Self Storage Becoming a Booming Business

A picture of three blue self-storage unit doors next to each other, attached to the same red structure.

© Benjamin Rondel - The Image Bank / Getty Images

The self-storage industry is seeing rapid growth as a result of the pandemic spurring more people to reorganize their homes, to find extra space as they work from home, and to move to the suburbs or move in with more family members.

Thirty-eight percent of Americans reported being self-storage users, according to a newly released StorageCafe survey of about 17,000 survey responses.

The report identified some of the latest self-storage trends, including:

  • Gen Xers (54%) and baby boomers (51%) are the most likely to use self-storage. Millennials are also showing increased interest at 40%.
  • Living in a spacious home doesn’t negate the need for self-storage. About 42% of residents of homes sized from 1,500 to 2,499 square feet use self-storage, along with the same percentage of residents in larger homes, from 2,500 to 3,500 square feet.
  • About one-third of Americans say they put furniture in self-storage, the most common item to store. That is followed by clothing, home appliances, sporting items and hobby gear, and business items.
  • Downsizing is the main reason Americans rent a storage unit. Next are moving or needing more storage space at home.
  • By state, Idaho has the highest percentage of the population that uses self-storage, at 59%; next is Utah at 54%, then New Mexico at 53%, New Hampshire at 49%, and Wisconsin at 48%.
  • The most popular storage size unit is 10’ x 10’, followed by 5’ x 10’.