by Renee Ory | Jun 25, 2015 | Storage
Reducing clutter from your life might seem like a no-brainer, but many consumers invest in storage facilities believe that the contents will lead to savings in the future. According to the Self Storage Association, approximately 7.0 sq. ft. of self storage space exists for every person in the nation and that “it is physically possible that every American could stand – all at the same time – under the total canopy of self-storage roofing.” The self storage industry has been one of the fastest-growing sectors of the US commercial real estate industry over the period of the last 40 years There are more than 48,500 self storage facilities in the US as of 2014 8.96% of all American households currently rent a self storage unit (10.85 million of the 113.3 million US households in 2013) Total self storage rentable space in the US is just above 2.3 billion square feet. That figure represents more than 78 square miles of rentable self storage space or an area approximately twice the size of Lafayette. The common misconception is that by storing old furniture, clothing and other belongings, you can save money by not having to repurchase these items when/if you need them in the future. Unlike storing extra belongings in your garage, keeping units at storage facilities cost money. Storage unit prices are determined based on the size of the unit, the location of the storage facility and other special storage unit features. Prices can become very costly per month: Small storage unit (5 ft. x 5 ft.): $55 Medium storage unit (10 ft. x 10 ft.): $125 Large storage unit (20...
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