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27 Dec, 2022
Analysis | Latest
Yearly Recap
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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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 10×10 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.

Sourced from Radius+ data.