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11 Nov, 2024
Analysis | Latest
Los Angeles Vs New York – Who Wins in Rates
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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The Radius+ team compared how rates trended in two of the best Self Storage markets in the country. NYC, NY and Los Angeles, CA! We looked at REIT rate data for 10×10 CC units.

January 1st 2023 – November 5, 2023 –
Average Price Per Square Ft: – NYC: $1.95 – LA: $2.11

January 1st 2024 – November 5, 2024 –
Average Price Per Square Ft: – NYC: $1.77 – LA: $1.83

Percentage change:
– NYC: 9.3% decrease – LA: 13.3% decrease

While the rates are higher in LA than NYC it appears that demand softened less in the NYC market as rates saw a smaller percentage decrease year over year!