Self Storage National Report – October 2025
The latest Yardi Matrix self storage report presents an updated Top 30 Markets list.
This month’s self storage report introduces a revised Top 30 Markets list, with Detroit, Indianapolis, Salt Lake City and Sarasota-Cape Coral now part of the ranking, while smaller markets, such as Charleston, Columbus, Sacramento, and Raleigh–Durham will transition to secondary market coverage.
September saw the overall advertised street rate rose 0.9 percent year-over-year, with an annualized average rent per square foot of $16.80 for the combined mix of unit sizes and types, the latest Yardi Matrix national self storage report shows. Annually, 19 of the top 30 metros showed an increase in same-store advertised rates for non-climate-controlled units, while 24 of the top metros saw improvement in advertised street rates in climate-controlled units, compared to September 2024.
Month-over-month, average advertised street rates per square foot for the 10×10 non-climate and climate-controlled units combined declined by 0.7 percent. Out of the top 30 metros tracked by Yardi Matrix, 23 reported declines in advertised asking rent growth. Las Vegas, Phoenix, Tampa, Minneapolis, Detroit, the Inland Empire and Salt Lake City, however, registered positive rent movement.
National pipeline holds, growth is uneven
As of September, there were 2,969 self storage properties in all stages of development nationwide. The pipeline comprised 702 under construction, 1,909 planned and 358 prospective properties. Properties under construction made up 2.6 percent of total stock, marking a 10-basis-point increase from August.
Additionally, last month saw 52.5 million net rentable square feet under construction across the U.S., which accounted for 2.6 percent of existing inventory, contracting 0.1 percent month-over-month. Half of the top 30 metros had under-construction pipelines below the national average, particularly in the Sun Belt and Midwestern regions. Portland and San Francisco registered the least amount of stock, both at 0.6 percent and flat compared to August.
Of the top 30 metros tracked by Yardi Matrix, only four registered an increase in under-construction supply month-over-month. At the top of the list was Sarasota-Cape Coral, with the highest level of construction activity, which clocked in at 9.3 percent of existing inventory in September, reflecting a 40-basis-point increase compared to the previous month. Trailing behind Sarasota-Cape Coral were Tampa (30-basis-point increase), Nashville (60bps) and Atlanta (30 bps).
Download the latest Yardi Matrix self storage report.
