Self Storage National Report – March 2026
The national under-construction pipeline remained unchanged month-over-month, accounting for 2.4 percent of existing inventory, according to Yardi Matrix data.
The self storage sector has seen uneven performance across markets, according to Yardi Matrix data. While Sun Belt metros such as Atlanta and Southwest Florida continue to struggle due to oversupply, Midwestern markets with limited new supply such as Minneapolis and Chicago, have posted stable values.
February 2026 saw the overall advertised street rate fall 1.1 percent year-over-year, with an annualized average rent per square foot of $16.10 for the combined mix of unit sizes and types, according to the latest Yardi Matrix national self storage report. On an annual basis, one of the top 30 metros—namely Boston—registered positive movement in same-store advertised rates for non-climate-controlled units. At the same time, four of the top metros saw improvement in advertised street rates in climate-controlled units, compared to February 2025.
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. Out of the top 30 metros tracked by Yardi Matrix, 24 saw negative movement in advertised asking rent growth. Four metros had flat values since January 2026 and only two recorded an increase month-over-month, namely Los Angeles and Salt Lake City, with a 0.2 and 0.1 percent change compared to January figures.
National supply remains unchanged since January
Nationwide, there were 2,694 self storage properties in all stages of development as of February, accounting for 2.4 percent of existing inventory, unmoved month-over-month. The pipeline included 655 properties under construction, 1,733 planned and 306 prospective projects. During the same month, there were approximately 48.4 million net rentable square feet under construction across the U.S.
Out of the top 30 metros, 17 had under-construction pipelines below the national average, with Portland, Ore. and Denver, Colo. closing the list at 0.7 and 0.6 percent, respectively, both flatlining month-over-month.
On that same list, three metros registered an increase in under-construction supply compared to January, namely Phoenix, Austin, Texas and Houston. Each of the three saw a 30-basis-point uptick on a monthly basis, but only Phoenix and Austin’s figures surpassed the national value, with supplies of 6.6 and 3.2 percent of existing stock.
Meanwhile, 20 of the metros had their pipelines standing still from January through February, among which Sarasota-Cape Coral, which continues to rank at the top of the list, with an under-construction supply accounting for 7.9 percent of existing stock.
Download the latest Yardi Matrix self storage report.
