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      Q1 2017 Self Storage Trends

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      There was a bit of a first quarter surprise this year with Self-Storage, as national vacancies rose by 40 basis points – putting our occupancy rate at 89.3%. Usually we start seeing the return of seasonal strength for Self-Storage properties as early as the first quarter, so it will be interesting to see how the second quarter turns out – as that is usually among the strongest periods for the sector.

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      Year-over-year rent growth for 10x10 non-climate controlled properties was strongest in the West region, followed by the Midwest and South Atlantic both at 1.7%.

       

      REIS SELF STORAGE COVERAGE

       

      Topics: Self Storage, Vacancy Rates, Articles, Rents, Absorption Rates, Construction, All