Matrix National Self Storage Monthly-November 2021 November 18, 2021

Self Storage Extends Growth Streak in October

Self storage rent growth has begun to decelerate, but growth remains extremely robust compared to a year ago. In October, national street rates were up 8.5% for 10x10 non-climate-controlled units and 9.8% for similar-size climate-controlled units. Demand has been driven by robust household formation, college students returning to campus, and migration to markets in the Southeast, Southwest and West.