Storable Releases 2025 Self-Storage Industry Outlook

Posted by Modern Storage Media on Oct 17, 2024 2:12:54 PM

Storable, a leader in integrated technology solutions for the self-storage industry, has released a comprehensive report shedding light on the future of the self-storage industry. The “2025 Self-Storage Industry Outlook” report, based on a survey of over 1,000 U.S. consumers across various demographics, offers valuable insights into storage demand, technology adoption, and shifting customer preferences.

 

The report paints a picture of an industry on the cusp of transformation. With a perfect storm of increased mobility, shifting economic tides, and technological advances, self-storage operators stand at the threshold of a potential boom. For example, the report found that 37 percent of Americans are either considering or planning a move within the next six to 12 months–a surge that could offset a recent dip in self-storage rental rates and position the industry for a notable rebound. The Outlook’s findings offer a roadmap for savvy operators to thrive in this evolving landscape.

 

Key findings from the report include:

  • Surge in Relocation Plans - The nearly 4-in-10 (37 percent) of Americans that are either considering or planning a move within the next six to 12 months is a notable increase from the 25 percent who reported the same in a previous Storable report released last March. A further 23 percent said they were “maybe” considering a move, potentially increasing the total percentage to over 60 percent.
  • Regional Preferences - Self-storage operators in the Northeast should also prepare for an uptick in new tenants, with 23 percent of respondents planning to move to the region in the next six to 12 months. This is followed by the West (12 percent) and Midwest (10 percent).
  • Price Sensitivity on the Rise: 83 percent of respondents cite price as the most critical factor when choosing a storage facility. This is a marked increase from the 69 percent who said the same earlier this year. Additionally, 33 percent of tenants claim a price increase of 10 to 20 percent would trigger them to leave their self-storage facility.
  • Access to Tech a Value-Add: Customers are watching their wallets, but they’re willing to pay more for things like remote access, climate-controlled units, and strong security.
  • Need to Meet Flexible Demands: 79 percent of respondents say they need storage for six months or less, indicating demand for flexible agreements and easy extension solutions.

 

“Our 2025 Self-Storage Industry Outlook isn’t just a report—it’s a blueprint for success in a rapidly changing market,” said Chuck Gordon, CEO of Storable. “We’re seeing a perfect storm of economic shifts and increased mobility that’s reshaping tenant demands. Operators who can pivot quickly—balancing competitive pricing with tech-driven, value-added services—will be the ones who thrive. This report gives them the insights to do just that.”

 

From leveraging cutting-edge tech to tapping into emerging customer needs, the report equips industry players with the insights needed to turn challenges into opportunities and position themselves for success in the years ahead.

 

Download the full “2025 Self-Storage Industry Outlook” here.


About Storable

Storable is a leading provider of integrated technology solutions powering the self-storage industry. Storable is committed to pushing the boundaries of innovation, offering a suite of products that includes management software, marketplace, websites, access control, insurance, payments, and more. Storable takes pride in supporting operators and managers along each step of their journey and enabling them to achieve their operational goals. For more information, visit http://www.storable.com.