Strong rate growth last year reflected in ongoing year-over-year decline
SANTA BARBARA, Calif., July 29, 2026 – Seasonal factors contributed to a month-over-month increase in the U.S. average advertised rate for self storage facilities in June 2026 even as year-over-year growth continued to lag, new Yardi® Matrix research reveals.
Advertised rates rose 0.7% month over month, reflecting a pricing push in the busy summer leasing season, but declined 1.7% year over year, continuing a trend that includes declines of 1.6% in May and 1.9% in April.
Only 11 of the top 30 Yardi Matrix metros posted stronger year-over-year rate growth in June than in May. The year-over-year recovery “has been limited by stronger seasonal rent growth during the same period last year and sharper rate declines in the second half of the year,” a new Yardi Matrix national report says.
Lower-supply metros, notably Chicago, Minneapolis and Indianapolis, continue to outperform in advertised rate growth, while elevated new supply keeps growth modest in Florida and other Sun Belt markets.
A key industry development in June was the finalization of the $10.5 billion merger between Public Storage (PSA) and National Storage Affiliates, marking the second-largest self-storage transaction in history and giving PSA 14% of the total square footage tracked by Yardi Matrix. The deal heralds “a period of rapid consolidation across the sector” and a decline in the prominence of mom-and-pop owners, whose market share, 48% in 2014, stands at 31% this year, the report notes.
Get more insight into self storage supply and rent trends in the Yardi Matrix Self Storage National Report for July 2026, which draws from 2,482 self storage properties in various stages of development. Yardi Matrix also maintains operational profiles for 33,122 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 in built-to-rent communities, 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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