Self Storage Combined MSAs Report Q4 2019
Self-Storage Metropolitan Statistical Area Report
4th Quarter 2019
Boston-Cambridge-Quincy, MA-NH MSA Sample Size SSDS Sample Size 179 Sample as Percent of Total Facilities 45%
Market Conditions
Rentable SF Per Person
Conclusion
4.73 6.50
Equilibrium
MSA
National
Supply Ratios
MSA
Top 50 MSA
Diff
Households per existing self storage unit
8.9
7.6
1.2
Performance at a Glance
Quarterly
Seasonal
Annual Change
4Q19 vs 3Q19
4Q19 vs 4Q18
Down -7.4%
Down -3.8%
Down -1.0%
Asking Rental Rate
Up
Up
Up
Physical Occupancy Rate Rent per Available SF (Rental Income)
3.0% Down -3.8%
4.0%
4.0%
Up
Up
0.7%
0.2%
Self-Storage Performance Index (SSPI)®
Asking Rental Rates Non-Climate Controlled - Ground Levels Min
140
Median $49.00 $79.00 $125.00 $193.00 $270.00
Max
Average $50.51 $77.65 $127.63 $202.87 $266.33
120
$39.00 $65.00 $105.00 $160.00 $210.00
$59.00 $90.00 $149.00 $239.40 $300.00
25 SF 50 SF
100
100 SF 200 SF 300 SF
80
Base = 4 Quarter 2003
60 SSDS Index
Rent per Available SF 100 SF
4Q18
4Q19
Change
MSA Index
National Index
$1.0218 $1.0795
$1.0290 $1.0869
0.7% 0.7%
Median Average
Rent Per Available Square Foot (based on 100 square foot units)
Occupancy
4Q18 84.0% 78.6%
4Q19 88.0% 82.3%
Change
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10
4.8% 4.7%
Physical Unit Occupancy Economic Occupancy
Concessions (Percentage Offering)
4Q18
4Q19
Change
44.6% 51.5%
45.8% 56.8%
2.7%
MSA
10.3%
Nationwide
MSA - Income & Expenses Guide Medians MSA
National
$/SF 14.27
$/SF 11.35
MSA
National
Effective Gross Income
Physical Occupancy
0.99 0.11 0.53 0.52 1.32 0.86 0.47 0.24 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
5.18
4.31
36.3%
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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