![\"The](\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/02\/The-historical-building-of-the-Bank-of-England-London-UK.-Established-in-1694.jpg\")
The historical building of the Bank of England, London, UK. Established in 1694.<\/p><\/div>\n
American Beginnings of Self Storage<\/h3>\n
Still in the 19th century, but switching continents, self storage comes into its own in America. In the late 1800s, it was the Bekins Van and Storage Co<\/a>. \u2013 a moving and storage company owned by the Bekins brothers, Martin and John \u2013 that kickstarted self storage here. They acted as a moving and storage company.<\/p>\n The business expanded when Bekins Van and Storage Co. moved to LA in 1895 to support cross-country moving. Next, the business grew even more with the addition of Bekins Warehouse that later covered southern California too. Storage for movers and for local businesses was also part of their services.<\/p>\n While Berkins paved the way for moving companies and self storage, the latter flourished decades later. However, in the 1920s, when owning a car was becoming more commonplace, people needed a place to keep their vehicle. Trachte Building Systems<\/a>, one of today\u2019s main builders of self storage facilities, started their business in 1928, offering portable storage units for vehicles.<\/p>\n Self storage as we know it today came into being in the late 50s or the early 1960s. With the expansion of the highway system in the 1950s, people started moving more, which, in turn, created the need for self storage. There is some debate as to where exactly in the U.S. self storage started. Its modern beginnings are sometimes attributed to Russ Williams and Bob Munn, who started the A1 U-Store-It U=-Lock-It U-Carry-the-Key business in Odessa, Texas. This business was initially targeted at oil companies so that they could keep their supplies, but residential use soon followed. Most homes in Texas do not have basements, often used for storage, which helped to support the expansion of the service.<\/p>\n A few years later, Public Storage and Shurgard National Centers opened up in 1972, with mom and pop businesses following suit in the coming years. Between 1970 and 2008, disposable income went up and the cost of commodities went down, storage facilities experienced a boom as they helped to house items that just couldn\u2019t fit into many American homes. An interesting phenomenon occurred though at the end of 1980s \u2013 the commercial real estate crash brought the country into a recession at the beginning of the 1990s. As people downsized, self storage became even more popular and many self storage units ended up being occupied as a result. The rest is history.<\/p>\n There is much you can say about the self storage industry\u2019s evolution. Here are some of the most interesting facts about it by statistics alone:<\/p>\n Self storage has grown gradually since the 60s, but the last decade or so has known historic growth. Nowadays, the self storage industry is booming. About 350M square feet of self storage space was delivered in the last decade<\/a>, with 46M square feet of self storage added to the national pipeline in 2021 alone. That\u2019s pretty impressive, right? There\u2019s more. The self storage space delivered in 2021 is large enough to cover Central Park or Grand Central Terminal. Construction in 2021 makes up 3% of the total inventory. Additionally, 2021 deliveries increased by 3% compared to 2020, showing the industry\u2019s resilience in the face of economic adversity. Even throughout the pandemic, self storage continued to grow both on the construction and the price evolution fronts.<\/p>\n As for 2022, over 50M square feet of self storage space is expected to be added to the total inventory. Nowadays, the industry encompasses over 1.6B square feet of self storage space. Locally, self storage inventory is distributed unevenly across the country. On the one hand, the Dallas metro area currently boasts the largest self storage inventory, with about 72M square feet of self storage space. On the other hand, the Reno metro area claims the most square footage of self self storage per capita (16 sq. ft.\/person), more than double the national benchmark of 7 square feet of self storage space per person.<\/p>\n Self storage facility with indoor and outdoor units<\/p><\/div>\n A 10\u2019x10\u2019 standard non-climate-controlled unit rents for $126\/month, registering a 2.3% decrease as compared to the previous year. Price growth has stagnated for the first time this year, as the industry felt the ripples of inflation. However, rates differ based on location, with some cities charging more than others for the service. Renting a self storage unit in San Rafael, California<\/a> ($301\/month) costs Americans the most, followed by Santa Barbara, California<\/a> ($286\/month), Honolulu, Hawaii<\/a> ($277\/month) and San Francisco, California<\/a> ($271\/month).<\/p>\n Take a look at how self storage<\/a> rates fare in other cities:<\/p>\n Self storage is a useful service that people turn to in various life circumstances, whether it\u2019s moving, downsizing, starting a business, doing a home improvement project or simply to keep an organized home. As it turns out, one in three Americans uses self storage for one reason or another. However, only 1 in 2 renters turns to the service, with 12% of them saying they plan to use the service in the future, based on the results of a recent self storage survey<\/a>.