Self Storage Occupancy Rates

Self storage occupancy rates have been on the rise in recent years, as more and more people find themselves needing extra space to store their belongings. With the growing demand for storage units, it is important to understand the current occupancy rate of these facilities to ensure that there is enough space to meet the needs of those looking for a place to store their stuff. This article will explore the current self storage occupancy rate, what factors are driving it, and what it means for those looking for a storage unit.

It is no secret that the world is getting smaller, with people owning more items than ever before. From furniture to seasonal decorations, homeowners often find that they have outgrown their current living space and need somewhere to store their items. Self storage companies have become a popular way to find extra storage space for all of those excess items, and the industry has seen a large upswing in demand in recent years.

The National Self Storage Association (NSSA) collects and reports data regarding the occupancy rate of self-storage facilities. According to the NSSA, the occupancy rate of self-storage facilities has been steadily increasing over the past several years. The current occupancy rate stands at a whopping 93%, which is an impressive number given that the national average for commercial real estate is only around 80%.

So what is driving this increase in occupancy rates? It turns out that the booming economy and strong housing market have played a large role in the growth of the self storage industry. In the current market, many people are finding themselves in more affluent financial positions and are looking for ways to store their new possessions. Additionally, as the housing market becomes more competitive, some buyers are turning to temporary storage solutions while they look for their perfect home. All of these factors contribute to the rising demand for self storage.

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