Phoenix, September 25, 2025
News Summary
The self-storage market shows mixed trends in rates and construction activity. Advertised street rates have risen slightly year-over-year, while construction continues across 3,004 properties. Despite some regional successes in rate increases, many areas are experiencing a decline in rent growth. Key cities such as Phoenix and Tampa are leading in construction activity, highlighting a complex landscape in the self-storage industry.
Self-Storage Market Experiences Mixed Trends in Rates and Construction Activity
The self-storage market has shown mixed trends in its rates and construction activity, according to the latest Yardi Matrix report. As of this month, the overall advertised street rate for self-storage has risen by 0.3 percent year-over-year, signaling a slight increase in demand. The annualized average rent per square foot now stands at $16.91, reflecting the ongoing dynamics of the self-storage industry.
In a closer look at regional performance, 16 of the top 30 metropolitan areas have seen an increase in advertised rates for non-climate-controlled units. Similarly, 20 of the top 30 metros reported improved advertised street rates for climate-controlled units compared to the same period last year. However, the monthly average advertised street rates for combined 10×10 non-climate and climate-controlled units experienced a decline of 0.2 percent.
Out of the 30 metropolitan areas being tracked, it appears that 20 reported negative movements in advertised asking rent growth. Despite this, several cities registered increased rates, including Raleigh-Durham, Austin, Washington D.C., San Diego, Miami, Boston, Orlando, Charlotte, and Atlanta. In contrast, Philadelphia’s rates remained flat during this period.
Current Construction Trends in Self-Storage
As of August, there are currently 3,004 self-storage properties in various stages of development throughout the nation. The construction pipeline includes 716 properties under construction, 1,906 planned, and 382 prospective properties. Notably, properties under construction now represent 2.7 percent of total stock, which has decreased by 10 basis points from the previous month.
In total, 53.6 million net rentable square feet are currently under construction nationwide, amounting to 2.7 percent of existing inventory—down 0.1 percent month-over-month. Less than half of the top 30 metropolitan areas have under-construction pipelines below the national average, particularly evident in the Mid-Atlantic and southeastern regions.
San Jose and San Francisco show the lowest levels of under-construction stock, at 0.5 percent and 0.3 percent respectively. Only four metro areas have experienced an increase in under-construction supply month-over-month: Tampa with a 70-basis-point increase, New York with 20 basis points, Washington D.C. with 30 basis points, and Minneapolis showing a 90 basis points increase.
In terms of construction activity levels, Phoenix leads the nation, with 6.1 percent of its existing stock currently under construction—this figure remains unchanged from last month. Other metropolitan areas with significant construction activities include Las Vegas at 5.7 percent, Charleston, SC at 5.4 percent, and Orlando also at 5.4 percent.
Key Takeaways
This report paints a comprehensive picture of the self-storage market’s current status, combining both advertised rate changes and the ongoing construction activities.
| Key Feature | Details |
|---|---|
| Overall Rate Change | 0.3 percent year-over-year increase |
| Average Rent per sq. ft. | $16.91 |
| Under Construction Properties | 716 properties |
| Total Development Pipeline | 3,004 properties |
| National Under-Construction Supply Percentage | 2.7 percent |
| Leading Metro for Construction | Phoenix at 6.1 percent |
FAQ
What is the overall advertised street rate change for self-storage?
The overall advertised street rate for self-storage rose by 0.3 percent year-over-year.
What is the annualized average rent per square foot?
The annualized average rent per square foot stands at $16.91 per the Yardi Matrix national self-storage report.
How many self-storage properties are currently under construction nationwide?
As of August, there were 3,004 self-storage properties in various stages of development nationwide.
Deeper Dive: News & Info About This Topic
Additional Resources
- Multihousing News: Self-Storage National Report – September 2025
- Wikipedia: Self-storage
- Inside Self Storage: 10 Federal Releases 2024 Financial Results
- Google Search: self-storage market
- PR Newswire: 10 Federal Adds 27 Properties in 2024
- Encyclopedia Britannica: self-storage
- JLL: 8-Property Self-Storage Portfolio Sells
- Google News: self-storage industry news
Author: Construction FL News
FLORIDA STAFF WRITER The FLORIDA STAFF WRITER represents the experienced team at constructionflnews.com, your go-to source for actionable local news and information in Florida and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florida Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Florida and the Florida Home Builders Association, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Shutts & Bowen LLP. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
