In fact, according to recent statistics, around 11.2% of American households have a storage unit means that for every 10 houses, you're likely to see atleast one that’s renting a storage unit.So what does this mean for the self-storage industry?

Originally posted by @Max Householder: Congrats Nathan, welcome to South City!

Once maintenance and repairs start being deferred in the name of "holding the budget", you are headed toward an eventual major "Special Assessment".We all know that Board Members are rarely "qualified" in the sense that they have no practical experience in dealing with large budgets, or facilities maintenance, or any type of "management" beyond their household.

The report compared the number of households formed in the decade from 2012 to 2022 against the number of homes built in that same period of time.15.6 million new households were formed over that decade, while only 9.03 million single family homes were constructed over that same time.

If and when there is another down turn too many households are paycheck to paycheck.

I downloaded almost all of the Census Bureau's American Community Survey data from its first year of publication, 2005, to its most recent, 2017, and built a linear regression model to see what metrics actually correlate to rising rents.I found the following metrics, in the following order, correlate best to rising rents:Limited supply (as measured by a growing persons-per-unit ratio)Median household income growthJob growthPopulation growthMy analysis suggests that your criteria are in reverse order from what they should be -- that growing incomes and job growth are more important than population growth.

@Julie Halloran I have not heard about December 1 changes to the state or federal laws.As an MFR owner, you have the legal obligation to REMEDIATE (not just disclose) if there is going to be a child 6 years old or younger living in one of your units.In MA, you cannot refuse to rent to tenants because they have such a child in their household.  

.- (Median Contract Rent x12) / (Median House Value) must exceed 0.06- Unemployment must be under 6%- Median house value must be under 200k- Median household income and median resident age are used as additional data pointsCity-data.com is a great resource for you to get info on particular neighborhoods and sections of any city in the US. 

Size of household matters. 

-DetroitNews.com 2019•“Demand is steady in Detroit, bolstered by household formation and job gains.