Key indicators for self storage remained positive for 2022, despite a deceleration in rent growth and occupancy during the fourth quarter. Not only did market performance remain near record levels attained over the past two years, but the self storage transaction activity remained steady in 2022.
As the market returns to more normalized levels, primarily driven by the Fed’s recent interest rate hikes, secular factors such as population growth, increased divorce rates, migration and work patterns will all continue to drive demand and produce favorable returns to investors. This is a good indication that the sector will continue to post strong performance returns in both the short- and long-term.
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U.S. Self Storage: Market Trends & Sector Outlook
The recent pandemic challenged economic and social norms, which had a profound impact on all commercial real estate sectors; however, these circumstances pushed self storage economics to all-time highs.
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