The self-storage landscape in the U.S. has undergone significant evolution, driven by a growing number of households seeking additional space to store excess belongings. As a prominent sub-sector of the commercial real estate market, the self-storage industry offers individuals and businesses the flexibility to rent storage units—typically on a month-to-month basis—to accommodate temporary or long-term storage needs. Over the past four decades, this sector has emerged as one of the fastest-growing within U.S. commercial real estate, reflecting shifting lifestyles, urbanization, and increased mobility.

The industry’s unprecedented growth has been fueled by a broad customer base, including renters, homeowners, college students, small businesses, and individuals in transition—all of whom continue to demand flexible and accessible storage options. In 2016 alone, the U.S. was home to more than 58,000 self-storage facilities, comprising over 32 million units and occupying more than 2.3 billion square feet of storage space—nearly three times the size of Manhattan. This explosive expansion reflects both the adaptability and profitability of the sector.

Internationally, the trend is also gaining momentum. As of 2017, the UK had 42.2 million square feet of self-storage space, followed by France with 10 million, and the Netherlands with 9.1 million. Markets like Mainland China and Brazil are experiencing rapid development as well—China saw a 52% increase in facilities between 2015 and 2016, while Brazil is adding 25 to 30 new properties annually. The globalization of self-storage has also been accelerated by innovations in real estate investing, such as equity crowdfunding, which has expanded access to capital and encouraged development.

In the U.S., rental storage usage has risen by over 10% in the past two decades. The industry now generates more than $30 billion in annual revenue, with continued growth expected. A demand study noted that the number of renters using storage facilities nearly doubled between 2007 and 2013. Of 17 million renters surveyed, 2 million stated they would likely rent in the future. According to IBISWorld, the industry’s revenue is projected to grow at an annual rate of 2.9%, reaching $32.6 billion by 2020, with an overall growth rate of 14%.

Leading self-storage operators in the U.S. include Public Storage, Extra Space Storage, CubeSmart, Life Storage, and U-Haul—with Public Storage owning the largest number of facilities nationwide. The sector's continued expansion, both domestically and globally, underscores its enduring demand, resilience, and investment appeal.