Self Storage Industry

Key Facts

• There are now 51,500 primary* self storage facilities in the U.S.
• Nearly 1-in-10 of U.S. households or 10% currently rent a self storage unit which has increased from 1-in-17 since 1995. This represents a 65% increase in the last 12 years
• The self storage industry has been the fastest-growing sector of the U.S. commercial real estate industry over the last 30 years
• Primary self storage facility gross revenues for 2007 were approximately $20.1 billion
• The total market capitalization of the entire U.S. self storage industry is well in excess of $220 billion
• Nationally, primary self storage facilities employ 160,000 persons, or an average of 3.1 employees per facility (excludes ownership)
• There are some 27,850 small business entrepreneurs (91% of all self storage companies) who own and operate just one primary self storage facility
• The top-5 self storage companies, including the 4 public companies, own and operate some 4,550 self storage facilities, or 8.8% of all primary facilities
• Total self storage rentable space in the U.S. is estimated to be 2.194 billion square feet (as of Q4-2007). That figure represents more than 78 square miles of rentable self storage space, under roof – or an area well more than 3 times the size of Manhattan Island (NY)
• There are 6.89 sq. ft. of self storage space for every man, woman and child in the nation, thus, it is physically possible that every American could stand – all at the same time - under the total canopy of self storage roofing

Self Storage Association “Industry fact sheet” (1/08)

*Primary = self storage is the primary source of revenue