January 2026 self storage report: Rents hold steady nationwide as market enters third month of stabilization

Andrei Popa-February 24, 2026

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National street rates held at $133 per month in January 2026, unchanged both year-over-year and month-over-month.
Boston, MA, and Montgomery, AL, posted the strongest annual gains at 14.9% and 14.1%, respectively, driven by supply constraints.
Spring Valley, NV, recorded the steepest decline at -7.8% year-over-year as Las Vegas metro inventory continues to expand.
Houston, TX, leads the nation’s 2026 construction pipeline with nearly 1.8 million square feet scheduled for delivery.

The U.S. self storage market entered 2026 with remarkable stability, as national street rates held steady at $133 per month in January. With rates unchanged both year-over-year and from December 2025, the market continues to demonstrate resilience following the volatility of previous years, as operators balance new supply deliveries against sustained demand across diverse markets.

While the national average remains flat, individual city performance reveals significant geographic variation. Markets with undersupply — particularly coastal cities offering less than 3 square feet per capita — continue to command premium pricing and post strong gains. Conversely, Sun Belt markets with generous inventories exceeding 8 square feet per capita face ongoing downward pressure on rates.

Construction activity remains robust heading into 2026, with Houston, Los Angeles, and Las Vegas leading development plans. These cities are scheduled to add a combined 3.4 million square feet of rentable space this year, reflecting continued investor confidence despite varied local market conditions.

Sun Belt markets with high inventory post most significant rent declines

Rent decreases in January 2026 were concentrated in Sun Belt cities where ample storage supply continues to weigh on pricing. Five of the top markets for rent declines are located in the region, with oversupply remaining the primary driver.

Spring Valley, NV, near Las Vegas, logged the steepest year-over-year drop at -7.8%, bringing average monthly rates to $139. Despite strong population growth of 10.1% over the past five years, Spring Valley already saw about 207,541 square feet of new self storage come online last year. What’s more, apartment sizes in Spring Valley run upwards of 1000 square feet, which suggests a lesser need of space away from home. Rates also declined 1.4% month-over-month, a sign of continued adjustment to elevated inventory levels.

Farther out West, Elk Grove, CA, saw rates fall 6.8% year-over-year to $132 — below the national average — though monthly rates held steady. Last year, the city added over a million more square feet of self storage to its inventory, bringing it slightly closer to the national average. This new addition may have answered the resident demand for extra space, thus stabilizing the rents.

Cape Coral, FL, also experienced a 6.1% annual decline despite explosive 15.6% population growth over five years. The city offers a very generous 8.6 square feet of storage per resident, well above the national average of 7 square feet per capita. This high inventory cushion has allowed rates to ease to $154 per month even as the customer base expands rapidly. The minimal month-over-month change of -0.1% suggests prices are nearing equilibrium in this fast-growing market.

Out east, Fayetteville, NC, posted a 5.6% year-over-year drop to $102, with rates down 1.1% from December. The city’s exceptionally high inventory of 12.6 square feet per capita — nearly double the national norm — continues to foster competitive pricing. A slight population decline of -0.1% over five years further reduces pressure on available space, enabling operators to maintain occupancy through rate adjustments.

Mobile, AL, rounded out the top five declines with a 4.9% annual decrease to $100. The city offers 11.3 square feet per capita alongside a 3.3% population decline over five years, creating a classic oversupply scenario. With rates holding flat month-over-month, Mobile appears to have reached a pricing floor that balances its generous inventory against a shrinking customer base.

Undersupplied coastal and Midwestern markets drive strongest rent growth

The highest rent increases in January 2026 were concentrated in severely undersupplied markets, where storage availability falls far below national benchmarks and demand continues to outpace available inventory.

Boston, MA, recorded the nation’s biggest year-over-year gain at 14.9%, pushing average rates to $222 per month. With just 0.7 square feet of storage per capita — one of the lowest levels nationwide — Boston’s extreme scarcity continues to support premium pricing despite a 2.3% population decline over five years. Rates climbed 0.8% from December, pointing to a sustained upward momentum even outside peak moving season. The city’s dense urban environment and limited development opportunities maintain structural undersupply that shows no signs of abating.

