Self storage is an easy choice when it comes to building a solid, lucrative business.
Self storage is a huge category.
- In the U.S., self storage represents over $22.6 billion in sales per year.
- There is 2.2 billion square feet of self storage space in America, an area more than 3 times the size of Manhattan Island.
- The average size of a self storage facility is 43,000 square feet.
Self storage has broad appeal.
- One in 10 households currently rent a self-storage space.
- 46% of the U.S. population has rented within the past 10 years.
Self storage is sustainable.
- Thousands of new facilities are developed each year. In 2007 alone, 2,007 facilities were added.
- Over the past 20 years, the industry has consistently grown 9.5% each year.
Self storage is a moneymaker without the headaches.
- Over 40% of commercial customers rent more than two years.
- The average customer visits his unit once a month.
Self storage has diverse renter demographics.
- 71% of renters are homeowners.
- 25 - 29 year olds are the highest user of self storage, followed by Americans over 55.
- A household income of under $20,000 is the number one renter group, $20,000-$30,000 second.
Self storage fun facts:
- The number one reason people rent self storage is no room for items at residence.
- The number one way a renter finds a self-storage facility is by driving by.
- The most commonly rented unit is 10' x 10'.
- The most commonly stored item is indoor furniture.
- The most common type of unit rented has an exterior entrance with drive-up parking.
Facts provided by Self Storage Association and the Self Storage Demand Study, 2007 Edition.