the need to downsize. With living space increasingly at a premium in urban centers, it’s no surprise that self storage has become an essential resource. The sector has risen to meet this demand, building an impressive inventory of nearly 2 billion square feet nationwide, with over 90% of that space delivered in the last four decades.
Halloween Brings Treats, Not Tricks, For The Self Storage Industry: Post-Holiday Demand On The Rise
Halloween is spreading more than just spooky cheer each year, with cash registers ringing across both retail and hospitality. While the pandemic may have paused the frenzy, the past two years have seen consumer engagement spike, with retailers jumping on the trend head-on. Home Depot, for instance, began promoting spooky items as early as April this year. Halloween spending in 2024 is expected to reach $11.6 billion—a slight dip from last year’s record $12.2 billion but still one of the highest totals in nearly 20 years.
Houston Tops The Nation In Self Storage Sales Activity
Key Takeaways:
Self Storage Supply Growth Lowers Rents In Charlotte, NC, Keeping The Market Renter-Friendly
Charlotte’s self-storage market is expanding rapidly in 2024, surpassing the growth seen in the previous two years. Although demand is returning to pre-pandemic levels, new development will add more than 310,000 square feet of storage space to the market by the end of the year, which is roughly 3.5% of Charlotte’s total stock.
Greensboro Self Storage Market Still Going Strong, Experiences Street Rate Growth In The Midst Of A National Price Cool-Off
The self storage market in Greensboro, NC, is seeing price growth, albeit modest – 2% year-over-year – which translates to a current self storage rate of $94/month for a 10’x10’ non-climate-controlled unit. Greensboro joins of a group of cities that continue to see self storage price growth amidst a national slowdown.