Updated 1/27/2023
This page contains statistics about the U.S. self-storage industry compiled by The SpareFoot Storage Beat. Statistics on this page will be updated as we receive new data. If you have data that you would like to share or have a question about data on this page, please email [email protected].
In this report:
- Industry Overview
- Average Monthly Storage Unit Cost
- Self Storage Occupancy Trends
- Largest Self Storage Operators
- Average Monthly Construction Expenditures
- Average Cost of Storage in Popular Cities
Self Storage Industry Snapshot
| U.S. self-storage industry snapshot | Data |
|---|---|
| Total market size | $44.3 billion – $58.2 billion |
| Number of self-storage facilities | 52,301 self-storage facilities |
| Total rentable storage space | 2.1 billion square feet |
| Storage space per person | 6.32 square feet |
| Percentage of households that rent a storage unit | 11.1% |
| Average monthly cost for a self-storage unit | $84.86 per month as of March 2024 |
Number of self-storage facilities in the United States
There are an estimated number of 52,301 storage facilities operating in the U.S. today. (Self-Storage Almanac, 2024)
Industry ownership is fragmented, with 37.6% of self-storage space (by rentable square footage) owned by five public companies, 22.2% is owned by other large and mid-size companies that each operate more than 500,000 square feet of self-storage space. The remaining 40.2% of storage space is controlled by smaller operators, many of which are small family-owned businesses. (Self-Storage Almanac, 2024)
Amount of rentable storage space in the U.S.
There is an estimated 2,099,000,000 square feet of storage space in operation in the U.S. today. (Self-Storage Almanac, 2024)
Amount of rentable storage space per person in the U.S.
There are 6.32 square feet of self-storage space per person in the United States, that is up from 6.1 square feet per last year. (Self-Storage Almanac, 2024)
Percentage of U.S. households that rent a storage unit
11.1% of households currently rent a self-storage facility. That is an estimated 14.6 million households. (SSA Demand Study 2023)
Average storage unit rental cost
Self-storage units range in price depending on local supply and demand, market size, unit availability, time of year and amenities. The average monthly cost to rent a self-storage unit was $85.14 in March of 2024, based on SpareFoot reservation data. That marks a decline of 13.6% from the previous year.
The national average cost for all unit sizes was $96.25 per month in 2023. That is a decline of 12.5% from the record of $110.01 set in 2022.
The average price per square foot was $1.01 per square foot in 2023, down from $1.19 the previous year.
Average self-storage cost by unit size
| Unit size | Avg. Monthly Storage Rent (2024 YTD) | $/sq.ft. | Percent share of all units |
|---|---|---|---|
| 5×5 | $37.65 | $1.51 | 17% |
| 10×10 | $89.46 | $0.89 | 20.4% |
| 5×10 | $56.61 | $1.06 | 23% |
| 10×20 | $139.11 | $0.68 | 6.8% |
| 10×15 | $119.17 | $0.79 | 9.9% |
Self-Storage Occupancy Trends
Overall occupancy at stabilized facilities in the self-storage industry was 83.85% as of March 2024, according to Storable data. That is a reduction of 3.33% from occupancy during the same month last year.
Largest publicly traded storage operators in the U.S. (by annual revenue)
- Public Storage: $2.68 billion (2019)
- Extra Space Storage: $1.3 billion (2019)
- CubeSmart: $643.9 million (2019)
- Life Storage: $574.7 million (2018)
- National Storage Affiliates Trust: $387.9 million (2019)
- U-Haul: $367.3 million (fiscal 2019; self-storage revenue only)
Data from most recently reviewed company earnings reports.
Largest self-storage operators in the U.S. (by number of facilities, owned or managed)
- Public Storage: 3,310 facilities
- Extra Space Storage: 2,177 facilities
- U-Haul: 1,880 facilities
- CubeSmart: 1,289 facilities
- National Storage Affiliates Trust: 1,238 facilities
- Life Storage: 1,152 facilities
Data from Self Storage Almanac 2023
Average monthly construction spending on self-storage facilities
The chart below shows construction spending by month, according to the U.S. Census bureau. Figures are not adjusted for inflation.
Most popular cities for self-storage in 2022
Using our data we’ve identified the 10 most in-demand cities for self-storage units by reservation volume. Average prices for 2022 shown below:
| Rank | City, State | Price Per Month |
|---|---|---|
| 1 | Houston, TX | $87.27 |
| 2 | Las Vegas, NV | $111.27 |
| 3 | Phoenix, AZ | $98.89 |
| 4 | New York, NY | $115.69 |
| 5 | San Antonio, TX | $97.20 |
| 6 | San Diego, CA | $145.57 |
| 7 | Los Angeles, CA | $194.94 |
| 8 | Miami, FL | $142.14 |
| 9 | Orlando, FL | $108.97 |
| 10 | Austin, TX | $108.64 |
Self-Storage Data by State:
Use the links below to find detailed storage data for the states with the most demand for self-storage.
Report Sources
Self Storage Association
IBISWorld
Seeking Alpha
Self-Storage Almanac
Inside Self-Storage
MJ Partners
Public Storage
Extra Space Storage
CubeSmart
Sovran Self Storage (Life Storage)
U-Haul (AMERCO)
