California Self-Storage Market Report
The California self-storage industry has shown robust market performance in recent years. The sector has steadily expanded facility numbers and unit occupancy with a growing demand for storage solutions. Factors like population growth, the urban exodus, and changing lifestyles have contributed to the industry’s success. Additionally, innovations in technology and security have made self-storage facilities more appealing to consumers. While competition remains fierce, the market continues to thrive, offering various storage options and competitive pricing to meet the diverse needs of California residents and businesses.
Los Angeles, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $210
- Month-Over-Month Change for 10’x10’ Street Rate: -0.9%
- Under Construction Supply by Percentage of Inventory: -3.6%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -2% CC: -4%
Market Overview
Over 870,000 people in Los Angeles rent their homes, and about 510,000 are homeowners. On average, Los Angeles apartments are 788 square feet, while the
typical Los Angeles home spans 1,521 square feet. When examining the demographic of residential clients served by the Los Angeles self-storage industry, it accommodates individuals who rent their homes and those who own homes. This service extends their living spaces when their current living space cannot accommodate all their belongings.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non-climate-controlled (non cc) storage unit in Los Angeles is $210 as of July 2023.
According to Storage Café, Los Angeles has 94 self-storage facilities housing approximately 8,229 storage units. These facilities collectively provide a storage space of 6,557,892 square feet, offering an average of 1.7 square feet of storage per person.
San Jose, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $187
- Month-Over-Month Change for 10’x10’ Street Rate: -0.5%
- Under Construction Supply by Percentage of Inventory: 1.7%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -3% CC: -6%
Market Overview
San Jose boasts 66 self-storage establishments with around 3,907 storage units available. The combined storage capacity in the area amounts to 4,532,629
square feet, providing approximately 3.8 square feet of storage space for each resident, according to Storage Café.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non cc storage unit in San Jose is $187 as of July 2023.
San Diego, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $182
- Month-Over-Month Change for 10’x10’ Street Rate: -0.5%
- Under Construction Supply by Percentage of Inventory: 5.2%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -3% CC: -6%
Market Overview
San Diego boasts a total of 81 self-storage facilities, housing approximately 9,286 storage units. These local storage options collectively span a vast area of 6,292,268
square feet, equating to 3.8 square feet of storage space per resident, according to Storage Café.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non cc storage unit in San Diego is $182 as of July 2023.
In San Diego, the better-than-average rate performance can be attributed to the historically low levels of new supply and ongoing scarcity.
San Francisco Penin & East Bay, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $209
- Month-Over-Month Change for 10’x10’ Street Rate: -0.9%
- Under Construction Supply by Percentage of Inventory: 2.3%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -4% CC: -4%
Market Overview
San Francisco has 29 self-storage facilities with around 3,723 storage units available. The collective storage space in the area covers 2,210,592 square feet, equating to 2.1 square feet of storage space per person, according to Storage Café.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non cc storage unit in San Francisco is $209.
Inland Empire, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $140
- Month-Over-Month Change for 10’x10’ Street Rate: -0.7%
- Under Construction Supply by Percentage of Inventory: 0.9%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -5% CC: -7%
Market Overview
The Inland Empire is home to about 4,723,216 people. In 25 years, the Inland Empire is projected to experience a population increase exceeding 20%. This projected population growth is good news for overall self-storage demand throughout the market.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non cc storage unit in Inland Empire is $140.
Sacramento, CA
Key Insights
Source: Yardi Matrix
- Average 10’ x 10’ Street Rate (as of July ’23): $144
- Month-Over-Month Change for 10’x10’ Street Rate: -0.7%
- Under Construction Supply by Percentage of Inventory: 4.6%
- Year-Over Rent Change for 10’x10’ Units (July 22 vs. July 23): Non CC: -5% CC: -3%
Market Overview
Sacramento, with a population of 528,306 in 2023, serves as the county seat of Sacramento County. The city is presently experiencing an annual growth rate of 0.31%, reflecting a 0.93% population increase since the last census in 2020, when it was recorded at 523,416.
According to Yardi Matrix, the typical monthly expense for a 10’x10’ non cc storage unit in Sacramento is $144.
Sacramento has 94 self-storage facilities, housing approximately 5,428 storage units. The total storage capacity in the area amounts to 5,959,314 square feet, providing each resident with 4.9 square feet of storage space, according to Storage Café.
