With March coming to a close we can see how the rates have done compared with the same time last year.
In March 2022 the average price per square foot was $1.68. While this past month for March 2023 the average price per square foot had dropped to $1.48 per square foot. This was a 11.4% decrease year over year.
Notably, this is a lower decrease than what we saw in the month of February which had a decrease of 13.6%. This is a nice change of pace to see that the average price per square foot is starting to stabilize.
Check out the previous monthly recaps 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.