1 in 5 Americans has used a storage unit in their lifetime, and a large percentage have reported planning to use one in the future. Self-storage facilities are popping up in multiple locations across the country as the growing need for storage continues. But why are these facilities becoming more popular? What benefits are people getting from renting a storage unit? This blog will dive deeper into why self-storage is growing in popularity, how it benefits people of all ages, and why this industry is projected to grow even more over the next few years.
1- A Growing Need To Purge And Reorganize
Many adults have begun decluttering and purging their spaces after the worldwide pandemic. Getting rid of items that aren’t frequently used can help us feel more organized and productive while living in our homes. Renting a storage unit gives people a space to put these items if they want to sell them or can’t part with them quite yet, but don’t have space for them in the home. Whether users are ready to toss out all of their small knick-knacks or need a little more time to determine what furniture or clothing is truly needed, renting a unit is a great option for decluttering.
2- Smaller Living Spaces
Urbanization of many towns across the U.S. is causing more homes and apartments to be built in a small area. More people need a place to live, so creating housing for all of them often leaves city officials and builders scrambling. The quantity of living spaces is increasing, but the size of these homes is decreasing, causing some people to downsize or put larger items in storage for a period of time.
Another issue for younger generations is the higher prices of homes and interest rates, making it hard to purchase a larger home in their preferred area. More families and couples are choosing to rent an apartment or small home with limited storage. As humans collect things over time, keeping all of them in a small rented space can become overwhelming. Putting clothing or electronics in self-storage is part of the reason self-storage is growing in popularity.
3- The Rise Of E-Commerce Businesses
After COVID-19, creative businesses and passive income are becoming popular ways for younger generations to support themselves, but getting a storefront or warehouse is a large undertaking. Running an e-commerce business often requires a large amount of inventory, which can be hard to store and organize inside a residential space. Small business owners are turning to self-storage units to help store inventory, shipping materials, and additional business materials rather than cluttering up their homes. Utilizing a climate-controlled storage unit with high security is often more appealing than running a business out of a home.
4- Improvements In Storage Facilities
Newer storage facilities are implementing more modern technology, security measures, and ways to make storage easier for users. These upgrades give renters peace of mind about the safety of their items and make it more enjoyable to visit a storage unit. Some improvements that are showing up in modern storage facilities include:
- Climate-controlled units
- Video surveillance
- Elevators
- Electronic locks
- Online renting and bill pay
- Larger ground units
- On-site moving supplies
Modern facilities are a large reason that self-storage is growing in popularity because they make it safer for all users to store their belongings.
5- Population Increases
As different people move across the country or within their state, the population of cities will ebb and flow. Population increase is one reason self-storage is growing in popularity, because that 1 in 5 statistic comes into play. The larger the population of a city, the more people who will be more likely to need a storage unit.
Storage units are also used during relocation and moving, which has also contributed to their rise in popularity. Even if a family or individual doesn’t use a storage unit in their old location, moving some items into storage before moving into a new home is more common.
6- Lower Costs For Building A Storage Facility
While storage facilities provide benefits for the user, the owner of the facility also benefits from the popularity. If you build or own a storage facility, the growing popularity means more money in your pocket. With modern construction methods and large demands for materials, building a self-storage facility is much cheaper than it used to be. This means that more people can open storage facilities and start earning money from them almost immediately. If you see more facilities popping up near you, this could be the reason, as more people need a way to make passive income.
7- Large Life Transitions
Going through job changes, moving, or life adjustments can be made easier when utilizing a storage unit. Moving is one of the most common reasons for storage, allowing you to move items early and limit clutter in your current home until moving day. People may require a secure space for furniture or large items when their home is not quite ready. Storage units can provide a haven for these items while you pack up smaller items or if they won’t fit in the new residence.
Another life transition is those who sell their home and travel for long periods of time or live in an RV. Putting furniture, decor, and sentimental items in a storage unit will make travel easier, especially in a small camper or RV with limited storage. As more people choose alternative ways of living, the use of self-storage with continue to grow in popularity.
Store With 700 Block Storage
Our storage facility is here to help those living or moving to Salt Lake City have peace of mind about their belongings or business inventory. 700 Block Storage has a state-of-the-art facility with multiple-sized units and climate-controlled options. No matter your reason for storage, we can help make the life transition easier.