Meanwhile, Montgomery, AL, posted the second-highest increase at 14.1%, with rates reaching $72 per month — less than half the national average. Even considering the low pricing, that’s a remarkable 7.8% jump from December alone. Despite offering 15.1 square feet per capita — more than double the national average — and experiencing a 0.9% population decline, Montgomery’s unusually low absolute pricing creates room for operators to implement increases without triggering customer resistance. Plus, the city’s role as Alabama’s capital may generate commercial and governmental storage needs that sustain demand.

Back on the West Coast, Santa Clarita, CA, logged an 8.1% annual increase to $177. The city provides 4.4 square feet per capita — below the national average — while enjoying robust 9.3% population growth over five years. This combination of supply constraints and demographic expansion creates favorable pricing conditions. Santa Clarita’s position within the greater Los Angeles metro area, where the city of Los Angeles offers only 2.1 square feet per capita, may also attract residents seeking more affordable alternatives while still facing competitive inventory levels.

Lincoln, NE, also saw rates climb 7.5% year-over-year to $123. The city sits precisely at the national average of 7 square feet per capita, but steady 3.9% population growth over five years generates consistent demand that absorbs available space. Lincoln’s stable Midwestern economy and role as Nebraska’s capital support both residential and commercial storage needs.

Last but not least, Chicago, IL, recorded a 4.5% annual gain that brought rents to an average of $137. With just 3.5 square feet per capita — half the national average — Chicago’s undersupply persists despite a slight population decline over five years. The city’s vast urban footprint, high apartment density, and limited development space sustain pricing power. Chicago’s position as a major business and logistics hub also drives commercial storage demand independent of residential population trends.

Houston leads 2026 construction pipeline as Sun Belt development dominates

Construction activity in 2026 remains heavily concentrated in Sun Belt markets, with Houston, TX, commanding the largest development pipeline nationwide. The city is scheduled to deliver nearly 1.8 million square feet of new storage space this year, following completion of over 809,000 square feet in recent construction. Houston currently offers 7 square feet per capita — precisely matching the national average — while average monthly rents of $122 sit below the national $133 benchmark. This combination suggests the market can absorb substantial new inventory without triggering significant rate pressure, particularly given Houston’s role as a major business relocation destination and its continued population growth.

Los Angeles, CA, ranks second with approximately 895,000 square feet scheduled for 2026, or 12% of the city’s existing inventory — the highest share among major markets. This aggressive expansion follows completion of nearly 400,000 square feet in recent years. With just 2.1 square feet per capita — less than one-third the national average — Los Angeles faces severe undersupply that sustains rates at $242 per month, nearly double the national average. The planned additions, while substantial, will still leave the city far below adequate provision levels, supporting continued strong pricing.

Just a bit farther east, Las Vegas, NV, is set to add over 708,000 square feet in 2026, accounting for 5% of inventory. That’s impressive, considering that the city has already completed 872,000 square feet recently. The city currently provides an above-average 8 square feet per capita, with average rates of $126 near the national benchmark. The Las Vegas Valley’s sustained construction activity shows that there’s still confidence in the market’s ability to absorb new space, driven by tourism industry employment, steady in-migration, and the region’s popularity with retirees and remote workers.

Jacksonville, FL, also plans to deliver approximately 586,000 square feet this year (6% of inventory), following recent completion of 509,000 square feet. The city offers a very generous 10.1 square feet per capita, yet maintains rates of $131, just below the national level. Jacksonville’s combination of strong population growth, affordable housing market, and business-friendly environment continues to attract development despite already-high inventory levels. The city’s substantial new supply suggests operators anticipate continued demand growth will prevent oversaturation.

Finally, Atlanta, GA, rounds out the top five with nearly 416,000 square feet scheduled for 2026, or 7% of inventory. The city provides a below-average 4.7 square feet per capita, yet offers rates of $146, which is well above the national benchmark. Atlanta’s position as a major Southeast business hub and distribution center generates both residential and commercial storage demand. The planned construction appears calibrated to address undersupply while avoiding the inventory glut that affected the market in previous years.

