The Mini storage industry, nationwide, is experiencing huge growth and success. The sheer number of Baby Boomers and Generation Xers is staggering, and those two generations make up the largest percentage of people who rent storage units.
That is the now. What about the soon to be? What mini storage trends can we expect to see in 2025 and beyond?
The answer to that question is brought to you by Blue Mound 287 Self Storage, serving North Fort Worth, the Alliance Area, and Haslet with outstanding and affordable self storage solutions. Call us today at 817-439-1380 for information about current pricing and unit availability.
Current mini storage numbers
- Self storage has grown to more than 1.9 billion square feet of space in 2024. Over the span of the last 5 years, 276.9 million square feet of storage space was built – that’s equivalent to 14.5% of the total inventory.
- In 2023 alone, almost 55.3 million rentable square feet were finalized, an area that would cover the whole of Central Park. New supply in 2023 represents 3% of the existing inventory.
- In 2024, roughly 59.6M sq. ft. of new self-storage space are planned to be completed across the U.S. That represents a 7.7% increase compared to 2023 deliveries.
- One fifth of Americans (18%) use self-storage currently, with a further 14% intending to rent some in the future.
- The average self-storage street rate for a 10’x10′ storage unit is $121/month, down 4.7% year-over-year.
Obviously, this is a very healthy industry, and as those aforementioned Baby Boomers and Generation Xers continue to downsize and move into smaller spaces, those numbers will increase.
What to expect going forward.
All right, then, that’s what is happening now in 2024. What can we expect to see in the industry?
- More self-storage companies having websites to make renting storage units easier.
- Increased use of self-storage software to help with budgeting and management
- Increased storage options for customers
- Rise in rental prices is inevitable
- Increased data security to protect customers personal information
- Increased property security
- Adoption of sustainable practices to help the environment
- Enhanced customer convenience
The self-storage industry is a very competitive industry, and that is good news for the American consumer. Competition spawns’ innovation and it spawns marketing steps taken to attract customers away from competition. Going forward, you can expect to see innovations which further broaden the scope of self-storage and give customers more options.
The Blue Mound 287 vision.
Blue Mound 287 Self Storage has been at the forefront of security since we opened, and we will continue to look at new ways to make your stored possessions as safe and secure as possible. At the same time, we will look at new ways to make this whole process more streamlined and simpler for customers to use.
A final word about Blue Mound 287 Self Storage.
Blue Mound 287 Self Storage and our sister company, Mouser Self Storage in South Fort Worth, are locally owned and operated. Call us today and inquire about storage unit sizes as well as car storage, RV self storage, boat storage units, and small hobby shops available.