U.S. self storage advertised rates fall again, Yardi Matrix reports

Soft demand, ongoing development drive annual growth decline across top metros

SANTA BARBARA, Calif., April 22, 2026 – Subdued advertised rate growth in U.S. self storage reflects ongoing demand softness across markets and unit types, according to new data from Yardi® Matrix.

National advertised rates decreased 2% in March 2026, more than the 1.2% and 0.4% declines in February and January, respectively. Almost all of the Yardi Matrix top 30 metros had lower year-over-year rate growth in March compared to February, and all top metros experienced negative annual growth. Moreover, the decline in advertised rates spans non-climate-controlled and climate-controlled units.

“Few near-term catalysts for a meaningful turnaround in demand are evident, as a historically weak housing market and ongoing development continue to pressure rental rates,” especially in Sun Belt markets that are struggling to absorb excess supply, according to a new national report from Yardi Matrix.

On the positive side, the market has hosted a high level of investment activity in recent months, including Public Storage’s $10.7 billion acquisition of National Storage Affiliates.

Get more insight into U.S. street rate growth trends, new supply and more in the Yardi Matrix Self Storage National Report for April 2026, which draws from 2,619 self storage properties in various stages of development. Yardi Matrix also maintains operational profiles for 32,803 completed U.S. self storage facilities.

Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, single-family rentals/ build to rent, affordable housing, student housing, self storage, office, industrial, retail and vacant land property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.

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Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With more than 10,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.