Over the past few decades, the self-storage market has experienced a considerable rise in popularity. Many people are using storage containers to organize their homes, keep seasonal goods safe, and protect their possessions throughout a move. But how many people actually use storage facilities?
Over 2.3 billion square feet of rentable space are offered by over 48,500 self-storage facilities in the US, according to the Self-Storage Association. This enormous amount of space is a reflection of the rising need for storage facilities. In fact, it’s thought that one in every ten homes in the US rent storage space.
People use storage units for a variety of purposes. They are sometimes used to store seasonal items like summer or Christmas decorations. Others use them to store their stuff safely and out of the way during a move or restoration process. Some people even use storage facilities as an addition to their homes, using them to store things that don’t fit in their living quarters.
In 2020, the self-storage sector will generate over $38 billion in revenue. This shows both the wide range of services provided by storage facilities and the rising demand for storage spaces. Numerous storage facilities provide relocation services, climate-controlled units, and 24-hour security.
Whether storage units increase in value is one query that many individuals ask. Sadly, the response is no. In contrast to real estate or other assets, storage units do not increase in value. They can nonetheless be a great advantage for people who require extra room or short-term storage options.
In conclusion, millions of Americans rent storage units every year, making the self-storage sector a growing business in the US. For people who require more space, temporary storage options, or a secure location to store their items during a move or renovation project, storage facilities can be a significant tool. Even while the value of storage units does not increase, they can nevertheless help individuals in need.