In their latest Self Storage National Report, Yardi says national advertised rates were down 0.5% year-over-year in May 2025, with an annualized average rent per square foot of $16.76 for the combined mix of unit sizes and types. This compares to -0.3% in April and -0.2% in March. In addition, Yardi says their data points to a gradual slowdown in new development with new square footage dropping in the coming years.
Yardi Matrix data points to a gradual slowdown in new development. The Q2 2025 Yardi Matrix self storage supply forecast anticipates that new square footage will drop 19% in 2025, 18% in 2026 and 9% in 2027..
The Yardi Matrix tracks a total of 3,058 self storage properties in various stages of development, including 728 under construction, 1,935 planned, and 395 prospective properties.