News Press Releases

Ongoing Demand Prompts Continuing Strong Performance for Self Storage, Yardi Matrix Reports

Yardi Matrix National Report Self Storage Report April 2021

Street rates are up both month-over-month and year-over-year in April

SANTA BARBARA, Calif., May 19, 2021 – As Americans continue to determine where and how they’ll live and work in the aftermath of the pandemic, the self storage industry is in continued demand.

National street rate performance in April recorded major improvements compared to April 2020. National average street rates for 10×10 non-climate-controlled (NON CC) units increased 8.0% year-over-year, with the average for 10×10 climate-controlled (CC) units up 9.5%. Street rates also saw strong positive growth month-over-month, rising 1.7% for 10×10 NON CC units and 2.2% for 10×10 CC units.

Regionally, rates for 10×10 CC units increased the most year-over-year in San Jose (17.7%), Charleston (16.8%) and the Inland Empire (14.8%). The markets that had the least growth compared to April 2020 for 10×10 CC units—including Nashville (4.0%), Pittsburgh (4.5%) and Columbus (4.7%)—still had healthy rate growth.

“Self storage continued to benefit from ongoing demand tailwinds in April. Street rates had another strong month and continue to rise nationwide, while there has not been a meaningful shift in development activity,” states the report. Development volume will be one of the major factors for maintaining strong sector fundamentals moving forward.

Yardi Matrix tracks a total of 2,219 U.S. self storage properties in various stages of development—including 582 under construction, 1,206 planned and 431 prospective properties. From March to April, the national new-supply pipeline as a percent of existing stock increased by 0.1%. The share of projects in planning or under construction stages was equal to 8.3% of existing inventory in April. Matrix also maintains profiles for 26,673 operating self storage facilities, bringing the total data set to 28,892.

Gain more insight into the self storage market.

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, student housing, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit to learn more.

About Yardi

Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit

About the author

Jeff Adler

Jeffrey Adler is Vice President, of Yardi® Matrix, the data division of Yardi Systems.

Yardi® Matrix is a US multifamily, student, office, medical office/lab space, industrial, and self-storage asset information toolset for originating, underwriting, and asset managing commercial real estate investments, with over 800 clients worldwide. Yardi® Matrix provides investment strategy, market and institutional research reports leveraging the underlying property level detail of 135 markets, >92,000 multifamily properties and >18 MM units. Mr. Adler also leads Commercial Property Executive and Multi-Housing News, two digital media websites.

Add Comment

Click here to post a comment