With November coming to a close we can observe how rates have fared compared to last year this time.
In November 2021 the average price per square foot from November 1st to November 27th was $1.68 while in 2022 from November 1st to November 27th the average price per square foot was $1.45. This was a 13.7% decrease year over year.
With Q3 over and the recession in full swing we can expect rates to stay this way unless drivers from economic hardships cause people to start downsizing and move, 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.