NAICS 531130 Quarterly Industry Report
Lessors of Miniwarehouses and Self-Storage Units
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 531130Sector: Real Estate and Rental and Leasing (53)Updated: Q1 2026
About This Report
This industry profile for Lessors of Miniwarehouses and Self-Storage Units (NAICS 531130) draws on data from the U.S. Census Bureau[6], Self Storage Association[5], and SBA size standards[7]. Published by Fair Market Value and updated quarterly, it provides storage facility operators, investors, and lenders with classification guidance, market sizing, and competitive context. Additional data is drawn from Bureau of Labor Statistics[8].. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the lessors of miniwarehouses and self-storage units industry.
NAICS Sector
53
Real Estate and Rental and Leasing
Industry Definition & Overview
Lessors of Miniwarehouses and Self-Storage Units (NAICS 531130) encompasses establishments primarily engaged in renting or leasing miniwarehouses and self-storage facilities. This sector provides secure, flexible space for residential customers, small businesses, and corporations to store personal belongings, commercial inventory, equipment, and valuables. Per industry research, the United States operates 52,301 facilities with more than 2.1 billion square feet of rentable space, generating about $44.3 billion in annual revenue (Self Storage Association[5]).
New facility openings accelerated from 439 annually between 2010 and 2019 to 735 per year from 2020 to 2023, driven by population growth, interstate migration, and evolving consumer storage needs. About 11.1% of U.S. households currently rent storage units, representing 14.6 million customers. The industry is moderately concentrated; the top operators (Public Storage, Extra Space Storage, CubeSmart, Life Storage, and National Storage Affiliates) control roughly 35% of rentable square footage, while independent operators manage the remaining 65%.
Geographically, the South dominates with 39% market share, while the West represents the fastest-growing region. Texas leads in facility count with 5,564 locations, followed by California with 3,728. The industry employs about 150,000 workers across the country and continues expanding through technology integration, climate-controlled unit additions, and specialized services for e-commerce businesses, relocating families, and small business operations. Average monthly rents vary by unit size and climate control features, ranging from $90 for a basic 5x5 unit to $290 or more for larger climate-controlled spaces.
What's Included in This Industry
- Self-storage unit rental operations with various unit sizes
- Miniwarehouse leasing to small businesses and consumers
- Climate-controlled and temperature-regulated storage facilities
- Outdoor vehicle, RV, and boat storage
- Drive-up accessible storage units
- Portable storage container operations
- Wine storage and specialty climate-controlled vaults
- Business document and records storage services
- Moving supplies and equipment rental ancillary services
- 24-hour access secure storage management
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Real Estate and Rental and Leasing | 53 |
| Subsector | Real Estate | 531 |
| Industry Group | Lessors of Real Estate | 5311 |
| NAICS Industry | Lessors of Miniwarehouses and Self-Storage Units | 53113 |
| National Industry | Lessors of Miniwarehouses and Self-Storage Units | 531130 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 531110 | Lessors of Residential Buildings and Dwellings | Lessors of Residential Buildings and Dwellings operate apartment complexes and rental homes, sharing property management practices but leasing living space rather than storage space |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | Lessors of Nonresidential Buildings lease office parks, retail centers, and industrial buildings, a broader commercial leasing segment that excludes self-storage operations |
| 531190 | Lessors of Other Real Estate Property | Lessors of Other Real Estate Property lease manufactured home sites, vacant land, and agricultural property, covering non-building real estate types outside 531130 |
| 531210 | Offices of Real Estate Agents and Brokers | Offices of Real Estate Agents and Brokers support property sales and leasing transactions, providing brokerage services for self-storage facility acquisitions and dispositions |
| 493110 | General Warehousing and Storage | General Warehousing and Storage provides larger-scale commercial warehousing for businesses, a distinct segment from the consumer-oriented self-storage model in 531130 |
| 236210 | Industrial Building Construction | Industrial Building Construction develops new storage facilities and converts existing structures, representing the capital-intensive supply side of self-storage expansion |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 12.5% | 2,283 |
