{"id":53285,"date":"2026-03-23T06:00:00","date_gmt":"2026-03-23T13:00:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=53285"},"modified":"2026-04-15T06:16:30","modified_gmt":"2026-04-15T13:16:30","slug":"self-storage-sector-outlook-spring-2026","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/self-storage-sector-outlook-spring-2026\/","title":{"rendered":"Yardi Matrix outlook: self storage spring update"},"content":{"rendered":"\n
\"Self<\/figure>\n\n\n\n

Yardi<\/a> Matrix leaders Tyson Huebner, director of research, and Jeff Adler, vice president, provided insight with a U.S. self storage spring update. Check out the full webinar<\/a> when you’re ready. In the meantime, here are some highlights.<\/p>\n\n\n\n

Self storage connected to housing<\/h2>\n\n\n\n

Demand for self storage facilities is closely tied to the housing market, which is currently facing significant affordability and supply challenges.<\/p>\n\n\n\n

The housing market\u2019s weakness in 2025 contributed to the decline in self storage occupancy and advertised rent growth. Demand figures to remain weak in 2026.<\/p>\n\n\n\n

Supply absorption challenges linger<\/h2>\n\n\n\n

Many markets remain oversupplied, with several of them struggling to absorb new supply. Most markets have less supply under construction versus a year ago, although a few, notably the Florida metros of Miami and Tampa, have additional units under construction and will continue to underperform.<\/p>\n\n\n\n

On a positive note, the decrease in new supply seen in 2025 will continue through 2027 and provide some support for revenue growth.<\/p>\n\n\n\n

Slowing population growth hits demand<\/h2>\n\n\n\n

Self storage is a\u00a0demographically driven property type. Data from the U.S. Census Bureau shows that population growth dropped to its lowest level since COVID, primarily driven by decreases in international migration and the domestic birth rate reaching its lowest level on record.<\/p>\n\n\n\n

That means little support for self-storage demand will arise from population growth or from state-to-state migration, an historically strong driver for self storage demand that is at the lowest level since 2013. The drop in demand has produced significantly lower rents for new self storage properties.<\/p>\n\n\n\n

Asking rent projection remains cautious<\/h2>\n\n\n\n

The last few years have been characterized by asking rents that are flat or declining. Rates now sit only 3-4% above pre-COVID levels. As of January 2026, however, some Yardi Matrix top 30 markets showed some improvement.<\/p>\n\n\n\n

Atlanta, for example, went from being one of the worst performing markets at the beginning of 2025 to showing slight growth. Austin, Texas, saw a significant month over month rate increase in January, another sign that supply is starting to be absorbed in some markets and that demand might be picking up.<\/p>\n\n\n\n

Yardi Matrix\u2019s guidance for 2026 remains cautious, with revenue growth expected to range from flat to slightly negative and asking rates projected to re-accelerate going into the busier summer months.<\/p>\n\n\n\n

Transactions represent a bright spot<\/h2>\n\n\n\n

Self storage remains a very attractive asset class for investors, offering opportunities for portfolio diversification. Sales in 2025 represented a significant improvement over 2024 and 2023 totals and stood above the long-term average. The transaction market will continue to improve in 2026.<\/p>\n\n\n\n

Fundamental strength<\/h2>\n\n\n\n

While expenses remain a headwind, expense growth is cooling, led by property taxes, the largest expense line item for self storage operators.<\/p>\n\n\n\n

\u201cThe sector has struggled the past few years, but it has a lot going for it. We should see asking rate growth continue to improve over the next year,\u201d Huebner said.<\/p>\n\n\n\n

View the webinar in its entirety<\/a>.<\/p>\n\n\n\n

<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

Yardi Matrix leaders recently hosted a webinar to provide updates on supply, demand, asking rates, transactions and other factors impacting the U.S. self storage market.<\/p>\n","protected":false},"author":610,"featured_media":53291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791,4,3240],"tags":[],"class_list":["post-53285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","category-news","category-self-storage"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Yardi Matrix leaders Tyson Huebner and Jeff Adler updated webinar attendees on key factors influencing the U.S. self storage market in 2026.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/self-storage-sector-outlook-spring-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix outlook: self storage spring update\" \/>\n<meta property=\"og:description\" content=\"What\u2019s new in self storage? 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