Self-storage Sector in Strong Position Heading into Leasing Season: Yardi Matrix

Originally published on April 21, 2022, for YardiMatrix.

SANTA BARBARA, Calif., April 21, 2022 – The self storage sector stands in a strong position heading into prime leasing season, according to the latest Yardi® Matrix National Self Storage report. The overall national street rate for self storage remains unchanged from July 2021 at $145.

“The big story is that the industry was able to maintain high rents through the winter months headed into the high-growth season,” states the new report. “Self storage operators are in a good position, as relatively few customers opted against renewing leases during the winter.”

Spring and summer are typically the busiest seasons for self storage leasing and rent growth. The expectation for the coming quarters is a return to more typical growth trends, with strong demand yet more moderate rent gains than last year.

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