June 2026 self storage report: Rents slip 1.5% annually, edge up 0.7% from May

Andrei Popa-July 22, 2026

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National street rates averaged $135 in June 2026, down 1.5% year-over-year but up 0.7% from May, as the summer moving season provides a modest seasonal floor.
Spring Valley, NV, posted the steepest annual rent decline at 10.3%, while Glendale, CA, and St. Petersburg, FL, followed with drops of 7.6% and 7.4%, respectively.
Santa Clarita, CA, once again led all cities for rent growth at 11.3% year-over-year, with Lincoln, NE, and Akron, OH, also posting solid gains.
Sun Belt markets continue to absorb elevated supply, driving downward pressure on rents across Nevada, Florida, and Alabama.
Houston, TX, and Las Vegas, NV, head 2026’s construction pipeline, with 789,500 and 767,200 square feet forecasted for delivery, respectively.

The U.S. self storage market continued to navigate a period of recalibration in June 2026, with national street rates averaging $135 per month: a 1.5% decline from a year earlier. On a month-over-month basis, however, rates edged up 0.7% from May, a sign that peak moving season is providing some underlying support.

Among the 150 largest U.S. cities, roughly 31% recorded higher street rates year-over-year, as conditions vary sharply by region: tight coastal markets continue to push rents higher, while oversupplied secondary Sun Belt cities remain under sustained pressure.

Sun Belt markets drive rent declines as excess inventory weighs on pricing

The sharpest year-over-year rent declines in June 2026 remain concentrated in Sun Belt cities, where elevated inventories and softer housing market activity are tempering demand. Spring Valley, NV, posted the steepest drop nationally, with street rates falling 10.3% year-over-year to $135 per month. The decline also registered month-over-month, with rates slipping an additional 1.1% from May. Spring Valley’s supply sits at less than one square foot per capita (well below the national average) but proximity to the broader Las Vegas Valley, one of the most storage-dense markets in the country, creates a competitive pricing environment that continues to suppress local rates.

The second-steepest drop registered was in Glendale, which recorded a 7.6% annual rent decline to $286 per month, despite having only 2.1 square feet of storage per capita, a level that typically supports pricing strength. The city did post a 2.1% month-over-month gain in June, offering a potential early signal of stabilization. Glendale has 85,200 square feet projected for 2026, which will add modest pressure to an already challenged market.

Florida’s Sun Belt markets also feature prominently among the top decliners. St. Petersburg saw rates fall 7.4% year-over-year to $153 per month, with a slight 0.7% month-over-month dip as well. With 5.8 square feet per capita and no new supply scheduled for 2026, the decline appears tied to reduced housing activity rather than an inventory overhang.

Cape Coral, FL, dropped 7.2% to $150 per month, which is notable given the city’s already elevated supply of 9.1 square feet per capita. With a substantial 471,300 square feet to be delivered in 2026 (representing 21% of current inventory) Cape Coral faces the most aggressive new supply addition of any major market this year, which will likely sustain downward pressure on rates through the remainder of 2026.

Rounding out the top five decliners, Huntsville, AL, logged a 7.0% year-over-year drop to $93 per month. Huntsville already carries the heaviest supply burden among the top decliners, at 13.6 square feet per capita.

Undersupplied markets post rent gains, with Santa Clarita leading national growth

While Sun Belt metros absorb excess supply, a separate cohort of undersupplied cities across the coasts and the Midwest is recording meaningful rent growth. Santa Clarita, CA, led all markets nationally in June 2026 with an 11.3% year-over-year increase, pushing average street rates to $192 per month. With 4.4 square feet per capita (well below the 7.0 national benchmark) and no new supply scheduled through 2026, Santa Clarita’s tight inventory continues to drive pricing upward. The market also posted a strong 2.1% month-over-month gain, suggesting momentum heading into the back half of the year.

June 2026’s third-highest annual increase was in Lincoln, NE, where rates grew 6.9% and reached a $129 per month average. Lincoln sits precisely at the national supply average of 7.0 square feet per capita, but its rate growth suggests demand is outpacing available inventory in the local market. The city has 236,700 square feet of new supply forecast for 2026, which could temper future gains as that space delivers.

Akron, OH, posted a 5.3% year-over-year increase to $103 per month, with a particularly strong 3.1% month-over-month gain in June; the largest monthly increase among the top growth cities. With 5.2 square feet per capita and no new supply in the pipeline, Akron’s pricing trajectory reflects demand pressure in an underbuilt market.

