Self Storage National Report – January 2026
The U.S. self storage market had a cautious start of the year, with rents, occupancy and revenues under pressure and asking rents contracting significantly, according to Yardi Matrix.
As of December 2025, the overall advertised street rate rose 0.3 percent year-over-year, with an annualized average rent per square foot of $16.32 for the combined mix of unit sizes and types, the latest Yardi Matrix national self storage report shows. Annually, half of the top 30 metros saw increases in same-store advertised rates for non-climate-controlled units. Meanwhile, 23 of the top metros saw an improvement in advertised street rates in climate-controlled units, compared to December 2024.
Month-over-month, average advertised street rates per square foot for the 10×10 non-climate and climate-controlled units combined declined 0.3 percent. Similarly, 25 metros in the top 30 tracked by Yardi Matrix saw negative movement in advertised asking rent growth. Two metros registered unchanged values since November 2025 and only three saw improvement, namely New York City, Los Angeles and Orlando, Fla.
National pipeline holds steady, momentum fluctuates across metros
As of December, there were 2,846 self storage properties in all stages of development across the U.S. The pipelines comprised 730 under construction, 1,796 planned and 320 prospective properties. The under-construction properties accounted for 2.7 percent of the total stock, unchanged from November.
During the same month, there were roughly 54.3 million net rentable square feet under construction nationwide, accounting for 2.7 percent of existing inventory, unmoved month-over-month. Of the top 30 metros, half had under-construction pipelines below the national average, with San Francisco and Portland, Ore. closing the list at 1.0 and 0.6 percent, respectively, both unchanged month-over-month.
Of the top 30 metros tracked by Yardi Matrix, only five saw an increase in under-construction supply compared to November 2025. Sarasota-Cape Coral ranked first in the U.S., with a supply accounting for 8.7 percent of the total stock, up 10 basis points month-over-month. Second on that list was Phoenix, standing still at 6.6 percent from November through December. However, Tampa (6.3 percent) and Orlando, Fla. (5.7 percent) were next in line, marking 10- and 30-basis-point increases, respectively, month-over-month.
Download the latest Yardi Matrix self storage report.
