Self-storage industry statistics
Self-storage industry statistics show that every 11th American uses the conveniences of self-storage. The vast use of storage space has made it widely popular and we can see that the industry is prone to expanding even more in years to come. People choose this option as storage facilities are now more available and closer than ever before. Plus, if things are measured right, everyone can afford a storage unit. And since the annual revenue in this business is around $38 billion, it is clear that the number of free storage facilities will only grow. This article will focus on some major statistics coming from the world of self-storage where we will try to present some of the latest news.
The number of employees is growing
As mentioned above, due to the increase in numbers of self-storage facilities, the necessity for workers in the self-storage industry is growing as well. The industry is growing and it is growing fast, thus today there are approximately 170 thousand employees and about 48,500 storage facilities. The good news for this industry and those looking for employment is that more people will be needed in the future. However, with such great competition between different companies that offer this kind of service, companies need to put more effort to be seen in order to reach more potential clients.
One of the ways to do so is by boosting the company’s website ranking. This way they will get better coverage which will ultimately bring them new clientele. All in all, neither storage company should be worried, as it seems that people in America just can’t get enough of storing away their belongings.
A storage unit could also be used in an unconventional way
The thing that contributes the most to the popularity of storage is the fact that it can serve on many different occasions. As self-storage industry statistics say, some of the most popular are the following:
- When relocating, storage units are highly useful since people usually need an empty room to place some of the things which can’t be relocated at once.
- Young people who have just moved to a small studio apartment downtown pursuing a career need more free space. Storage has imposed itself as a great solution.
- During renovation, people look for available storage units where they will put some of their valuables for a certain time. Storing your belongings in safe storage units is the goal you should always aim for.
- Those who own a business also need storage to put away some of the surplus office equipment.
- Many start-ups begin from storage units as they are much cheaper than offices downtown.
The list doesn’t end here, of course. It seems that there are no limits and you can use it any way you can imagine. The only thing that could make a difference is finding a quality storage unit where everything that’s been placed inside will stay safe and be preserved.
Some important numbers regarding the self-storage industry
Statistics have brought us some interesting facts regarding self-storage units. Take a look at them below:
- We already mentioned that the annual revenue in the self-storage industry is $38 billion with high chances for its continuous growth.
- Local government authorities have collected $3.5 billion in property taxes which only shows how strong this business is.
- At the end of 2015, it was estimated that only 10% of all self-storage was available.
- It is interesting to mention that even if you put three Manhattan islands next to each other, that’s still not enough to occupy the total number of rentable self-storage.
- More than a half of all available self-storage units can be found in suburban areas, while the rest are in cities and outside of urban areas.
- Most people who rent a storage unit opt for renting it for more than a year. Rare are those who rent it for less than 3 months.
- Around 150 thousand units are sold each year.
- Nearly 9% of U.S. households are currently renting a storage unit.
Storage units are being improved
With such a large expansion it was only a matter of time when more serious investment will be put in improving the quality of self-storage units. Back in the day, it was known that there were not many self-storage units built. But today we have many multi-story units which can satisfy everyone’s demands, no matter how high they are.
Things have gone so serious that, besides websites, storage companies are competing to improve their social media presence. The more views, shares, likes, and subscriptions, the better the business will develop.
Figure 3 Better quality is guaranteed with new storage units AltTag: Quality check
Better conditions are offered with new storage units
Modernization has brought new, refined self-storage units which are much more convenient than their predecessors. Today, stronger and higher quality materials are used when constructing these units. Their purpose is to provide the highest level of protection both from thieves and from the weather. Climate-controlled units are perfect for those items which are temperature-sensitive but that still need to be placed in storage. Those who are willing to pay more will find robotic-ran facilities much more convenient. Inside such storage units, all of their most valuable possessions will be kept safe until the time they need them again.
More technology is being used than before. And all for the purpose of meeting all clients’ requirements and in order to level up their offers. If you wish so, a storage company could take care of the delivery of your items into a storage unit, and you can track the cargo with the help of a mobile application. This saves you time, as you won’t have to be the one to bring those items personally.
All of the information presented in self-storage statistics is expected to change. For now, we can say that the largest number of self-storages built is in New York and Miami, while the most expensive 10×10 storage units for rent are found in San Francisco and Los Angeles.