Section 8 • Rental Rates
Changeup In Data The 2014 Almanac marked the first year for which rental rate data was provided by REIS; data was specific to the top 50 U.S. metro areas and 279 submarkets. Rental rate data for the states not covered by REIS were previously provided by Stortrack. This year, all rental rate data is provided by Union Realtime, the official data provider for the Self-Storage Almanac.
New data from Union Realtime
begins with Q3 2016 and represents a wider range of facilities across the entire U.S. rather than top metro area data reported previously.
As a comparison, Tables 8.3 (below) and 8.4 (page 91) rep-
resent the historical rental rates from the 2017 Almanac. New data from Union Realtime, which covers rental rates on a na- tional basis through Q2 2017, is charted separately in Tables 8.1 and 8.2 on the previous page. These tables do include 2016 Q1 and Q2 data from the previous Almanac as a refer- ence point.
The National Numbers When looking at the national rental rate data in Tables 8.1 and 8.2, it is important to understand that the 2016 Q1 and Q2 numbers reflect data provided by REIS for the 2017 Alma- nac. New data from Union Realtime begins with Q3 2016 and represents a wider range of facilities across the entire U.S. rather than top metro area data reported previously.
In looking at the non-climate-controlled rental rates in Ta-
ble 8.1, we can see a drop in pricing for the last two quarters of 2016. Rates show a slight increase for all unit sizes begin- ning in Q1 of 2017, with more substantial increases for Q2. While this indicates that overall pricing is down slightly from Q2 2016, this is due to the increase in the number of facili- ties being monitored and the fact that these facilities are not located solely in metro areas where rents tend to be higher.
The same trend can be seen in Table 8.2 for climate-
controlled units, with prices dropping and then increasing by Q2 of 2017. The smallest overall drop is seen for climate- controlled 5-by-5 units, which average about $14 less than those reported for metro areas in Q2 of 2016. One must take into account that the most recently reported rental rates are for facilities in all areas, including suburban and rural markets where rates are less than those commanded for metro areas.
2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2
*
*
2013 Q3 $52.54 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
2015 Q3 $56.47 2015 Q4 2016 Q1 2016 Q2
$52.10 $52.74 $54.22 $54.47 $54.00 $55.07 $56.87
$56.23 $57.28 $59.00
1.0% $72.15 0.5% -0.8% 1.2% 2.8% 0.5% -0.9% 2.0% 3.3% -0.7%
$72.78 $72.11 $73.19 $75.21 $75.61 $74.87 $76.49 $79.12 $78.64
-0.4% $78.29 1.9% 3.0%
90 Self-Storage Almanac 2018
$79.75 $82.29
0.9% $115.04 -0.9% $114.10 1.5% 2.8% 0.5% -1.0% 2.2% 3.4%
$115.84 $119.06 $119.66 $118.41
-0.6% -0.4% 1.9% 3.2%
0.6% 1.1% 1.2% 0.0% 0.5% 1.0% 1.1%
-0.8% $147.93 1.5% 2.8%
$120.93 2.1%
$150.30 $154.05
$153.53
0.5% 1.2% 0.9% 0.1% 0.3% 0.7% 0.8% -0.7% 1.6% 2.5%
2011 Q4
$50.09 $50.40 $51.03 $51.38 $51.34 $51.74 $52.27
0.6% 1.3% 0.7% -0.1% 0.8%
$69.03 $69.60 $70.40 $71.05 $70.97 $71.43
0.8% 1.1% 0.9% -0.1% 0.6% 1.0%
$109.00 $109.61 $110.82 $112.12 $112.15 $112.74 $113.83
* $142.70 * $171.31 $143.35 $145.07 $146.31 $146.43 $146.93 $147.89 $149.02
0.5% $154.78 0.5% -1.0%
$156.81 2.1%
-0.4% $160.98 -0.9% 1.7% 2.8%
$159.81 $162.94 $167.59
$125.24 3.6% $162.22 3.5% $124.68 $123.54 $125.68 $129.23
Source: Union Realtime and the 2017 Self-Storage Almanac * Data Not Available *
$172.26 $174.22 $175.39 $176.19 $177.21 $179.74 $180.99 $179.76 $182.26 $186.85 $187.63
-0.8% $186.27 $190.00 $196.39
-0.8% $195.28 -0.7% 2.0% 2.9%
$193.95 $196.98 $202.85
0.6% 1.1% 0.7% 0.5% 0.6% 1.4% 0.7% -0.7% 1.4% 2.5% 0.4%
-0.7% 2.0% 3.4%
-0.6% -0.7% 1.6% 3.0%
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