What is the current demand for self-storage units?

The current demand for self-storage units varies depending on various factors such as location, market conditions, and economic trends. Generally, the self-storage industry has seen stable and consistent growth in recent years, driven by factors such as urbanization, lifestyle changes, and the growth of e-commerce. As of 2020, 10.6% of U.S households rent self storage. This is up from 9.4% in 2017. This provides a huge opportunity for growth since in theory, if we were to go from 1 in 10 households using self storage to 2 in 10 households, the national supply of storage facilities would need to potentially double. This sort of growth potential does not exist in many other real estate asset types.