Rental Rates • Section 8


drops during the two quarters in between. Both 10-by-15 units and 10-by-20 units saw slight increases for Q2 2017 over Q3 2016—two cents and three cents respectively.


Table 8.10 compares climate-controlled rental rates vs.


non-climate-controlled rates for the West North Central subregion of the Midwest. Unlike the East North Central subregion, climate-controlled rates for 2017 did not exceed rates for July of 2016.


The biggest gap in rates between July 2016 and June


2017 can be seen for climate-controlled 10-by-20 units ($17.87). This is followed by a decrease of $8.41 for 10-by-10 units and a $7.49 difference for 10-by-15 units. The smallest decline in rates was for 5-by-10 units ($5.62), with 5-by-5 units having a $6.51 difference.


The same trend can be seen for non-climate-controlled


units in the West North Central subregion. All June 2017 rates are lower than rates for July 2016. Unlike climate- controlled rates, 10-by-15 units showed the sharpest decline at $17.48. Next are 10-by-10 units with a drop in price of $14.34 and 10-by-20 units with a $14.08 dip in price. For 5-by-5 units there was a $4.80 decrease in price, followed by a $4.79 drop for 5-by-10 units.





 


7/1/16 8/1/16 9/1/16


10/1/16 


$62.23 $65.79 $64.38 $59.47


11/1/16 $60.01 12/1/16 1/1/17 2/1/17 3/1/17 4/1/17 5/1/17 6/1/17


$55.08


 





$89.12 $90.05 $89.31 $90.12 $84.53 $78.41


$54.39 $81.05 $54.22 $56.61 $57.38 $58.53 $55.72


$82.04 $82.15 $83.86 $84.03 $83.50


$135.24 $136.17 $134.08 $130.49 $127.80 $124.29 $125.06 $127.23 $125.57 $127.27 $128.63 $126.83


Source: Union Realtime and the 2017 Self-Storage Almanac


 


     


2016 Q3 $1.80 $1.19 $0.95 $0.78 $0.65 2016 Q4 2017 Q1 2017 Q2


Source: Union Realtime and the 2017 Self-Storage Almanac


$1.70 $1.16 $0.94 $0.77 $0.68 $1.62 $1.11 $0.85 $0.71 $0.62 $1.68 $1.15 $0.86 $0.71 $0.61





 





2016 Q3 $2.57 $1.79 $1.35 $1.12 2016 Q4 2017 Q1 2017 Q2


Source: Union Realtime and the 2017 Self-Storage Almanac 2018 Self-Storage Almanac 95


    $1.09


$2.33 $1.69 $1.27 $1.07


$2.20 $1.63 $1.26 $1.06 $1.04 $2.29 $1.68 $1.28 $1.08


$1.09 $1.02


 $167.57


$167.29 $167.13 $164.64 $159.61 $157.41 $157.58 $159.21 $162.22 $162.86 $162.17 $160.08


 $216.61


$214.88 $223.16 $213.62 $223.25 $217.55 $211.44 $205.22 $205.92 $204.22 $205.86 $198.74





$48.03 $44.66 $43.15 $42.87 $42.81 $41.71 $41.19 $40.32 $39.76 $40.61 $42.12 $43.23





 


$63.26 $57.97 $57.95 $58.86 $59.02 $56.65 $56.09 $55.23 $55.04 $55.89 $57.89 $58.47


$101.97 $93.02 $91.37 $93.01 $94.60 $93.66


 $126.71


$114.14 $113.12 $114.05 $117.31 $117.50


$86.93 $109.95 $83.94 $82.88 $84.52 $86.13 $87.63


$106.11 $103.84 $104.53 $107.09 $109.23





$138.94 $129.46 $127.62 $132.01 $137.87 $136.54 $127.92 $122.48 $120.84 $119.82 $121.87 $124.86


Tables 8.11 and 8.12 compare the quarterly price per square


foot rates for the West North Central subregion. Unlike East North Central climate-controlled rates, these did not bounce back to the Q1 2016 prices; nor did any unit sizes show an in- crease. While both 10-by-10 and 10-by-20 climate-controlled units showed a decrease of seven cents per square foot, the biggest disparity from Q3 2016 to Q2 2017 can be seen for 5-by-5 units at 28 cents per square foot.


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