Self Storage National Report – April 2026
As of March, all top 30 metros saw negative movement in same-store advertised rents.
With a slow start of the year and weak housing market conditions, the self storage sector has registered pressure on rental rates, especially across oversupplied Sun Belt markets, according to the SSA Spring Conference and ISS World Expo in Las Vegas. The U.S. self storage sector continues to see positive movement in investment activity, which signals a rebound in demand on a short-term basis.
In March 2026, the overall advertised street rate declined 2.0 percent year-over-year, with an annualized average rent per square foot of $16.07 for the combined mix of unit sizes and types, according to the latest Yardi Matrix national self storage report. On an annual basis, all top 30 metros registered a decrease in same-store advertised rents for both non-climate-controlled and climate-controlled units, compared to March 2025.
On a monthly basis, average advertised street rates per square foot for the 10×10 non-climate and climate-controlled units combined rose 0.1 percent. Out of the top 30 metros tracked by Yardi Matrix, 13 saw positive values in advertised asking rent growth, three metros’ values remained unmoved month-over-month and 14 registered negative movement. Orlando, Fla., and Tampa, Fla., ranked last, at $15.23 and $15.66, respectively, down 40 and 70 basis points.
National pipeline stands still throughout first quarter
March saw a total of 2,619 self storage properties in all stages of development across the U.S., accounting for 2.3 percent of existing inventory, unchanged since the start of the year. The pipeline included 622 properties under construction, 1,704 planned and 293 prospective projects. During the same month, there were roughly 46.5 million net rentable square feet under construction nationwide.
Out of the top 30 metros, 16 had under-construction pipelines below the national average of 2.3 percent, with Portland, Ore., and Denver, Colo., closing the list for a second month in a row, both at 0.6 percent—flatlining month-over-month.
On that same list, three metros recorded an increase in under-construction supply compared to the previous month, namely Sarasota-Cape Coral, Miami and Nashville, Tenn. Sarasota-Cape Coral ranked at the top of the list, with 8.0 percent of under-construction supply from existing inventory, up 10 basis points month-over-month. Miami and Nashville stood among the top 10 markets, with upticks of 10 and 50 basis points, respectively, compared to February.
Meanwhile, 14 of the metros on the list had their pipelines standing still from February through March, mainly in coastal and Sun Belt areas. These markets include Los Angeles, the San Francisco Bay Area, the Inland Empire, Las Vegas and Houston.
Download the latest Yardi Matrix self storage report.
