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)

  1. Public Storage: $2.75 billion (2018)
  2. Extra Space Storage: $1.2 billion (2018)
  3. CubeSmart: $597.94 million (2018)
  4. Life Storage: $550.85 million (2018)
  5. U-Haul: $323.9 million (fiscal 2018 – self-storage revenue only)
  6. 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)

  1. Public Storage: 2,429
  2. Extra Space Storage: 1,647
  3. U-Haul: 1,519
  4. CubeSmart: 1,084
  5. Life Storage: 744
  6. 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
5×10 $64.91 $1.25 -2.5%
10×10 $97.59 $0.98 -2.3%
5×5 $47.01 $1.88 -2.6%
10×20 $138.06 $0.68 -2%
10×15 $126.07 $0.84 -6.5%

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