July 2026 self storage report: Rents stay flat from June, slip 1.5% annually

In July 2026, U.S. self storage rents stagnated at $135 per month: same as in June and a 1.5% decrease from the year previous. Since peak moving season usually lasts from May until August, these figures point to a particularly slouchy year for the self storage industry.

Among the 150 largest U.S. cities, roughly 35% recorded higher street rates year-over-year in July, which is an increase from 31% back in June. The Midwest claims a few cities at the very top of the rent increase ranking, still crowded by Southern and Western regions that usually show up among the biggest rent growths.

Southern rents fold under the high inventories, Western rents slouch due to metro competition

The most pronounced annual rent declines in July 2026 continue to cluster in Sun Belt markets where substantial construction pipelines from prior years have yet to be fully absorbed.

Spring Valley, NV,(opens in new tab) registered the deepest drop nationally, with street rates falling 7.8% year-over-year to $135 per month. Still, that’s right at the national average as of July 2026, so rates are not particularly low in the city. Spring Valley carries a remarkably low local supply figure of just 0.7 square feet per capita, well beneath the 7.0 square foot national benchmark, but its proximity to the broader Las Vegas Valley, one of the most storage-saturated metro areas in the country, creates a competitive regional pricing environment that local supply numbers alone cannot capture.

Southern California continues its downward rent slope in Glendale, CA,(opens in new tab) where street rates fell 7.1% year-over-year to $290 per month. Glendale managed a 1.0% month-over-month recovery from June, which offers a tentative sign that the market may be finding a near-term floor. The city’s supply of 2.1 square feet per capita remains well below the national average, a condition that would ordinarily underpin pricing strength. Instead, the Southern California metro has overpowered the supply constraint more than demand can keep up, though 85,200 square feet of new space forecast for 2026 will add a further layer of pressure to the city’s storage unit rents.

Aurora, IL,(opens in new tab) rounds out the top three decliners with a 7.0% annual drop to $109 per month, accompanied by a sharper 1.6% month-over-month slide from June. The city absorbed 102,000 square feet of new supply in 2025 and is slated to absorb an additional 21,200 square feet in the 2026 forecast, a modest but consistent stream of additions that has been sufficient to soften pricing even in an undersupplied market.

Huntsville, AL,(opens in new tab) fell 6.5% year-over-year to $92 per month, carrying the heaviest supply burden of any city in the top-ten decliners at 13.6 square feet per capita. Huntsville took on 487,000 square feet of new inventory in 2025 alone, and the market now faces the long work of digesting that addition before being able to raise rents again.

Rounding out the top 5, St. Petersburg, FL,(opens in new tab) and Tucson, AZ,(opens in new tab) each recorded a 6.4% annual decline, though the underlying dynamics differ considerably. St. Petersburg has a comparatively measured supply of 5.8 square feet per capita with no new construction on the horizon, so its softness may come from a demand-side weakness rather than structural oversupply. Tucson, by contrast, sits at 9.1 square feet per capita and absorbed 625,300 square feet of new supply in 2025, with another 175,500 square feet scheduled for 2026, conditions that point to continued rate pressure well into next year.

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

While oversupplied Sun Belt metros continue to drag on the national average, a separate cohort of tightly inventoried cities is logging meaningful rent growth, with California’s Santa Clarita(opens in new tab) sitting well ahead of the pack. Santa Clarita posted a 10.3% year-over-year increase in July, lifting average street rates to $192 per month. With only 4.4 square feet of storage available per resident, a figure that falls well short of the national benchmark, Santa Clarita’s pricing strength points to a genuine and unresolved shortage of available space. The market added a further 0.7% month-over-month in July, a continuation of the steady upward climb that has characterized this city for much of the year.

Milwaukee, WI,(opens in new tab) claimed the second spot nationally with a 6.1% annual increase, bringing average rates to $113 per month. Milwaukee offers just 3.8 square feet per capita, one of the more constrained supply pictures among Midwestern cities, and received just 60,325 square feet of new inventory in 2025 with no additional forecast for 2026. That thin development pipeline, combined with persistent demand from a densely populated metro, continues to push pricing higher.

