Financial research concept

Self-Storage Same-Store Rent per Occupied Square Foot

Self-storage same-store rent per occupied square foot measures rental revenue intensity across occupied space, helping investors separate pricing from occupancy.

By Lee BaileyPublished Sep 20, 2026
Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date
Sep 20, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
12 connected conceptsPart of the reviewed Self-Storage Operating Model; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. The metric separates rent from space utilization
  2. It differs from move-in and move-out rent
  3. Definitions can vary
  4. Primary-source examples
  5. Part of the Self-Storage Operating Model
  6. See It in Company Research
  7. Continue Research

Self-storage same-store rent per occupied square foot measures rental revenue or contract rent relative to occupied rentable square footage within an issuer's same-store pool.

It is a pricing-intensity measure, not an occupancy measure.

The metric separates rent from space utilization

A storage operator can grow revenue by charging more per occupied square foot, filling more space, or both.

Public Storage reported same-store rent per occupied square foot of $22.54 for 2025 in materials describing its portfolio before the National Storage Affiliates acquisition.

That figure helps investors read pricing alongside Self-Storage Same-Store Occupancy rather than treating revenue growth as one undifferentiated signal.

It differs from move-in and move-out rent

Self-Storage Move-In Contract Rent describes the price on newly acquired customers.

Self-Storage Move-Out Contract Rent describes the in-place rent of customers leaving.

Rent per occupied square foot reflects the broader occupied same-store base under the company's definition.

Definitions can vary

Issuers can differ in whether they use average or period-end occupied square footage, contract rent or realized rental revenue, and which facilities qualify for the same-store pool.

Preserve those definitions before comparing operators.

Primary-source examples

Self-storage same-store rent per occupied square foot is most useful as a portfolio pricing-intensity measure. Read it with occupancy, move-in rent, move-out rent, churn, and same-store NOI.

Part of the Self-Storage Operating Model

Connect move-in and move-out pricing, churn, occupancy, same-store NOI growth and margin, rent per occupied square foot, tenant reinsurance, acquisitions, development pipeline, and third-party management scale to understand self-storage economics and portfolio growth.

How the model fits together
  • Customer acquisition, retention, and occupancy: Move-in contract rent shows the price offered to new customers, while move-out contract rent shows the rate paid by departing customers after in-place increases. Same-store churn captures customer turnover, and same-store occupancy shows how those flows translate into stabilized space utilization.
  • Property and ancillary economics: Same-store NOI growth captures stabilized property-level revenue and expense performance, while tenant reinsurance adds a separate ancillary revenue and profit stream tied to insured tenants. Neither measure should be treated as a substitute for occupancy or customer pricing.
  • Portfolio scale, margin, and external growth: Same-store rent per occupied square foot and same-store NOI margin add current monetization and property-margin context. Acquired net rentable square feet and development-and-expansion pipeline square feet show owned portfolio growth, while third-party managed store count and rentable square feet show fee-based platform reach beyond the consolidated portfolio. These issuer-defined measures add portfolio-scale and growth context rather than forming a standardized cross-company formula.

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

Continue Research

Continue from the concept into the Grizzly Bulls research surface that best matches the next question. These links are research continuations, not recommendations or required steps.

Compare stocks

Compare self-storage operators

Continue into stock comparison for pricing, occupancy, margins, acquisitions, development, third-party management, capital allocation, and valuation context.

Continue research

Explore more topics in the Financial Research Encyclopedia.