Vacancy rate of self-storage space in the U.S. 2015-2019

In 2018, ten percent of self-storage space in the United States was vacant and the vacancy rate was forecast to reach 10.3 percent by 2019. Private businesses are one of the main groups which rely on self-storage facilities to store excess inventory or archived files. Private individuals also use these facilities to store household goods and any belongings which don’t fit in their home.

The popularity of self-storage in the U.S.

Self-storage is especially popular in the United States and as of 2018, 90 percent of all facilities globally were located in the country. The volume of self-storage space completed was rising until 2018, but is forecast to fall in 2019. This trend in conjunction with the rising vacancy rate suggests that supply has begun to outstrip demand.

Future growth of the sector

The global self-storage market is forecast to be worth over 47 billion U.S. dollars by 2024, up from 37 billion U.S. dollars in 2018. Industry experts predict that Asia Pacific will be the fastest growing market and may even in time overtake the United States.

Vacancy rate of self-storage space in the United States from 2015 to 2019

Vacancy rate
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Sources

Release date

April 2019

Region

United States

Survey time period

2015 to 2018

Supplementary notes

*Estimate.
**Forecast.

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Statistics on "Self-storage in the United States"

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