Softening demand that is mirroring migration and home sales trends has led to continued negative rent growth for the self storage sector, according to Yardi Matrix's National Self Storage Report for October 2023.
Street rates fell month-over-month in September and year-over-year. That Minneapolis only fell 0.7% month over month made it a top performer.
The report said the decline in monthly asking rates was broad-based across the nation, with same-store street rates per square foot falling month-over-month in the top 31 metros.
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