With August almost over we are able to see how the average price per square foot this month has performed compared to the same time last year.
From August 1st to August 28th 2021 the average price per square foot was $1.85 while from August 1st to August 28th 2022 $1.78 which is 3.7% less than the year before.
This is now the third month of 2022, and the end of the summer where the average price per square foot was lower than it was in 2021. This is a clear sign that rates are now starting to stabilize from the all time highs of 2021 when COVID-19 was significantly driving self storage demand.
Take a look at the previous months recaps and reviews here -
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.