| 2 | California | 12.2% | 2,235 |
| 3 | Florida | 8.6% | 1,573 |
| 4 | New York | 3.9% | 704 |
| 5 | Georgia | 3.8% | 694 |
| 6 | North Carolina | 3.6% | 659 |
| 7 | Washington | 3.0% | 551 |
| 8 | Illinois | 3.0% | 541 |
| 9 | Arizona | 2.9% | 534 |
| 10 | Virginia | 2.8% | 516 |
% Of Establishments
0%
12%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
952
Total SBA Loans
$1.3B
Total Loan Volume
$1.4M
Average Loan Size
22 yrs
Average Loan Term
8.65%
Average Interest Rate
2,984
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard for NAICS 531130 is $34.0 million in average annual gross receipts (SBA Size Standards[7]). An alternative standard of $47.0 million applies to leasing of building space to the Federal Government by owners. Nearly 65% of all U.S. self-storage facilities are owned by small operators outside the top 100 companies. SBA 7(a) and 504 loan programs provide financing options for facility construction, acquisition, and expansion for qualifying operators.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Live Oak Banking Company | 432 | $717.8M | $1.7M |
| 2 | Bank Five Nine | 176 | $170.5M | $968K |
| 3 | Enterprise Bank & Trust | 16 | $51.8M | $3.2M |
| 4 | US Metro Bank | 8 | $39.7M | $5.0M |
| 5 | Port 51 Lending LLC | 32 | $33.5M | $1.0M |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 531130?
NAICS 531130 includes establishments that rent or lease miniwarehouses and self-storage units to consumers and businesses. Operators range from independent single-facility owners to large publicly traded REITs like Public Storage and Extra Space Storage. Per the Census Bureau[6], the classification covers all self-storage rental operations regardless of unit type, size, or climate control features.
How is the self-storage industry structured?
The top five operators (Public Storage, Extra Space Storage, CubeSmart, Life Storage, and National Storage Affiliates) control roughly 35% of rentable square footage, while independent operators manage the remaining 65%. Per industry data, 52,301 facilities operate across the country with more than 2.1 billion square feet of rentable space (Self Storage Association[5]). The industry generated about $44.3 billion in annual revenue.
What is the SBA size standard for NAICS 531130?
The SBA size standard is $34.0 million in average annual gross receipts, with an alternative of $47.0 million for lessors of building space to the Federal Government (SBA Size Standards[7]). Most independent storage operators fall well below this threshold and qualify for SBA loan programs and small business contracting preferences.
What NAICS codes are related to self-storage lessors?
Closely related codes include 531110 (Residential Building Lessors), 531120 (Nonresidential Building Lessors), 531190 (Other Real Estate Lessors), 493110 (General Warehousing and Storage), and 531210 (Real Estate Agents and Brokers). Each represents a different segment of the property rental and storage services ecosystem.
Which industries work most closely with self-storage operators?
Moving and trucking companies (484110) complement storage services. Commercial banks (522110) provide development financing. Property insurers (524126) provide facility and tenant coverage. Architects (541310) design facilities. Facilities support services (561210) handle maintenance. General warehousing (493110) provides commercial-scale alternatives for business customers.
What activities are included in NAICS 531130?
Activities include operating indoor and outdoor storage units, leasing climate-controlled spaces, providing vehicle and boat storage, renting portable storage containers, selling moving supplies, maintaining 24-hour access systems, and operating security monitoring equipment. Some facilities also offer business document storage and wine storage services.
Can you get an SBA loan for this type of business?
SBA loans are available for qualifying self-storage operators meeting the $34.0 million size standard. SBA 7(a) and 504 loan programs[9] can fund facility construction, acquisition, expansion, and working capital. The 504 program is particularly relevant for real estate purchases, offering long-term fixed-rate financing.
Which states have the highest concentration of self-storage facilities?
Texas leads with 5,564 self-storage facilities, followed by California with 3,728, Florida, Georgia, and Illinois. Texas and Florida benefit from strong interstate migration, with over 396,000 new residents annually driving storage demand. The South holds 39% of total U.S. market share, while the West is the fastest-growing region for new facility development.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Self Storage Association selfstorage.org
- [6]U.S. Census Bureau census.gov
- [7]SBA size standards sba.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]SBA 7(a) and 504 loan programs sba.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.