27 Dec 2022

Yearly Recap

James McLean

Union Realtime

With the year coming to a close we can take a look at how rates have changed from the all time highs in 2021 to the end of 2022.

From January 1st 2021 to December 25, 2021 the average price per square foot was $1.40 for a 10x10 CC unit in the top 25 markets. Whereas from January 1st 2022 to December 18th 2022 average price per square foot was $1.45 a 3.9% increase YoY.

The average facility size in the top 100 markets also increased from average NRSF of 50,898 to 51,191 a .6% increase.

While it is easy to say that the Self Storage industry has slowed down since the banner year of 2021, we can now see that 2022 as a whole still saw rates growing YoY and average facility size continuing to increase.