Self Storage Industry Statistics
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Self-storage sector snapshot
|U.S. self-storage sector snapshot||Data|
|Annual industry revenue||$38 billion|
|Number of storage facilities (range)||45,000-52,000|
|Total rentable self-storage space||1.7 billion square feet|
|Self-storage space per person||5.4 square feet|
|Percentage of households that rent a self-storage unit||9.4 percent|
|Average monthly cost for a self-storage unit||$88.85|
Average monthly construction spending on self-storage facilities
The chart below shows construction spending by month, according to the U.S. Census bureau. Figures are not adjusted for inflation.
Number of self-storage facilities in the U.S.
Between 45,547 (Self-Storage Almanac, 2019) and 52,000 (Self Storage Association, 2018). Sources vary depending on the definition and methodology.
Industry ownership is fragmented, with 18% of facilities owned by the six largest public companies, 9% owned by the next top 100 operators (minus the REITs), and 73% owned by small operators. (Self-Storage Almanac, 2019)
Largest self-storage operators (publicly traded) in the U.S. (by annual revenue)
- Public Storage: $2.75 billion (2018)
- Extra Space Storage: $1.2 billion (2018)
- CubeSmart: $597.94 million (2018)
- Life Storage: $550.85 million (2018)
- U-Haul: $323.9 million (fiscal 2018 – self-storage revenue only)
- National Storage Affiliates Trust: $330.89 million (2018)
Data from most recently reviewed company earnings reports.
Largest self-storage operators in the U.S. (by number of facilities, owned or managed)
- Public Storage: 2,429
- Extra Space Storage: 1,647
- U-Haul: 1,519
- CubeSmart: 1,084
- Life Storage: 744
- National Storage Affiliates Trust: 675
Data from most recently reviewed company earnings reports. U-Haul number reported by AMERCO March 2019.
Self-storage revenue growth by quarter (REITs)
Amount of rentable self-storage space in the U.S.
1.7 billion square feet (Self-Storage Almanac, 2019)
Amount of rentable self-storage space per person in the U.S.
5.4 square feet per person (Self-Storage Almanac, 2019)
Percentage of U.S. households that rent a self-storage unit
9.4% of households. (SSA Self Storage Demand Study, 2017)
Average storage unit cost
The national average cost for all unit sizes is $88.85 per month, according to SpareFoot data. (2018)
The national average cost per square foot is $0.96 per month. (2018)
Below is the average national cost by storage unit size.
|Unit size||Average monthly cost (2018)||$/sq.ft.||Year-over-year change|