Rental Rates • Section 4
Perhaps the most surprising piece of data is the West’s minimal rental rate increase of only 1.8 percent for climate- controlled 10-by-20s in the second quarter of 2015, consider- ing the fact that the region includes some of the country’s top MSAs and can experience substantial heat as well as natural di- sasters such as forest fires, earthquakes, and mudslides. Table 4.14 shows that the other sizes of climate-controlled units in the West reported rental rate increases between 2.8 percent and 3.3 percent in the second quarter of 2015.
Another unusual occurrence in the West is that the region
posted greater rental rate increases for non-climate-controlled units during that period, with all sizes experiencing an increase of 3 to 3.7 percent, as shown in Table 4.13. In addition, non- climate-controlled 10-by-20s had the lowest increase in the second quarter of 2015 at 3 percent, whereas 5-by-5s enjoyed the highest rate increase with 3.7 percent.
Change in Non-Climate- Year
2011 Q4 $52.61 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$53.02 $53.73 $54.19 $54.16 $54.45 $54.97 $55.35 $54.94 $55.90 $57.34 $57.84 $57.49 $58.93 $61.10
* Data Not Available Climate- Year
2011 Q4 $60.73 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$61.43 $61.95 $62.16 $61.84 $62.19 $63.18 $63.74 $63.64 $64.16 $65.39 $65.79 $65.57 $66.68 $68.52
* Data Not Available
Change in Climate-
*
1.2% 0.8% 0.3% -0.5% 0.6% 1.6% 0.9% -0.2% 0.8% 1.9% 0.6% -0.3% 1.7% 2.8%
Table 4.14 – West Rental Rates (Climate-Controlled Asking Rent) Change in
Climate-
$89.90 $90.34 $91.02 $91.91 $91.52 $92.03 $93.19 $94.03 $93.67 $94.44 $96.25 $96.80 $96.26 $98.21
$101.42 Climate- *
0.5% 0.8% 1.0% -0.4% 0.6% 1.3% 0.9% -0.4% 0.8% 1.9% 0.6% -0.6% 2.0% 3.3%
Climate-
Asking Rent $140.56
$141.09 $141.84 $143.29 $143.43 $144.30 $145.80 $146.79 $145.90 $147.38 $150.35 $151.13 $150.09 $153.07 $157.30
Change in Climate-
Asking Rent *
0.4% 0.5% 1.0% 0.1% 0.6% 1.0% 0.7% -0.6% 1.0% 2.0% 0.5% -0.7% 2.0% 2.8%
Climate-
Asking Rent $183.71
$184.05 $185.06 $186.62 $186.65 $187.61 $188.47 $188.80 $187.08 $189.52 $193.36 $193.96 $193.20 $196.57 $201.48
Non-Climate- *
0.8% 1.3% 0.9% -0.1% 0.5% 1.0% 0.7% -0.7% 1.7% 2.6% 0.9% -0.6% 2.5% 3.7%
Rounding out the regions is the South Atlantic area. Table
4.16 shows that the region experienced rental rate increases comparable to the Southwest for climate-controlled units in the
Another unusual occurrence in the West is that the region posted greater rental
rate increases for non-climate-controlled units during that period, with all sizes
experiencing an increase of 3 to 3.7 percent ...
second quarter of 2015. Its 5-by-5s saw the greatest increase dur- ing that period with 4.3 percent. On the other end of the scale, climate-controlled 10-by-20s in the South Atlantic region had
Table 4.13 – West Rental Rates (Non-Climate-Controlled Asking Rent) Change in
Change in Non-Climate-
$76.11 $76.63 $77.58 $78.47 $78.50 $79.03 $79.40 $80.12 $79.41 $80.82 $82.85 $83.67 $83.18 $85.30 $88.06
Non-Climate- *
0.7% 1.2% 1.1% 0.0% 0.7% 0.5% 0.9% -0.9% 1.8% 2.5% 1.0% -0.6% 2.5% 3.2%
Controlled 5x5 Controlled 5x5 Controlled 5x10 Controlled 5x10 Controlled 10x10 Controlled 10x10 Controlled 10x15 Controlled 10x15 Controlled 10x20 Controlled 10x20 Asking Rent Asking Rent Asking Rent Asking Rent
Non-Climate- Asking Rent
$124.14 $125.00 $126.58 $128.24 $128.38 $129.02 $129.78 $131.04 $130.24 $132.53 $135.71 $136.96 $135.71 $139.30 $143.90
Non-Climate- Asking Rent
*
0.7% 1.3% 1.3% 0.1% 0.5% 0.6% 1.0% -0.6% 1.8% 2.4% 0.9% -0.9% 2.6% 3.3%
Non-Climate- Asking Rent
$164.85 $165.66 $167.80 $169.22 $169.50 $169.50 $170.34 $171.66 $170.90 $173.83 $177.86 $179.28 $178.19 $182.66 $188.83
Non-Climate- Asking Rent
*
0.5% 1.3% 0.8% 0.2% 0.0% 0.5% 0.8% -0.4% 1.7% 2.3% 0.8% -0.6% 2.5% 3.4%
Non-Climate- Asking Rent
$199.78 $201.69 $204.38 $205.17 $206.32 $207.13 $209.62 $210.82 $209.90 $213.02 $217.91 $219.17 $218.07 $223.57 $230.23
Non-Climate- Asking Rent
*
1.0% 1.3% 0.4% 0.6% 0.4% 1.2% 0.6% -0.4% 1.5% 2.3% 0.6% -0.5% 2.5% 3.0%
Source: © 2015 REIS, INC. Change in Change in
Change in Climate-
Asking Rent *
0.2% 0.5% 0.8% 0.0% 0.5% 0.5% 0.2% -0.9% 1.3% 2.0% 0.3% -0.4% 1.7% 2.5%
Climate-
Asking Rent $223.81
$225.10 $225.67 $227.28 $226.03 $227.72 $228.72 $229.35 $228.71 $231.47 $235.42 $236.82 $235.59 $239.81 $244.01
Change in Climate-
Controlled 5x5 Controlled 5x5 Controlled 5x10 Controlled 5x10 Controlled 10x10 Controlled 10x10 Controlled 10x15 Controlled 10x15 Controlled 10x20 Controlled 10x20 Asking Rent Asking Rent Asking Rent Asking Rent
Asking Rent *
0.6% 0.3% 0.7% -0.5% 0.7% 0.4% 0.3% -0.3% 1.2% 1.7% 0.6% -0.5% 1.8% 1.8%
Source: © 2015 REIS, INC. 2016 Self-Storage Almanac 55
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152
