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31 Jan, 2023
Analysis | Latest
January Recap
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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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With January 2023 coming to a close we can see how the rates have done compared with the same time last year.

In January 2022 the average price per square foot was $1.65. While this past month for January 2023 the average price per square foot had dropped to $1.41 per square foot. This was a 15% decrease.

With the recession getting into full swing, rates are reflecting the current state of the macro economy of the country. Self Storage has always been touted as being recession resilient, so it will be interesting to see if that title holds strong over the next couple of months.

Sourced from Radius+ data.