The pandemic has created an even greater demand for self storage. And the industry continues to capitalize on this elevated demand. Significant rent improvements across the U.S. Street-rate rents rose 8% for a 10×10 non-climate-controlled and 9.5% for the climate-controlled units of similar size, year-over-year as of April 2021. The national street rates also experienced
Like other real estate sectors, the U.S. self-storage industry, like that of Mindful Workspaces & Storage, experienced the ups and downs of 2020. However, by year’s end, the market proved that the reputation it had built for itself during the last recession as a resilient sector is still valid. Adjustments indeed had to be made, but
Mindful Workspaces found it quite interesting to know that the self-storage industry continues to have a good pandemic, with rising rent prices and robust demand. Unfortunately, a fresh round of COVID-related lockdowns could negatively impact it. A new monthly report from Yardi Matrix, which tracks self-storage, found that national rents, for standard 10X10, non-climate-controlled, self-storage