On a monthly basis, 24 out of the 30 metros recorded contractions, while the remaining six saw advertised asking rent growth, according to the latest Yardi Matrix self storage market outlook.<\/p>\n\n\n\n
In August, the national average annualized same-store advertised asking rent per square foot was $16.31 for the combined mix of unit and sizes. This figure marked a 4.3 percent decrease compared to August 2023. Rates for combined non-climate-controlled units fell by 3.8 percent on a year-over-year basis as of August, while same-store advertised asking rates for climate-controlled units decreased by 5.1 percent. NCC units are performing better than CC units based on customer preference and the new supply of CC units which weighs on rates.<\/p>\n\n\n\n