Self Storage National Report – September 2025
The latest updates from Yardi Matrix on rates and the development pipeline in the top U.S. metros.
The overall advertised street rate rose 0.3 percent year-over-year, with annualized average rent per square foot of $16.91, the latest Yardi Matrix national self storage report shows. Annually, 16 of the top 30 metros showed an increase in advertised rates for non-climate-controlled units, while 20 of the top metros saw improvement in advertised street rates in climate-controlled units, compared to August 2024.
On a monthly basis, average advertised street rates per square foot for the 10×10 non-climate and climate-controlled units combined dropped by 0.2 percent. Out of the top 30 metros tracked by Yardi Matrix, 20 registered negative movement in advertised asking rent growth. Raleigh-Durham, Austin, Washington D.C., San Diego, Miami, Boston, Orlando, Charlotte and Atlanta registered an increase, while Philadelphia remained flat.
Pipeline contracts nationally
As of August, there were 3,004 self storage properties in all stages of development nationwide. The pipeline included 716 under construction, 1,906 planned and 382 prospective properties. Properties under construction made up 2.7 percent of total stock, reflecting a 10-basis-point decrease from the previous month.
August saw 53.6 million net rentable square feet under construction across the U.S., which accounted for 2.7 percent of existing inventory, down 0.1 percent month-over-month. Less than half of the top 30 metros had under-construction pipelines below the national average, particularly in the Mid-Atlantic and southeastern regions. San Jose and San Francisco registered the least amount of stock, at 0.5 percent, respectively 0.3 percent.
Of the top 30 metros tracked by Yardi Matrix, only four registered an increase in under-construction supply month-over-month, namely Tampa (70-basis-point increase), New York (20 bps), Washington D.C. (30 bps) and Minneapolis (90 bps). Phoenix remains the metro with the highest level of construction activity, with an under-construction supply accounting for 6.1 percent of the existing stock as of August, unchanged month-over-month. Trailing behind are Las Vegas (5.7 percent), Charleston, S.C. and Orlando (both at 5.4 percent).
Download the latest Yardi Matrix self storage report.
