Self Storage Combined MSAs Report Q4 2019
Self-Storage Metropolitan Statistical Area Report
4th Quarter 2019
Rochester, NY MSA Sample Size SSDS Sample Size
61
62%
Sample as Percent of Total Facilities
Market Conditions
Rentable SF Per Person
Conclusion
4.09 6.50
Under-Supplied
MSA
National
Supply Ratios
MSA
Top 50 MSA
Diff
Households per existing self storage unit
16.7
7.6
9.1
Performance at a Glance
Quarterly
Seasonal
Annual Change
4Q19 vs 3Q19
4Q19 vs 4Q18
Up
Down -2.2% Down -4.0% Down -6.8%
Down -0.6% Down -4.0% Down -1.8%
Asking Rental Rate
5.9%
Up
Physical Occupancy Rate Rent per Available SF (Rental Income)
2.0%
Up
7.6%
Self-Storage Performance Index (SSPI)®
Asking Rental Rates Non-Climate Controlled - Ground Levels Min
100 120 140 160 180
Median $45.00 $65.00 $85.00 $132.00 $185.00
Max
Average $45.70 $66.04 $91.81 $139.13 $186.26
$38.00 $55.00 $75.00 $115.00 $160.00
$55.00 $75.00 $105.00 $169.00 $221.00
25 SF 50 SF
100 SF 200 SF 300 SF
60 80
Base = 4 Quarter 2003
SSDS Index
Rent per Available SF 100 SF
4Q18
4Q19
Change
MSA Index
National Index
$0.7900 $0.7939
$0.7360 $0.8047
-6.8% 1.4%
Median Average
Rent Per Available Square Foot (based on 100 square foot units)
Occupancy
4Q18 90.0% 85.9%
4Q19 86.0% 81.8%
Change
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00
-4.4% -4.8%
Physical Unit Occupancy Economic Occupancy
Concessions (Percentage Offering)
4Q18
4Q19
Change
36.4% 51.5%
34.4% 56.8%
-5.3% 10.3%
MSA
Nationwide
MSA - Income & Expenses Guide Medians MSA
National
$/SF 25.06
$/SF 11.35
MSA
National
Effective Gross Income
Physical Occupancy
3.09 0.24 0.67 0.83 1.52 1.54 0.75 0.26 0.14
1.12 0.12 0.35 0.46 1.04 0.67 0.27 0.21 0.07
Taxes
Insurance
72.0% 76.0% 80.0% 84.0% 88.0% 92.0%
Repairs & Maintenance
Administration
On-Site Management Off-Site Management
Utilities
Advertising
Miscellaneous
Total Expenses
9.04
4.31
36.1%
38.0%
Expense Ratio
MSA
National
The data and findings contained in this report are the result of operating data collected each quarter from more than 18,000 self- storage facilities located in the United States. Source: Cushman & Wakefield, Inc. This publication is intended solely for use by paid subscribers. Reproduction or distribution in whole or part without written permission is prohibited and subject to legal action. Copyright® 2020.
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