Self Storage National Report – July 2026
As of June, 29 of the top 30 metros tracked by Yardi Matrix saw positive movement in advertised asking rent growth compared to May 2026.
Though advertised asking rates registered noticeable growth during the spring and summer leasing season, metrics point to a slight decline year-over-year, according to Yardi Matrix information. Meanwhile, REIT asking rents are underperforming private operators for five consecutive months, despite boasting stronger monthly fundamentals as seasonal leasing activity took off.
Year-over-year, 26 of the top 30 U.S. metros tracked by Yardi Matrix registered a decrease in same-store advertised rents for non-climate-controlled units, as of June. The same number of metros across the same list saw negative movement in advertised street rates for climate-controlled units, compared to June 2025, according to the latest Yardi Matrix national self storage report.
Month-over-month, average advertised street rates per square foot for the 10×10 non-climate and climate-controlled units combined rose 0.7 percent to $16.48. Out of the top 30 metros, 29 saw positive movement in advertised asking rent growth. Sarasota-Cape Coral was the the only metro with unchanged valued compared to May 2026 and the one metro to close the list.
National pipeline standstill continues, Sun Belt cools down
As of June, there were a total of 2,482 self storage properties in all stages of development across the U.S. The pipeline consisted of 608 properties under construction, 1,579 planned and 295 prospective projects. The under-construction pipeline accounted for 2.2 percent of the total existing stock though June, unmoved month-over-month, but down 0.4 percent year-over-year. During the same month, there were approximately 45.3 million net rentable square feet under construction nationwide.
Of the top 30 metros, 14 had under-construction pipelines below the national average, with the San Francisco Bay Area and Portland, Ore. closing the list for fifth month in a row, at 0.8 and 0.6 percent, respectively, both unmoved from May’s values.
On that same list, only five metros recorded an increase in under-construction supply compared to the previous month, namely San Antonio, Texas, Nashville, Tenn., Los Angeles, Las Vegas and Detroit. Phoenix and Sarasota-Cape Coral continue to rank at the top, with under-construction pipelines clocking in at 6.9 and 5.4 percent, respectively, from their existing inventories. Phoenix’s metrics stood still month-over-month, while Sarasota-Cape Coral’s dropped 30 basis points compared to the previous month.
Alongside Phoenix, 10 other metros on that same list registered no movement across their pipelines from May through June, particularly across the Sun Belt, among with Austin, San Diego, Calif. and the Inland Empire.
