Whether it’s a prized vinyl record collection or unwanted hand-me-down furniture, there are an endless number of uses for a self storage unit. Over the last several years, the size of self-storage space completed in the United States has more than tripled since 2015 to reach over 68 million square feet in 2018. The vacancy rates have remained somewhat steady at around nine or ten percent nationwide, demonstrating that while storage space has increased, demand has also increased. The average asking rent per square foot of storage space has risen from 1.16 U.S. dollars in 2016 to 1.21 dollars in 2018.
Although its revenue has grown steadily in the last couple years, Public Storage has seen a declining market capitalization value since 2015, decreasing from about 43 billion U.S. dollars to about 35 billion dollars in 2018. In addition, the company’s debt has skyrocketed from 391 million dollars in 2016 to over 1.4 billion dollars in 2018. Public Storage’s debt to total assets ratio has grown from two percent in 2015 to about four percent in 2018.
Founded in 1977 in Billings, Montana, Extra Space Storage is now the second largest self-storage company in the United States. In contrast to Public Storage, Extra Space Storage has seen a relatively stable market capitalization value over the last several years. However, the company’s debt had ballooned to over 4.5 billion dollars as of 2017.
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In the following 5 chapters, you will quickly find the 27 most important statistics relating to "Self-storage in the U.S.".