Self-Storage Industry Withstands Economic Volatility Through COVID-19 – U.S. Census Bureau

The self-storage industrys ability to withstand economic downturns has also been evident in data from the National Association of Real Estate Investment Trusts (NAREIT). A REIT is a company that, in addition to meeting certain shareholder and investment requirements, owns, operates or finances income-producing real estate, such as self-storage units.

In 2008, amid the Great Recession, most REITs suffered losses, but self-storage showed a positive 5% return, according to NAREIT.

Occupancy rates provide more evidence of the industrys resilience. According to S&P Global Market Intelligence, self-storage occupancy averaged 96.5% in the third quarter of 2021 compared to 91.5% in the first quarter of 2020.

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Self-Storage Industry Withstands Economic Volatility Through COVID-19 - U.S. Census Bureau

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