<\/p>\n For Americans, in general, moving \u2013 for reasons other than downsizing \u2013 is the most quoted reason for turning to self storage, followed by not having enough space at home and downsizing. Changes in household size, storing for business purposes and home renovation are also cited as instances when self storage is used.<\/p>\n Couple unloading moving boxes.<\/p><\/div>\n Gen Xers are the most likely age group to rent self storage, with 54% of them putting their belongings in a storage unit. As for other age groups, 40% of millennials and 25% of Gen Zers also turn to the service. Slightly more women (48%) than men (45%) turn to the service to help them with their various storage needs.<\/p>\n Furniture is the number one item kept in storage, with clothing, home appliances and equipment following behind. Home appliances are also popular items to keep in storage but to a lesser extent.<\/p>\n As for unit sizes, the 10\u2019x10\u2019 unit<\/a> is the most rented size, followed by the 5\u2019x10\u2019<\/a>.\u00a0 The 5\u2019x5\u2019<\/a> and 10\u2019x15\u2019<\/a> are equally used and the least popular unit size is the 10\u2019x30\u2019<\/a>. Most people rent a self storage unit for over a year, followed by those who turn to short-term self storage (2-6 months).<\/p>\n You might ask yourself: How could people make a \u201cstorage find\u201d unless they\u2019re featured on an episode of \u201cStorage Wars\u201d? The answer is simple. It\u2019s by participating in a storage auction<\/a>. When storage renters fail to pay their bills, the facility auctions off the contents of their unit. Here are some of the most interesting self storage finds:<\/p>\n It\u2019s hard to imagine celebrities living just like the rest of us, but as it turns out, in some respects, they do. A lot of them rent self storage just like the rest of us. Whether it\u2019s to store costumes and props or they\u2019ve also run out of space in their homes and need extra room to keep their belongings. Here are some famous people using self storage and the items they kept in their units:<\/p>\n Paris Hilton is one the celebrities that came into the limelight for renting a self storage. That\u2019s because her 6,000-square-foot storage unit was auctioned off back in 2005. It was a live event showing the new owner going through the contents of the unit. Personal diaries, photographs, computers, clothing and furniture were the main finds. They brought the new owner an impressive $10M.<\/p>\n Did you know Nicholas Cage was into comic books? That particular piece of information surfaced when his Action Comics #1 edition was stolen from him. But where is the connection to self storage? Years later, the ill-fated comic book resurfaced when a storage unit was up for auction. Fortunately, Nicholas Cage got back his comic book after all. He originally paid around $150K for it, and it\u2019s now estimated to be worth over $2 million.<\/p>\n Pop art comics style with excited girl reading comic book<\/p><\/div>\n It seems every star has their own story, including when it comes to self storage. Ringo Star kept some interesting items in his unit \u2013 neither of them were stolen or auctioned off by the facility as was the case with other celebrities. Instead, it was Ringo Star himself who did the auctioning. He had over 800 items for sale, with a guitar that once belonged to John Lennon \u2013 valued at $800K+. He also auctioned off his Ludwig Oyster Black Pearl drum kit, which he used in concert between 1963 and 1964.<\/p>\n As self storage became a mainstream service, its use started being reflected in movies and TV shows. Here are some notable mentions:<\/p>\n Sheldon Cooper\u2019s beloved quirkiness has led him to do all sorts of unusual things, but turning to storage makes him \u201cone of us,\u201d but with a twist. In season 9, episode 19 \u2013 \u201cThe Solder Excursion Diversion,\u201d we find out that Sheldon has a secret storage unit. How is that revealed? He takes Amy Farrah Fowler, his girlfriend, over there. He\u2019s renting a storage unit in Pasadena, California,<\/a> where books, old electronics, clothes and more are stored. They\u2019re basically things he no longer uses but has a hard time letting go of. The unit is fittingly called \u201cThe Fortress of Shame\u201d because he is aware he shouldn\u2019t be keeping all this stuff, but can\u2019t help himself.<\/p>\nSelf Storage Takes Off in the 1960s<\/h3>\n
2. Self Storage by the Numbers<\/h2>\n
Self Storage Development<\/h3>\n
![\"self](\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/02\/self-storage-facility-with-indoor-and-outdoor-units.jpg\")
Cost of Self Storage<\/h3>\n
\nStorage units in Los Angeles<\/a>
\nStorage units New York City<\/a><\/div>\n
\nStorage units in Orlando<\/a>
\nStorage units in Philadelphia<\/a>
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\nStorage units in Miami<\/a>
\nStorage units in Dallas<\/a>
\n<\/div><\/div>\nWho Uses Self Storage and why<\/h3>\n
Reasons for Renting Self Storage<\/h3>\n
![\"couple](\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/02\/couple-unloading-moving-boxes.jpg\")
Self Storage use by Generation<\/h3>\n
Most Stored Items<\/h3>\n
Most Popular Self Storage Unit Sizes<\/h3>\n
3. Most Interesting Storage Finds<\/h2>\n
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4. Famous People Using Self Storage<\/h2>\n
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5. Self storage in famous movies and TV shows<\/h2>\n
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