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	1,777,688	6%	7.0
2	Los Angeles, CA	894,606	12%	2.1
3	Las Vegas, NV	708,087	5%	8.0
4	Jacksonville, FL	586,328	6%	10.1
5	Atlanta, GA	415,852	7%	4.7
6	Phoenix, AZ	360,764	3%	5.6
7	San Diego, CA	317,995	5%	4.2
8	Cape Coral, FL	310,093	15%	8.6
9	Colorado Springs, CO	284,820	4%	11.5
10	Tallahassee, FL	251,023	0%	11.7
11	San Antonio, TX	241,951	1%	9.5
12	Irving, TX	232,832	12%	7.1
13	Sacramento, CA	230,919	4%	5.0
14	El Paso, TX	224,891	5%	6.4
15	Dallas, TX	224,462	2%	5.2
16	Oklahoma City, OK	210,488	3%	9.1
17	McKinney, TX	204,956	7%	8.4
18	Little Rock, AR	198,065	6%	13.3
19	Lubbock, TX	196,377	4%	17.1
20	Irvine, CA	194,780	6%	5.0
21	Philadelphia, PA	194,769	0%	3.4
22	Mesa, AZ	193,481	4%	6.0
23	Peoria, AZ	191,223	10%	4.6
24	Fort Lauderdale, FL	186,174	7%	3.9
25	Fort Wayne, IN	178,714	7%	7.5
26	Newport News, VA	164,602	10%	6.6
27	Rochester, NY	162,045	9%	3.3
28	Orlando, FL	160,650	2%	7.1
29	Tucson, AZ	158,868	2%	9.0
30	Richmond, VA	158,013	4%	5.9
31	North Las Vegas, NV	156,709	6%	4.8
32	Greensboro, NC	156,161	4%	11.2
33	Austin, TX	153,600	2%	8.0
34	Tampa, FL	151,851	2%	7.2
35	Virginia Beach, VA	133,629	2%	11.2
36	Louisville, KY	125,546	2%	7.6
37	Toledo, OH	117,096	7%	4.4
38	Eugene, OR	116,283	7%	7.3
39	Arlington, TX	110,322	3%	6.0
40	Reno, NV	101,531	2%	14.3
41	Indianapolis, IN	98,968	1%	7.1
42	Durham, NC	97,500	3%	9.7
43	Glendale, AZ	97,305	4%	3.1
44	Cleveland, OH	95,188	5%	2.2
45	Nashville, TN	91,556	2%	7.1
46	Gilbert, AZ	91,438	7%	3.9
47	Bakersfield, CA	91,430	2%	10.0
48	Henderson, NV	89,478	3%	6.6
49	Corpus Christi, TX	89,150	2%	11.7
50	Glendale, CA	85,187	11%	2.1
51	Buffalo, NY	82,308	9%	1.7
52	Oxnard, CA	73,552	5%	5.3
53	Knoxville, TN	67,788	1%	10.0
54	Yonkers, NY	66,622	6%	2.1
55	Albuquerque, NM	66,500	1%	7.6
56	Charlotte, NC	66,201	1%	7.4
57	Brownsville, TX	59,277	6%	5.1
58	Chicago, IL	54,471	0%	3.5
59	Portland, OR	52,500	1%	4.5
60	Santa Rosa, CA	50,841	2%	8.3
61	Fresno, CA	50,445	1%	7.0
62	Cincinnati, OH	49,500	1%	4.3
63	Amarillo, TX	36,480	1%	13.9
64	Fayetteville, NC	35,435	1%	12.6
65	Lincoln, NE	33,750	2%	7.0
66	Des Moines, IA	32,832	2%	4.9
67	Seattle, WA	23,737	1%	4.3
68	Aurora, IL	21,195	2%	2.8
69	Norfolk, VA	14,535	1%	5.5
70	Plano, TX	10,925	0%	5.4
71	Fort Worth, TX	7,552	0%	6.6

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

Looking ahead, the market’s sustained stability suggests operators are successfully navigating the industry’s stabilization period. Coastal cities with structural undersupply will likely maintain pricing power, while Sun Belt markets face a critical test of whether population growth and economic expansion can absorb their ambitious construction pipelines without triggering renewed rate pressure.

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 January 2026 data.

The report features the 150 most populous cities that have a self storage inventory of at least 10 units. 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.

For data on population changes, we turned to the U.S. Census (2019–2024 dataset).

Data on self storage street rates, deliveries and 2025 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.