Self Storage Services NAICS 531130

Jul 23, 2026 - Self-Storage Market Stabilizes in Q2

• Storable reported that self-storage performance improved seasonally in Q2 2026 despite a slow US housing market and limited geographic mobility. National occupancy rose 1.4 percentage points from Q1 to 78.1% and edged up 0.2% year over year, while the average length of stay increased to 19 months. The average 10x10 move-in rate climbed 4.6% from Q1 to $107.15 but remained 1.4% below Q2 2025. Move-ins declined year over year in every region, but fewer move-outs supported occupancy in most markets, indicating that customer retention is offsetting softer relocation demand. The West had the highest occupancy at 80.4%, although it was the only region with a year-over-year decline. The Midwest posted the strongest annual occupancy improvement, while the Midwest and Northeast recorded the largest quarterly gains. Overall, stable occupancy, longer stays, and firmer seasonal pricing suggest the industry remains fundamentally healthy.
• In July, Public Storage completed its $10.5 billion acquisition of National Storage Affiliates Trust, creating a portfolio of more than 4,500 US self-storage facilities with 327 million rentable square feet. The transaction further consolidates the self-storage industry and strengthens Public Storage's scale, market reach, and operating efficiencies. Shareholders of National Storage Affiliates received 0.14 Public Storage shares for each share held. Public Storage expects the deal to generate $110 million to $130 million in annual cost savings and other benefits within three to four years. The acquisition could increase competitive pressure on smaller operators while giving Public Storage greater resources to invest in technology, property improvements, marketing, and customer acquisition.

• Sales of existing US homes decreased by 2.4% in June from May but were up 2.8% year-over-year, according to the National Association of Realtors (NAR). NAR chief economist Lawrence Yun said, "The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions. However, job gains—more than half a million since the beginning of the year—will continue to provide support for the housing market." Home sales are a key demand driver for self-storage services.
• Home builder confidence in the single-family market fell in July as builders remain concerned about housing affordability, higher construction costs, and elevated interest rates, according to the National Association of Home Builders (NAHB). Home builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), dropped two points to 34 in July 2026. Any HMI reading over 50 indicates that more builders see conditions as good than poor. July marked the 15th consecutive month the HMI remained below 40, a level not seen since the housing crisis in 2012. The survey also showed that 36% of builders reduced home prices in July to lure potential buyers off the sidelines, although the average price reduction of 6% remained unchanged from June. While the NAHB noted that the recent enactment of the 21st Century ROAD to Housing Act is a positive step in expanding the US housing supply, it added that more reforms are needed at the state and local levels.