Yardi Matrix: U.S. self storage stabilizing amid economic uncertainty

New report shows industry sentiment improving as national occupancy rates hold steady

SANTA BARBARA, CALIF., July 16, 2025 – Factors impacting much of the U.S. economy are evident in the self storage industry, which produced modest rent growth in June 2025 according to data compiled and analyzed by Yardi® Matrix.

National self storage rates fell 0.1% year-over-year that month. Meanwhile, high interest rates and wide bid-ask spreads have muted transaction volume. “Recovery has been uneven due to ongoing economic uncertainty and a still-fragile housing market,” a new Yardi Matrix national report says.

But even as a negative change, the June rent growth figure does signal stabilization in the sector following earlier declines. Steadying national occupancy levels have encouraged real estate investment trusts to resume rent increases. “This renewed pricing confidence is likely to influence other private operators, which tend to lag REIT pricing trends,” the report says. “Industry sentiment is improving, with rents stabilizing and development activity beginning to ease.”

Gain more insights into the sector, including examinations of metros such as Chicago, Minneapolis and San Antonio, in the Yardi Matrix National Self Storage Report for July 2025, which is based on 3,083 self storage properties in various stages of development.

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.

About Yardi 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.