Self Storage (Matrix)
Self Storage Development Weakens, Rents Still Down Year-Over-Year
Despite a slight 10 basis-point increase in the new-supply pipeline, development activity is starting to slow down in top markets tracked by Yardi Matrix.
Self Storage Rents and Inventory Still Out of Balance
Although metros on the West maintained rent growth, on a national level, street-rate rents have dropped 1.7 percent over the past 12 months.
Self Storage Rents Still Down Year-Over-Year
Heightened construction activity continued to hinder rent growth in the storage sector across the U.S.
Heavy Supply Continues to Pressure Self Storage Rents
New projects coming online have continued to pressure self storage rents, which have dropped by 2.5 percent nationally.
Self Storage Rents Continue Descent
Street-rate rates have dropped 1.7 percent across the U.S. Select metros in the west, however, continued to experience some improvement.
Self Storage Rents Take a Dive
Nationally, rents fell 2.5 percent for standard non-climate-controlled units and 4.3 percent for climate-controlled units.
Self Storage Rents Expected to Fall Over the Summer
Rent growth in the sector continues to be hindered by high levels of new development. Street-rate rents dropped by 1.7 percent nationally.
Saturated Markets Push Down Self Storage Rents
Street rates decreased in about 42 percent of the top markets tracked by Yardi Matrix. Nationally, rents fell by 0.9 percent for standard non-climate-controlled units and 2.2 percent for climate-controlled units.
Self Storage Rents Continue Slow Decline
A new wave of completed projects and oversupplied markets put pressure on rents, which have dropped 1.7 percent on a national level.
Strong Demand for Self Storage Pushes Rents Towards Recovery
Although street-rate rents remained flat for the standard non-climate-controlled units month-over-month, rent performance for climate-controlled units improved by 70 basis points compared to the previous month.
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