The self-storage sector became an investor darling in 2021 thanks to strong rent growth and high occupancy rates driven in part by changing consumer trends, and 2022 is on track to be another banner year.

The rate growth for 10×10 non-climate controlled units hit 8.5% last year, according to Yardi Matrix, and while similarly dizzying rates are not likely this year, the firm still predicts strong growth in 2022. National street rates for similar units remained at 6.7% growth in December, while rates for climate controlled units fell to 7.4%.

And though rent growth has moderated, none of the metros Yardi tracks has seen negative street rate growth for either unit type. Rent growth was 5% or more in 22 of the top 30 markets for non-climate controlled units and in 19 of the top markets for climate-controlled units.  Street rates for 10×10 non climate controlled units ticked up $1 to $127 in December, while rates for climate controlled units of the same size decreased by $1 for the third consecutive month to $145.