Section 8 • Rental Rates Unit price per square foot for climate-controlled units can be
seen in Table 8.6. Among all unit sizes, the highest price per square foot ($2.85) can be seen for 25-square-foot units in May of 2016; 50-square-foot units had a high of $2.15 in April of 2016. The remain- ing three unit sizes saw per square foot rate highs between $1.65 and $1.32.
4/1/16 5/1/16 6/1/16 7/1/16 8/1/16 9/1/16
$2.34 $2.36 $2.40 $2.35 $2.20 $2.08
10/1/16 $2.01 11/1/16
12/1/16 $1.95 1/1/17 2/1/17 3/1/17 4/1/17 5/1/17 6/1/17 7/1/17
$1.97 $1.97
$1.99 $2.03 $2.19 $2.24 $2.24 $2.26
Source: Union Realtime
4/1/16 5/1/16 6/1/16 7/1/16 8/1/16 9/1/16
10/1/16 11/1/16 12/1/16 1/1/17 2/1/17 3/1/17 4/1/17 5/1/17 6/1/17 7/1/17
$2.65 $2.85 $2.43 $2.50 $2.45 $2.34 $2.24 $2.16 $2.15 $2.17 $2.19 $2.21 $2.36 $2.38 $2.38 $2.44
Source: Union Realtime 92 Self-Storage Almanac 2018
$2.15
$2.10 $1.84 $1.89 $1.84 $1.77 $1.71 $1.65 $1.63 $1.63 $1.64 $1.66 $1.76 $1.78 $1.80 $1.81
$1.65
$1.61 $1.47 $1.51 $1.48 $1.43 $1.39 $1.34 $1.32 $1.32 $1.33 $1.34 $1.41 $1.41 $1.44 $1.46
$1.43
$1.45 $1.29 $1.33 $1.31 $1.27 $1.23 $1.18 $1.16 $1.17 $1.18 $1.18 $1.25 $1.25 $1.28 $1.30
$1.28
$1.30 $1.32 $1.29 $1.23 $1.19 $1.16 $1.12 $1.10 $1.11 $1.12 $1.12 $1.18 $1.21 $1.25 $1.27
$1.60
$1.65 $1.70 $1.64 $1.55 $1.49 $1.44 $1.41 $1.40 $1.41 $1.43 $1.44 $1.57 $1.60 $1.62 $1.63
$1.25
$1.25 $1.36 $1.33 $1.25 $1.22 $1.18 $1.14 $1.14 $1.14 $1.15 $1.16 $1.25 $1.26 $1.28 $1.29
$1.08
$1.10 $1.17 $1.13 $1.07 $1.05 $1.01 $0.98 $0.98 $0.98 $1.00 $1.00 $1.07 $1.07 $1.09 $1.10
$1.00
$1.03 $1.03 $1.01 $0.96 $0.93 $0.91 $0.89 $0.89 $0.90 $0.91 $0.91 $0.97 $0.98 $0.99 $1.01
December of 2016 saw the lowest price per square
foot across all unit sizes, ranging from $2.15 for a 5-by- 5 unit to a low of $1.10 per square foot for 10-by-20 units. Prices stayed the same in January of 2017 for 5-by-10 and 10-by-10 units, while other sizes saw in- creases of either one or two cents.
Across the board, price per square foot climate-
controlled rates increased to their highest rate for the year in July of 2017, with 5-by-5s or 25-square-foot units jumping by 27 cents. An 18-cent per square foot increase was seen for 5-by-10 units, followed by a 16-cent increase for 10-by-20 units. The smallest in- crease per square foot was seen for 10-by-15 units at 13 cents.
December of 2016 saw
the lowest price per square foot across all unit sizes, ranging from $2.15 for a
5-by-5 unit to a low of $1.10 per square foot for 10-by-20 units.
Rates For Climate Control Charts 8.1 through 8.5 on the following pages com- pare rental rates for climate-controlled units to those for non-climate-controlled units by size.
As seen in Chart 8.1, 5-by-5 non-climate-controlled
rates peaked in the second quarter of 2016 at $59, as did climate-controlled units at $73.52. The rates for Q3 2016 dipped slightly to $55.33 for non-climate- controlled units and $60.72 for climate-controlled units, with the winter months (Q3 2016 and Q1 2017) dropping again as is typical for the renting season. Q2 2017 saw a healthy rebound to $55.63 for non- climate-controlled units and $59.26 for those with climate-control features.
For non-climate-controlled 5-by-10 units, as seen
in Chart 8.2, rents peaked in Q2 2016 at $82.29—an increase from $79.75 during the previous quarter. Rates for climate-controlled units also peaked during Q2 2016 at $104.87, up from $101.45 in Q1, which rep- resents an uptick of $3.42.
Rates declined slightly for this unit size over the
next three quarters, as it did for 5-by-5 units. There is, however, an anomaly for non-climate-controlled 5-by-10 units in Q2 of 2017 when rates slightly exceed- ed those of Q1 2016 ($79.96 vs. $79.75, respectively).
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