In the same league, Fort Wayne, IN, climbed 5.1% year-over-year to $105 per month. The city sits at 7.5 square feet per capita, slightly above the national average, but demand has been sufficient to sustain rent growth. Fort Wayne has 178,700 square feet forecasted for 2026; a steady development pace that will require continued absorption to maintain the current pricing environment.

Port St. Lucie, FL, stands out among the growth markets as the lone Florida city in the top five for rent increases, up 4.9% year-over-year to $130 per month. With 6.4 square feet per capita and no new supply scheduled through 2026, the city’s continued population growth: up more than 33% over the past five years — is sustaining storage demand and supporting pricing even as its Sun Belt neighbors see declines.

2026 construction pipeline concentrated in Sun Belt, with Cape Coral facing the largest inventory surge

Self storage development activity in 2026 remains anchored in Sun Belt metros, where long-term demand fundamentals continue to attract capital despite near-term softness in several markets. Houston, TX, leads all cities with more than 789,500 square feet forecasted for delivery this year, representing 3% of its current inventory. Houston’s supply of 7.0 square feet per capita (precisely at the national benchmark) positions the city to absorb new deliveries without severe pricing disruption, provided demand holds steady.

Top Cities for 2026 Construction

Rank	City	2026 Expected Supply (Sq. Ft.)	2026 New Supply as % of Inventory	Sq. Ft. Per Capita
1	Houston, TX	789,519	3%	7.0
2	Las Vegas, NV	767,195	5%	8.2
3	Phoenix, AZ	471,840	4%	5.6
4	Cape Coral, FL	471,280	22%	8.7
5	San Diego, CA	384,284	6%	4.2
6	Jacksonville, FL	335,365	3%	10.5
7	Reno, NV	312,509	6%	14.6
8	San Antonio, TX	288,935	2%	9.6
9	Virginia Beach, VA	257,458	4%	11.2
10	Tallahassee, FL	251,023	8%	11.7
11	Greensboro, NC	240,849	6%	11.2
12	Lincoln, NE	236,668	12%	7.0
13	Tampa, FL	232,851	3%	7.3
14	El Paso, TX	230,595	5%	6.5
15	Mesa, AZ	217,421	4%	6.1
16	Oklahoma City, OK	216,370	3%	9.2
17	Sacramento, CA	208,141	3%	5.1
18	Toledo, OH	201,456	10%	4.8
19	Elk Grove, CA	196,310	12%	5.2
20	Fort Lauderdale, FL	186,174	7%	3.8
21	Chandler, AZ	185,053	8%	4.9
22	Fort Wayne, IN	178,714	7%	7.5
23	Colorado Springs, CO	176,468	2%	11.6
24	Little Rock, AR	175,275	5%	13.4
25	Irvine, CA	169,824	5%	5.3
26	Orlando, FL	163,880	2%	7.1
27	Rochester, NY	162,045	8%	3.7
28	Richmond, VA	158,013	4%	6.0
29	North Las Vegas, NV	156,709	6%	4.9
30	Tucson, AZ	156,542	2%	9.1
31	Denver, CO	151,290	3%	3.5
32	Memphis, TN	147,671	2%	8.3
33	Anaheim, CA	147,390	10%	1.5
34	Austin, TX	143,423	1%	7.9
35	Atlanta, GA	141,928	2%	4.7
36	Los Angeles, CA	126,358	2%	2.1
37	Arlington, TX	118,162	3%	6.2
38	Philadelphia, PA	112,374	2%	3.4
39	Dallas, TX	110,706	1%	5.2
40	Peoria, AZ	107,374	6%	4.6
41	McKinney, TX	103,425	3%	8.4
42	Indianapolis, IN	98,968	1%	7.1
43	Augusta, GA	96,339	4%	9.1
44	Raleigh, NC	96,009	2%	7.6
45	Cleveland, OH	95,188	5%	2.2
46	Birmingham, AL	95,071	2%	7.7
47	Charlotte, NC	91,912	1%	7.4
48	Gilbert, AZ	91,438	4%	3.9
49	Bakersfield, CA	91,430	2%	10.0
50	Ontario, CA	90,350	11%	2.4
51	Glendale, AZ	89,487	3%	3.2
52	Henderson, NV	89,478	3%	6.6
53	Mobile, AL	85,727	3%	11.4
54	Glendale, CA	85,187	11%	2.1
55	Portland, OR	85,167	2%	4.5
56	Corpus Christi, TX	81,533	0%	11.7
57	Hialeah, FL	80,300	6%	2.3
58	Albuquerque, NM	75,954	1%	7.6
59	Oxnard, CA	73,552	5%	5.3
60	Knoxville, TN	67,788	1%	10.0
61	Kansas City, MO	67,756	2%	3.8
62	Newport News, VA	67,245	4%	6.6
63	Yonkers, NY	66,622	6%	2.1
64	Chicago, IL	54,471	0%	3.5
65	Overland Park, KS	54,015	4%	3.2
66	Santa Rosa, CA	50,841	2%	8.3
67	Fresno, CA	50,445	1%	7.1
68	Cincinnati, OH	49,500	1%	4.3
69	Buffalo, NY	39,950	4%	1.8
70	Fayetteville, NC	35,435	1%	12.6
71	Vancouver, WA	33,425	1%	8.5
72	Des Moines, IA	32,832	2%	4.9
73	Louisville, KY	26,220	0%	7.6
74	Eugene, OR	24,547	1%	7.4
75	Seattle, WA	23,737	1%	4.3
76	Pittsburgh, PA	22,500	1%	3.7
77	Aurora, IL	21,195	2%	2.8
78	Norfolk, VA	14,535	1%	5.5
79	Plano, TX	10,925	0%	5.4

