Self Storage (Matrix)
Self Storage Rents Show Signs of Improvement
While street-rate rents were down 0.9 percent on a year-over-year basis, the rate actually indicates an 80-basis-point improvement compared to the previous month’s rent rate decrease of 1.7 percent.
Self Storage Rents Still Down Across the US
Despite significant rent growth in the West, street-rate rents declined 1.7 percent on a national level. Additionally, the new development pipeline continued to decrease.
Self Storage Rents Slightly Down, Reflecting Seasonality
Large markets in the Northeast and Southwest continued to experience rent growth, however, street-rate rents fell by 1.7 percent on a national level.
Increased Development Activity Burdens Self Storage Rent Growth
Although metros on the West maintained rent growth, street-rate rents declined 4.1 percent across the country. The new-supply pipeline, however, continued to rise.
Self Storage Rents Fall, Inventory Increases
New projects coming online have continued to put pressure on self storage rents, which have dropped by 4.9 percent nationally.
Heavy Supply Continues to Compress Self Storage Rents
Although metros on the West maintained rent growth, on a national level, street-rate rents have dropped 4.8 percent over the past 12 months.
Oversupplied Self-Storage Markets Face Further Rent Decline
Street-rate rents have dropped 4.1 percent across the U.S. Metros on the west, however, continued to elevate as supply lags demand.
Slow Absorption Hinders Self Storage Rent Growth
Although metros in the Desert Southwest maintained rent growth, street-rate rents continued to decline, at 3.3 percent across the country. The new-supply pipeline, however, reached peak levels.
Self Storage Rents Still Down Year-Over-Year
Despite robust growth in western markets, street-rate rents dropped 3 percent nationally as of June 2018.
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