Self Storage Market Outlook – July 2026

Key takeaways

• The national average annualized advertised asking rate per square foot rose 0.7 percent through June to $16.48 for the combined mix of units and sizes.
• On a yearly basis, rates for both non-climate and climate-controlled units registered negative values across 26 of the Top 30 metros.
• The national under-construction pipeline remained unmoved for a second month in a row, at 45.3 million square feet, or 2.2 percent of total stock.
• Phoenix and Sarasota-Cape Coral continue to occupy the top two spots in terms of under-construction supply.

Rates register monthly uptick, annual decline

June saw the national average annualized asking rate per square foot rise 70 basis points month-over-month to $16.48 for the combined mix of units and sizes.

Out of the Top 30 metros tracked by Yardi Matrix, 29 saw positive growth in terms of advertised asking rates from through June. Sarasota-Cape Coral ranked last and was the only metro on the list to register no movement from the previous month.

On a yearly basis, rates for non-climate-controlled units contracted 1.6 percent across 26 out of the Top 30 metros. Rates for climate-controlled units saw a 1.8 percent drop in 26 of the Top 30 metros as well.

National pipeline standstill continues, Sun Belt cools down

June saw 2,482 self storage properties in all stages of development across the U.S., with 608 properties under construction, or 2.2 percent of total stock—unmoved for a second month in a row—1,579 planned and 295 prospective projects.

During the same month, there were a total of 45.3 million net rentable square feet under construction, down 0.4 percent compared to June 2026. Out of Yardi’s Top 30 metros, five saw positive movement month-over-month in terms of development, namely San Antonio, Texas, Nashville, Tenn., Los Angeles, Las Vegas and Detroit. 14 metros on the same list had negative growth and 11 flatlined.

Though its metrics showed no movement compared to May, Phoenix ranked at the top of the list for under-construction supply from existing stock, clocking in at 6.9 percent. Second on that same list was Sarasota-Cape Coral, with a 30-basis-point drop from May, to 5.4 percent as of June.

Read the full Yardi Matrix National Self Storage Market Outlook: July 2026.