U.S. self storage rents slide on faltering demand, Yardi Matrix reports

Rates trail despite delivery slowdown. Matrix unveils new CMBS and Claude resources

SANTA BARBARA, Calif., Oct. 21, 2026 - U.S. self storage advertised rates remained under pressure through September 2026 as pricing trends and industry feedback indicate a softening of demand in the third quarter, according to new research from Yardi® Matrix.

National advertised rates slipped 1.8% year over year in September, even as slowing construction improves the long-term supply outlook. And although year-over-year advertised rate performance improved from August in half of the top 30 Yardi Matrix metros, positive annual rate growth remained limited. Non-climate-controlled rates increased only in New York City and Salt Lake City, and climate-controlled rates rose only in Austin, Texas, and New York.

Supply pressures eased in most of the top 30 metros in September, with the trailing three-year delivery share declining year-over-year in 21 markets. However, "slower deliveries have yet to translate into meaningful advertised rate improvement due to lease-up properties reportedly taking longer to reach stabilization," according to the Yardi Matrix Self Storage National Report for October 2026, which draws from 2,324 self storage properties in various stages of development. Yardi Matrix also maintains operational profiles for 33,283 completed U.S. self storage facilities.

"Weak population and multifamily rent growth are providing limited support for storage demand across much of the country," the report adds.

In other news, Yardi Matrix now offers clients occupancy data for properties with commercial mortgage-backed securities loans. Self storage professionals can also use the Yardi Matrix Connector for Claude to ask natural language questions about rent trends, occupancy, ownership, loan data, the supply line and other Yardi Matrix data.

Yardi Matrix offers the industry's 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, single-family rentals/build to rent, affordable housing, student housing, self storage, office, industrial, retail and vacant land property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With more than 10,000 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 yardi.com.