In this article, we explore rate changes over the past two years, in the Southeastern region of the country. Specifically, we look at the “walk-in”, or regular (rates before incentives or other promotions) for 10×10 climate controlled units. We’ve calculated the average monthly rate across the region and compared this to the average monthly rate for 10×10 CC units in each of the 12 states that comprise the region.
At a glance, rates in the Southeastern U.S. tend to increase during the spring and summer months (March through August) with a steady decrease starting in the fall and winter months. Overall, average rates in the region over the last two years have trended upwards. What does this mean? Increased demand and low supply means higher pricing volatility (frequent changes in pricing) and the opportunity for owners and operators to raise rates on available inventory.
Below is a breakdown of the 12 states in the region. Here you will see how the states’ monthly average rate compares to the overall monthly average rate for the region’s 10×10 CC units. Average monthly rates in Alabama, Arkansas, Kentucky, Mississippi, North Carolina, and West Virginia over the last two years have consistently been below the average for the region. Notably, rates in Mississippi and West Virginia have seen the largest increase in rates for 10×10 CCs over time. Florida, Georgia, South Carolina, and Virginia have the highest rates in the region, consistently above the average for the region. Tennessee has seen the most change in rates over the last two years with rates steadily increasing in 2018 to well above the average for the region.
Average Monthly Regular Rate – 10×10 Climate Control
StorTrack can provide similar insights and more in-depth analysis, including current rates by unit type or location, for any market or MSA within the region. Visit www.StorTrack.com for more information.