Guidance for 2026 projects flat to slightly negative rent growth
SANTA BARBARA, Calif., March 18, 2026 – Rate growth in the U.S. self storage market decreased by 1.1% in February 2026, continuing a trend for the year that began with January’s 0.4% decline, according to new research from Yardi® Matrix.
The stalled asking rate growth stems from the slowdown in new demand in the second half of 2025. Performance remains uneven across markets, as oversupplied Sun Belt markets such as Atlanta and Southwest Florida continue to face pressure. Meanwhile, markets with limited new supply, such as Minneapolis and Chicago, have been comparatively stable. All told, 26 of the Yardi Matrix top 30 metros posted rate declines in February.
Shifts in rate growth for both climate-controlled and non-climate-controlled units over the past three months could be impacted by seasonality and comparison to the more favorable month-over-month period the previous year.
With an uncertain demand outlook, “REIT guidance for 2026 remains cautious,” Yardi Matrix reports, “with most operators expecting revenue growth to remain flat to slightly negative.” Markets where recent deliveries have increased year-over-year, such as Austin, Texas, could encounter additional headwinds if absorption does not accelerate.
Get more insight into U.S. street rate growth trends, supply deliveries and more in the Yardi Matrix Self Storage National Report for March 2026, which draws from 2,694 properties in various stages of development. Yardi Matrix also maintains operational profiles for 32,640 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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