With August coming to a close, we can see how the rates have compared to last year.
In August 2022, the average price per square foot was $1.78. While this past month, for August 2023, the average price per square foot had dropped to $1.48 per square foot. This was an 17% decrease year over year.
However, the average price per square foot in August 2019 was $1.34 making the percentage change from 2019 to 2023 a 10.6% increase.
Pros and Cons of Single-Story vs. Multi-Story Self-Storage Development
When embarking on the journey of self-storage facility development, one of the key decisions you'll face is whether to build a single-story or a vertical (multi-story) facility.