{"id":4586,"date":"2022-08-18T08:05:48","date_gmt":"2022-08-18T08:05:48","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4586"},"modified":"2023-09-13T08:54:36","modified_gmt":"2023-09-13T08:54:36","slug":"self-storage-rents-hold-at-record-highs","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/","title":{"rendered":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports"},"content":{"rendered":"\n

With high demand persisting, operators push rates in many markets<\/em><\/em><\/p>\n\n\n\n

SANTA BARBARA, Calif., July 18, 2022<\/strong> \u2013 Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest National Self Storage Report<\/a> from Yardi\u00ae Matrix.<\/p>\n\n\n\n

Average U.S. street rates for 10X10 non-climate-controlled (NON CC) units remained at $132 in June, matching the all-time high set last month. Climate controlled (CC) 10×10 units were an average of $151, also an all time high.<\/p>\n\n\n\n

The latest rates signal an expected slowdown in growth. Nationwide, the overall average street rate, which includes all unit sizes and types, grew 2.1 percent year-over-year in July, a 210-basis-point drop compared to June\u2019s annual rate growth.<\/p>\n\n\n\n

\u201cWith strong demand and street rates at all-time highs, storage operators have more opportunity to increase rents for existing customers and replace rate-sensitive existing customers with new customers at the elevated street rates,\u201d say Matrix analysts.<\/p>\n\n\n\n

During recent second-quarter earnings calls, several REIT executives said they expect seasonality to return in 2022\u2019s second half after several quarters of unusually low move-outs. The number of customers moving out is likely to normalize later this year.<\/p>\n\n\n\n

While street rates are shrinking in some areas of the country, growth remains the healthiest in the Southeast. For 10×10 NON CC units, nine of the top 31 metros had street rate increases greater than five percent in July, while rates decreased in four. For 10×10 CC units, only two of the top 31 had five percent or more growth, while eight experienced negative growth.<\/p>\n\n\n\n

Learn more about the state of the self storage market<\/a> nationwide and sign up for an Aug. 31 webinar<\/a> on the vertical, where Matrix experts will go in-depth on storage trends and the economy overall.<\/p>\n\n\n\n

Yardi Matrix tracks a total of 4,156 self storage properties nationwide in various stages of development \u2014 including 1,555 planned, 762 under construction and 514 prospective properties. Matrix also maintains operational profiles for 28,531 completed self storage facilities across the United States, bringing the total data set to 32,687.<\/p>\n\n\n\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\n\n\n

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

Yardi\u00ae develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with our clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com<\/a>.<\/p>\n\n\n\n

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

With high demand persisting, operators push rates in many markets SANTA BARBARA, Calif., July 18, 2022 \u2013 Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest National Self Storage Report from Yardi\u00ae Matrix. Average U.S. street rates for 10X10 non-climate-controlled (NON CC) units remained […]<\/p>\n","protected":false},"author":650,"featured_media":4587,"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-4586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-self-storage-outlook"],"yoast_head":"\nSelf Storage Rents Hold at Record Highs, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest Self Storage Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports\" \/>\n<meta property=\"og:description\" content=\"Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest Self Storage Report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-18T08:05:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T08:54:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Adler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports - Yardi Matrix Blog","description":"Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest Self Storage Report.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/","og_locale":"en_US","og_type":"article","og_title":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports","og_description":"Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest Self Storage Report.","og_url":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-08-18T08:05:48+00:00","article_modified_time":"2023-09-13T08:54:36+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Adler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports","datePublished":"2022-08-18T08:05:48+00:00","dateModified":"2023-09-13T08:54:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/"},"wordCount":445,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","keywords":["Self Storage Outlook"],"articleSection":["News","Press Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/","url":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/","name":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","datePublished":"2022-08-18T08:05:48+00:00","dateModified":"2023-09-13T08:54:36+00:00","description":"Demand for self storage units is steady, so street rates remained at record highs last month, according to the latest Self Storage Report.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","width":1200,"height":630,"caption":"Self Storage Rents Hold at Record Highs"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/self-storage-rents-hold-at-record-highs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Self Storage Rents Hold at Record Highs, Yardi Matrix Reports"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Matrix_NationalReport_Self_Storage_1200x628_Aug2022_Blog_Image.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/4586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=4586"}],"version-history":[{"count":3,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/4586\/revisions"}],"predecessor-version":[{"id":5880,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/4586\/revisions\/5880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/4587"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=4586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=4586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=4586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}