Matrix Self Storage National Report-March 2024 March 27, 2024

2024 Self Storage Outlook Faces Headwinds

Storage performance slipped in 2023, and there are few signs that market conditions are picking up going into the busier spring leasing season. However, a turnaround in the housing market later this year or early in 2025—contingent on interest rate cuts—could unlock pent-up demand for housing and migration, thus fueling demand for self storage.