Lessors of mini warehouses and self-storage units show significant financial gains during COVID-19 pandemic.





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America Counts: Stories Behind the Numbers

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Self-Storage Industry Withstands Economic Volatility Through COVID-19

The self-storage industry has demonstrated unique resilience to economic downturns, including the financial impact of the COVID-19 pandemic, according to U.S. Census Bureau data.

Census Bureau?s latest Service Annual Survey (SAS) shows increasing revenue trends from 2019 to 2021 for Lessors of Miniwarehouses and Self-Storage Units.

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Lessors of Nonresidential Buildings (except Miniwarehouses) experienced a downward trend of -5.6% from 2019 to 2020 but rebounded in 2021. Lessors of Residential Buildings and Dwellings saw a change of -0.6% from 2019 to 2020 (this change is not statistically significant based on a 90% confidence interval) and also rebounded in 2021.

Self-storage units are a service that can be used by those planning a change in residence, downsizing or in need of more storage space.

A report suggests that?self-storage may have benefited?during the pandemic from people needing more storage as they relocated or made room for home offices to work remotely.

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* Changes in living and working environments
* Low operating costs and flexible leases
* Service Annual Survey data





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