Self Storage Services

The 8,800 self storage service providers in the US rent or lease secure space, such as rooms, compartments, lockers, containers, or outdoor space, for clients to store and retrieve goods. Storage properties include one story buildings, multi-story buildings, climate controlled units, and parking areas for boats and motor vehicles. Sources of revenue include rent, sales of storage items (boxes, packing materials), insurance, late fees, administrative charges, and truck rentals. Large companies may offer management services.

Demand Dependent On Local Demographics

Because the majority of demand for self storage comes from customers within a one to three mile radius, a company’s business health is related to local population demographics and density.

Oversaturation Drives Down Occupancy

Some markets suffer from excess supply due to oversaturation.

Sep 23, 2026 - More than a Quarter of Americans Use Self Storage

• More than a quarter of Americans currently rent self storage, while another 28% expect to use it in the future, pointing to continued demand for extra space, according to StorageCafe. Online searches for self storage across the 150 largest US cities increased by 23% in 2025 compared with 2024, more than triple the prior year's growth. Housing affordability challenges, smaller homes, moving, remote work, and household clutter are helping drive demand. Gen X has the highest current usage rate at 35%. While only 13% of Gen Z currently rents storage, 32% of Gen Z respondents expect to do so in the future. More than half of current users choose climate-controlled units, and affordable pricing ranks as the most important facility feature. Search growth has been especially strong in several Southern and Sun Belt markets.
• The Wall Street Journal reports sellers are being advised to adjust expectations as mortgage rates approach 7%, including pricing homes more realistically and taking a more active approach to preparing properties for sale. A tougher selling environment can lengthen marketing periods and delay moves, which may reduce immediate turnover-related demand for self-storage. At the same time, homeowners who declutter, stage, renovate, or temporarily relocate while marketing a property can still generate storage needs. Operators in residential markets may benefit from partnerships with real estate agents, movers, and home-service providers to capture demand when transactions occur.
• Existing-home sales declined 2% in August from July to a 3.98 million annual rate, while inventory rose 3.2% to 1.62 million homes, according to the National Association of Realtors (NAR). The 4.9 months of supply was the highest in more than 10 years. More listings can eventually support moving activity if transactions recover, but the current combination of higher inventory and slower sales suggests homes are taking longer to convert into completed moves. Self-storage operators may see softer relocation demand in the near term and should track local pending sales, days on market, and inventory for signs that housing-related storage demand is improving.
• Blackstone Real Estate Income Trust's exit from self-storage suggests the property type may offer less attractive growth or return prospects than the REIT's preferred sectors, particularly data centers, industrial properties, and rental housing. BREIT sold its remaining 79 self-storage properties for $852.3 million in net proceeds and a $177.3 million gain, completing an exit that began three years ago, according to Bisnow. At the same time, BREIT invested $3.3 billion in data center development during the second quarter, underscoring its preference for a sector benefiting from strong leasing demand. About 90% of BREIT's portfolio is now concentrated in data centers, industrial properties, and rental housing.

Industry size & Structure

The average self storage company operates a single location, employs 7 workers, and generates about $2 million annually.

• The self storage service industry consists of about 8,800 companies that employ 60,600 workers and generate $21 billion annually.
• The industry is fragmented; the top 50 firms account for about 64% of total revenue.
• Just over half of self storage facilities are located in suburban areas; about 36% in urban; and 12% in rural.
• About 13% of US households and 12% of US businesses rent self storage units.
• Large companies include Public Storage, Extra Space Storage, CubeSmart, and National Storage Affiliates.