Rental Rates • Section 3
2013 to the fourth quarter of 2014 remains when the national re- sults are broken down by region. Although rental rates for non- climate controlled 5-by-5 units in the Midwest only saw a minor decrease of 0.3 percent, non-climate controlled 5-by-5 units in the South Atlantic experienced a 1.4 percent decline in rental rates from the third quarter to the fourth quarter of 2013. Non-climate controlled 5-by-5 units in the West and the
Southwest both had 0.7 percent decreases in rental rates from third quarter 2013 to fourth quarter 2013, while rental rates dipped 0.9 percent for non-climate controlled 5-by-5 units the
Change *
$48.82 -0.3% $49.44 $50.86 $51.04
1.3% 2.9% 0.4%
$50.33 -1.4% $50.71 $52.44
0.8% 3.4%
1.6% 3.1% 0.3% -0.2% 0.8% 2.7% 1.0% -1.2% 1.3% 3.3%
Northeast during that time frame. For non-climate controlled units, the greatest decline in rental rates was that of 10-by-15 units in the South Atlantic region. Asking price for that par- ticular unit size declined 1.5 percent from third quarter 2013 to fourth quarter 2013. On the other end of the scale, the smallest change in rent during this time period was that of non-climate controlled 10-by-15 units in the Southwest with a 0.2 percent decrease. Climate controlled units experienced rental rate declines from third quarter to fourth quarter 2013 as well. In fact, all unit
Table 3.12 – Southwest Rental Rates (Climate Controlled Asking Rent) Change
Change Year
2011 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2
* Data Not Available Change Year
2011 Q4 $59.61 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2
* Data Not Available
Table 3.14 – National & Regional Rental Rates (Climate Controlled)*
Region South Atlantic
Midwest $57.34 Northeast
$78.52
Southwest $52.44 West $63.71 National
* 2nd Quarter 2014
5 x 5 5 x 10 10 x 10 10x15 10 x 20 $86.34
$143.43 $120.32 $189.58
$130.15 $148.18
$187.62
$171.13 $193.47
$227.15 $249.81 $307.53
$61.05 $91.59 $148.95 $197.26 $249.02 $79.24 $93.12
$216.12 $236.69
$66.18 $95.46 $151.55 $198.66 $245.94 Source: © 2014 REIS, INC.
$60.16 $60.69 $60.85
0.9% 0.9% 0.3%
$60.47 -0.6% $60.75 $61.66 $62.20
0.5% 1.5% 0.9%
$62.14 -0.1% $62.54 $63.71
0.6% 1.9%
Table 3.13 – West Rental Rates (Climate Controlled Asking Rent) Change
Change
$87.14 $87.57 $88.24 $89.01 $88.65 $89.09 $90.18 $91.03 $90.78 $91.42 $93.12
*
0.5% 0.8% 0.9% -0.4% 0.5% 1.2% 0.9% -0.3% 0.7% 1.9%
$139.23 $139.49 $140.08 $141.65 $141.80 $142.39 $143.80 $144.72 $143.80 $145.21 $148.18
*
0.2% 0.4% 1.1% 0.1% 0.4% 1.0% 0.6% -0.6% 1.0% 2.0%
$184.24 $184.37 $185.24 $186.83 $187.07 $187.77 $188.54 $188.84 $187.09 $189.46 $193.47
$47.11 $47.53 $48.57 $48.99
0.9% 2.2% 0.9%
$69.96 $71.06 $73.25 $73.44 $73.32 $73.92 $75.95 $76.68 $75.75 $76.73 $79.24
$115.56 $116.01 $118.73 $120.40 $120.73 $121.65 $124.26 $126.20 $124.34 $126.08 $130.15
*
0.4% 2.3% 1.4% 0.3% 0.8% 2.1% 1.6% -1.5% 1.4% 3.2%
$155.41 $155.19 $158.24 $160.50 $161.11 $162.88 $166.58 $167.16 $164.83 $166.40 $171.13
Change *
-0.1% 2.0% 1.4% 0.4% 1.1% 2.3% 0.3% -1.4% 1.0% 2.8%
$196.23 $197.08 $199.80 $202.83 $203.12 $205.48 $207.53 $208.85 $206.73 $209.51 $216.12
Change
5 x 5 in Rent 5 x 10 in Rent 10 x 10 in Rent 10 x 15 in Rent 10 x 20 in Rent *
*
0.4% 1.4% 1.5% 0.1% 1.2% 1.0% 0.6% -1.0% 1.3% 3.2%
Source: © 2014 REIS, INC.
Change *
0.1% 0.5% 0.9% 0.1% 0.4% 0.4% 0.2% -0.9% 1.3% 2.1%
$226.00 $226.89 $227.30 $228.72 $227.72 $229.00 $230.07 $230.58 $229.76 $232.57 $236.69
Change
5 x 5 in Rent 5 x 10 in Rent 10 x 10 in Rent 10 x 15 in Rent 10 x 20 in Rent *
*
0.4% 0.2% 0.6% -0.4% 0.6% 0.5% 0.2% -0.4% 1.2% 1.8%
Source: © 2014 REIS, INC.
Table 3.15 – National & Regional Rental Rates (Non-Climate Controlled)*
Region
Midwest $42.75 Northeast $62.83 South Atlantic
5 x 5 5 x 10 10 x 10 10x15 10 x 20 $61.00
$96.88 $95.30
Southwest $40.09 West $56.64 National
* 2nd Quarter 2014 $151.78 $91.17 $134.95
$122.14 $195.40
$118.34 $176.32
$146.42 $242.97
$48.88 $68.54 $109.66 $141.65 $175.12 $58.87 $82.24
$142.14 $218.09
$53.94 $75.21 $118.85 $153.72 $187.01 Source: © 2014 REIS, INC.
2015 Self-Storage Almanac 53
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