RentCafe Self Storage analysis of Yardi Matrix data (Data as of May 2026 | Pub: Jun. 2026)
* Construction (%) for 2026 as a percentage of the total existing inventory at the end of 2025

Meanwhile, Las Vegas, NV, is set to add 767,200 square feet in 2026, equal to 5% of its existing inventory. With 8.2 square feet per capita already exceeding the national average, the addition of new supply into an already well-inventoried market will require careful absorption. The broader Las Vegas Valley’s competitive pricing environment, already visible in Spring Valley’s performance, underscores the challenge operators face in maintaining street rates as new projects deliver.

Phoenix, AZ, follows with 471,800 square feet forecast for 2026 (about 4% of inventory) against a current supply level of 5.6 square feet per capita. Phoenix remains slightly undersupplied relative to the national benchmark, giving the new additions a more favorable absorption backdrop than Las Vegas.

A particularly notable case of storage development is Cape Coral, FL. The city’s forecasted 471,300 square feet represents 21% of the city’s current inventory: the highest proportional increase among tracked. For a market already carrying 9.1 square feet per capita, this volume of new supply will exert significant downward pressure on rents well into 2027.

To round up the top 5, San Diego, CA, is set to add 384,300 square feet in 2026, representing 6% of inventory. At 4.2 square feet per capita, San Diego remains meaningfully undersupplied, and the new deliveries will address a shortage rather than compound an oversupply situation. Jacksonville, FL, rounds out the top six with 335,400 square feet scheduled, though its existing supply of 10.5 square feet per capita, which is among the highest of any major market — means new additions face a more competitive pricing environment.

Conclusion

Looking ahead, the second half of 2026 will test whether undersupplied markets like Santa Clarita and Port St. Lucie can sustain their momentum, and whether overbuilt markets in Nevada and Florida begin to absorb enough inventory to arrest declining street rates. The modest national recovery in June’s month-over-month figure offers a measure of cautious optimism, but the gap between coastal and Sun Belt market performance suggests the industry’s path to equilibrium will remain uneven.

Methodology

This analysis was conducted by RentCafe Self Storage, an online platform offering nationwide listings for apartments and storage units.

This report considers self storage rents and forecasted construction for 2026 based on June 2026 data.

The report features the 150 most populous cities that have a self storage inventory. The self storage street rate is calculated as the weighted averages of the street rates for all storage unit sizes, including both non-climate-controlled and climate-controlled units included.

Data on self storage street rates, deliveries and 2026 forecasted construction activity came from our sister division Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self storage sectors.

Fair use and distribution

This study is intended as a resource for the general public on topics of common interest and should not be considered investment advice. The data presented is accurate to the best of our knowledge, based on thorough and good-faith research, but may change due to external factors.

We permit the distribution of this content, provided that proper attribution is given to “RentCafe Self Storage” with a link back to the research study.

Want to explore how this trend has developed over time? Check out our previous reports for historical data and insights on the topic:

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Andrei Popa

Andrei Popa is a writer and editor for StorageCafe. After writing real estate copy for two years, he made the jump to editorial writing and data-driven storytelling with a focus on the self storage industry.