{"id":7811,"date":"2024-09-23T14:03:55","date_gmt":"2024-09-23T14:03:55","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7811"},"modified":"2024-09-30T14:07:23","modified_gmt":"2024-09-30T14:07:23","slug":"uncertainty-for-self-storage-sector-in-second-half-of-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/uncertainty-for-self-storage-sector-in-second-half-of-2024\/","title":{"rendered":"Uncertainty for Self Storage Sector in Second Half of 2024, According to Yardi Matrix"},"content":{"rendered":"

Advertised asking rates remained negative across all top metros in August<\/em><\/p>\n

SANTA BARBARA, Calif., Sept. 23, 2024<\/strong> \u2013 Despite the uncertainty fueled by declines in advertised asking rental rates, investor interest remains high for acquisition and development, depending on seasonal patterns as well, according to industry data contained in the latest Self Storage National Report<\/a><\/strong> from Yardi\u00ae Matrix.<\/p>\n

The annualized same store advertised asking rate reached an average of $16.31 nationally in August 2024. That is a 4.3 percent decrease on a year-over-year (YoY) basis. This is the 23rd consecutive month of declines.<\/p>\n

All top metros tracked by Yardi Matrix saw negative movement in advertised asking rents in August. Combined same-store advertised asking rents for non-climate-controlled units and climate-controlled units decreased YoY. Rates for larger units are faring better than those for smaller units in almost all metros.<\/p>\n

Yardi Matrix tracks a total of 3,408 self storage properties in various stages of development, including 837 under construction, 2,063 planned and 508 prospective properties. Yardi Matrix also maintains operational profiles for 32,142 facilities, bringing the total data set to 35,550.<\/p>\n

Gain more information on the performance of the self storage sector<\/a><\/strong>.<\/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, affordable housing, student housing, vacant land, industrial, office, retail and self storage property types. Email\u00a0matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0yardimatrix.com<\/a>\u00a0to learn more.<\/p>\n

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

Celebrating its 40-year anniversary in 2024, Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit\u00a0yardi.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Advertised asking rates remained negative across all top metros in August SANTA BARBARA, Calif., Sept. 23, 2024 \u2013 Despite the uncertainty fueled by declines in advertised asking rental rates, investor interest remains high for acquisition and development, depending on seasonal patterns as well, according to industry data contained in the latest Self Storage National Report […]<\/p>\n","protected":false},"author":753,"featured_media":7812,"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-7811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-self-storage-outlook"],"yoast_head":"\nUncertainty for Self Storage Sector in Second Half of 2024, According to Yardi Matrix - Yardi Matrix Blog<\/title>\n<meta name=\"description\" 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