In total, Americans store about 2.3 billion square feet of stuff, which is more than 78 square miles–three times the size of Manhattan. That’s an average of 7.3 square feet of self storage space for every person in the United States.
About 27 percent of self storage renters live in apartments or condos while 68 percent live in single-family homes. And though 65 percent of storage space renters have a garage, 47 percent have an attic, and 33 percent have a basement, they still need extra storage space.
Sixty-three percent of self storage renters have an annual household income of less than $75,000 per year, making it clear that you don’t have to be rich to afford a storage unit.
This industry has been the fastest growing segment in commercial real estate since about 1975 and is even considered recession resistant because of its continued success through the recent recessions.
The average size of a primary self storage facility is 46,500 square feet. There are enough of these storage facilities that every American household could rent 21 square feet of storage space. In short, the self storage industry is huge and isn’t going anywhere any time soon.