Marcus & Millichap

Self-Storage Outlook

Midyear 2018

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Economic Growth Lifts Demand for Self-Storage as Properties Adapt to Changing Market Conditions and Consumer Tastes

Self-storage properties well positioned for current economic conditions. Today’s economy is strengthening self-storage in three main ways. Consumer spending is up, aiding demand through the greater accumulation of possessions. More households are forming, many into apartments, and tenants often store seasonal items such as holiday decorations and camping gear. Finally, many new hires are moving to cities for jobs, requiring storage during their transition. In the eventuality of a downturn, the possibility of household consolidation will also increase the need for storage space as residents move in together.

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