With October behind us we are seeing rates decrease significantly compared to the rates in 2021.
When observing the price per square foot for big REITs in the top 25 markets for 10x10 CC units we’re seeing a significant decrease. In October 2021 the average price per square foot $1.74 while in October 2022 it was $1.54 over a 10.5% decrease.
Will rates continue to decrease more than 10% the rest of the year? Or will they stabilize as drivers for self storage increase with the recession taking full effect?
Take a look at the previous months recaps and reviews here -