U.S. Self-storage - Statistics & Facts

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 risen from 18.5 million square feet in 2015 to over 36 million square feet by 2017. 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.

The leading self-storage company in the United States is Public Storage, which generated over 2.5 billion dollars in revenue in 2017, over twice as much as the second largest company, Extra Space Storage. Both companies boast over 100 million square feet of rental space across the United States. However, neither company operates in every state in the union; a distinction that goes to U-Haul, Inc.

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 36 billion dollars in 2017. In addition, the company’s debt has skyrocketed from 391 million dollars in 2016 to over 1.4 billion dollars in 2017. Public Storage’s debt to total assets ratio has grown from 2 percent in 2015 to about 4.4 percent in 2017.

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, combined with a rapidly growing net income. However, the company’s debt has also ballooned to over 4.5 billion dollars as of 2017.

Read more

Self-storage in the United States - Important statistics

You may also be interested in these statistics

The whole topic in one document

Self-storage in the United States
  • Edited and prepared
  • Download in PPT/PDF format
  • Instant access
  • From $365

The whole topic in one document

Self-storage in the United States
  • Edited and prepared
  • Download in PPT/PDF format
  • Instant access
  • From $365

Recommended statistics

More interesting topics from the industry "Rental & Leasing"

More interesting topics from the industry "Rental & Leasing"

About Statista

Learn more about how Statista can support your business.

Any more questions?

Any more questions?

Get in touch with us quickly and easily. We are happy to help!

Get in touch with us quickly and easily. We are happy to help!

Do you still have questions?

Feel free to contact us anytime using our contact form or visit our FAQ page.