{"id":2424,"date":"2021-11-22T10:35:35","date_gmt":"2021-11-22T10:35:35","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2424"},"modified":"2024-02-06T10:56:40","modified_gmt":"2024-02-06T10:56:40","slug":"self-storage-sector-street-rates-begin-to-decelerate-yardi-matrix-reports","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/self-storage-sector-street-rates-begin-to-decelerate-yardi-matrix-reports\/","title":{"rendered":"Self Storage Sector Street Rates Begin to Decelerate, Yardi Matrix Reports"},"content":{"rendered":"

Demand is driven by many factors, including new household formation, students returning to campus, cross-country moves and more<\/em><\/p>\n

SANTA BARBARA, Calif., Nov. 22, 2021<\/strong> \u2013 Self storage continued to perform well in October, though street rate gains have backed off from the cycle-high marks recorded in summer 2021, Yardi\u00ae Matrix reports<\/strong><\/a>.<\/p>\n

National street rates for 10×10 non-climate-controlled (NON CC) units increased 8.5% compared to October 2020, while rates for similar-size climate-controlled (CC) units grew 9.8% over the same period. The climate-controlled 10×10 rate dipped under double-digit gains for the first time in seven months.<\/p>\n

Demand is driven by many factors, including the economy, new household formation, students returning to campus, increased consumer spending, and moves by Americans to rapidly growing markets in the Southeast, Southwest and West.<\/p>\n

Fourteen of the top 30 U.S. markets saw rates increase by at least 10% year-over-year, led by Tampa (16% year-over- year) in the CC unit category and by Miami (20%) in the NON CC unit category.<\/p>\n

\u201cWe expect the above-average gains will slowly shrink back closer to the long-term average in coming months<\/strong>,\u201d Matrix analysts state.<\/p>\n

Yardi Matrix tracks a total of 2,399 self storage properties nationwide in various stages of development\u2014comprising 663 under construction, 1,248 planned and 488 prospective properties. Matrix also maintains operational profiles for 27,117 completed self storage facilities across the United States, bringing the total data set to 29,516.<\/p>\n

Yardi Matrix offers the industry\u2019s 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 matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n

About Yardi<\/strong><\/p>\n

Yardi\u00ae 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 yardi.com.<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Demand is driven by many factors, including new household formation, students returning to campus, cross-country moves and more SANTA BARBARA, Calif., Nov. 22, 2021 \u2013 Self storage continued to perform well in October, though street rate gains have backed off from the cycle-high marks recorded in summer 2021, Yardi\u00ae Matrix reports. National street rates for […]<\/p>\n","protected":false},"author":650,"featured_media":2425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[307],"class_list":["post-2424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-self-storage-outlook"],"yoast_head":"\nSelf Storage Sector Street Rates Begin to Decelerate, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Demand is driven by many factors, including new household formation, students returning to campus, cross-country moves and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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