{"id":8430,"date":"2025-01-31T11:01:00","date_gmt":"2025-01-31T11:01:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8430"},"modified":"2025-02-19T08:08:51","modified_gmt":"2025-02-19T08:08:51","slug":"self-storage-market-outlook-january-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/self-storage-market-outlook-january-2025\/","title":{"rendered":"Self Storage Market Outlook \u2013 January 2025"},"content":{"rendered":"\n

Read the latest Yardi Matrix Self Storage Market Outlook<\/a><\/strong>.<\/p>\n\n\n\n

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On a monthly basis, 14 out of the 30 metros recorded contractions, while the remaining 16 saw advertised asking rent growth increase or remained flat, according to the latest Yardi Matrix self storage market outlook.<\/em><\/p>\n\n\n\n

Key takeaways<\/h2>\n\n\n\n
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  • As of December, the advertised asking rent movement continued to be negative, with the average annualized same-store asking rent per square-foot down 2.3 percent for the combined mix of unit sized and types.<\/li>\n\n\n\n
  • Same-store advertised asking rates for the combined non-climate-controlled units were down 2.0 percent year-over-year, while rates for climate-controlled units fell by 2.8 percent.<\/li>\n\n\n\n
  • Out of the top 30 metros tracked by Yardi Matrix, 14 saw contractions month-over-month, while sixteen recorded advertised rate growth increase or remained unchanged, as the overall per square foot rate rates stayed flat, to $16.28.<\/li>\n\n\n\n
  • The national under-construction pipeline equaled 3.1 percent of existing inventory, down 10 basis points from the previous month.<\/li>\n<\/ul>\n\n\n\n

    YoY advertised rate performance declines at a slower pace<\/h2>\n\n\n\n

    In December, the national average annualized same-store advertised asking rate per square foot was $16.28 for the combined mix of unit and sizes. This figure marks a 2.3 percent decrease compared to December 2023 but has moved at a slower rate than in the previous 20 months. This decrease was also less than its -3.5 percent average over the past 12 months. Rates for combined non-climate-controlled units were down 2.0 percent on a year-over-year basis as of December, while same-store advertised asking rates for climate-controlled units decreased by 2.8 percent.<\/p>\n\n\n\n