Fort Wayne, IN,(opens in new tab) rounded out the top three at 5.8% year-over-year growth and $106 per month, though it posted flat month-over-month performance in July. Fort Wayne sits right at the national supply average of 7.5 square feet per capita and has maintained rent growth through a steady but manageable cadence of new additions: 179,800 square feet delivered in 2025 and 93,700 square feet forecast for 2026.

In Southern California, Ontario(opens in new tab) logged a 5.3% annual gain to $143 per month, despite receiving no new supply in 2025 and carrying a modest 2.4 square feet per capita. Ontario’s performance echoes a broader pattern visible across the Inland Empire, where storage demand from residents seeking affordable proximity to Los Angeles continues to support operators even as coastal metros soften. Montgomery, AL,(opens in new tab) added 4.7% year-over-year to reach $78 per month, which stands out given the city’s elevated supply of 15.3 square feet per capita, one of the highest readings in the country. The 109,700 square feet added in 2025 has clearly not dampened pricing, suggesting that local demand dynamics are more resilient than the raw supply figure implies.

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

Self storage development remains firmly anchored in the Sun Belt as 2026 progresses, with Florida and Texas cities leading a construction pipeline that continues to add meaningful square footage to already well-supplied regional markets.

Jacksonville, FL,(opens in new tab) sits at the top of the 2026 forecast with 705,400 square feet scheduled for delivery, representing 7% of the city’s current inventory. Jacksonville already carries 10.5 square feet per capita, a generous provision that exceeds the national average, and the scale of incoming supply will demand robust absorption to prevent the kind of pricing erosion visible elsewhere in the Sun Belt.

Top Cities for 2026 Construction

Houston, TX,(opens in new tab) follows closely with 668,400 square feet in the 2026 pipeline, amounting to 2% of existing inventory. Houston’s supply sits precisely at the national benchmark of 7.0 square feet per capita, a relatively balanced position that gives new deliveries a more manageable absorption backdrop than the Florida or Nevada markets currently face.

Meanwhile, Las Vegas, NV,(opens in new tab) is set to add 666,300 square feet this year, equal to 4% of inventory. Las Vegas already holds 8.2 square feet per capita, comfortably above the national average, and the scale of new construction flowing into the broader Nevada market will sustain the downward pricing pressure already visible in Spring Valley and Paradise.

In Cape Coral, FL,(opens in new tab) the 472,100 square feet forecast for delivery this year represents 21% of the city’s existing inventory, the highest share of any major tracked market. Cape Coral’s per capita supply already stands at 9.4 square feet, and the combination of that elevated baseline with a surge of new completions points to intensifying rate pressure through the remainder of the year and into 2027.

El Paso, TX,(opens in new tab) is set to receive 387,200 square feet in 2026, equal to 8% of inventory, against a current supply of 6.5 square feet per capita. El Paso sits modestly below the national benchmark, meaning the new additions are more likely to address a genuine supply gap than to compound an existing surplus. Miami, FL,(opens in new tab) closes out the top six with 379,270 square feet of projected completions, representing 4% of inventory. Miami’s supply of 4.0 square feet per capita remains well below national norms, and the incoming pipeline will begin to address a long-standing shortage in one of the country’s most densely populated storage markets.

Conclusion

Looking ahead into the closing months of 2026, the industry’s trajectory will hinge on how quickly oversupplied markets can work through their existing inventory glut, and whether the modest broadening of rent growth visible in July can hold without the tailwind of peak moving season.

The strengthening performance of Midwestern cities like Milwaukee and Overland Park suggests that markets insulated from the Sun Belt’s supply surge may gradually take on a more prominent role in shaping the national market. For now, the flat summer and the stubborn 1.5% annual decline paint a picture of a sector that is stabilizing without yet recovering.

Methodology

This analysis was conducted by RentCafe Self Storage(opens in new tab), an online platform offering nationwide listings for apartments and storage units.

This report considers self storage rents and forecasted construction for 2026 based on July 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(opens in new tab), 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:

• June 2026 self storage report: Rents slip 1.5% annually, edge up 0.7 from May(opens in new tab)
• May 2026 self storage report: Rates fall annually, stagnate monthly(opens in new tab)
• April 2026 self storage report: Rents up from March, yet down year-over-year(opens in new tab)
• March 2026 self storage report: Rents slide in most U.S. cities(opens in new tab)
• February 2026 self storage report: Rents slip nationally for first time since 2025 as seasonal cooling takes hold(opens in new tab)
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