# Yardi Matrix October 2026 Report: National Advertised Self-Storage Rates Fell 1.8% Year Over Year in September > Slower development is not yet lifting street pricing: September's 1.8% national YoY decline narrows slightly from August's 1.9% but every major metro lost ground month over month, per Yardi Matrix's October bulletin. - URL: https://www.yourcaio.co/news/yardi-matrix-october-2026-advertised-rates-1-8-percent-september-2026 - Published: 2026-10-21 - Author: David Cartolano (https://www.yourcaio.co/about) - Category: Market Trends - Tags: Yardi Matrix, Advertised Rates, September 2026, Top 30 Metros, Supply Pipeline - Source: [Yardi Matrix](https://www.yardimatrix.com/self-storage-national/matrix-self-storage-national-report-october-2026/) ## Key Takeaways - Yardi Matrix's October 19, 2026 Matrix Self Storage National Report states national advertised self-storage rates fell 1.8% year over year in September 2026. - Every one of the top 30 U.S. metros posted month-over-month advertised rate declines in September, per the same bulletin, signaling broad Q4 pricing pressure. - The headline 'Slower supply brings little rate relief' reflects easing development activity that has not yet translated into positive street-rate growth nationally. - September's -1.8% YoY reading compares with -1.9% in August 2026 in Yardi Matrix's prior monthly report, a marginal improvement in the year-over-year trend line but still negative. - The October release arrives as [Storable reported 78.1% national occupancy](https://www.yourcaio.co/news/storable-q3-2026-industry-pulse-retention-october-2026) and longer tenant stays, highlighting a split between occupancy stability and advertised pricing. **Yardi Matrix** reported **October 19, 2026** that U.S. advertised self-storage rates fell **1.8% year over year in September 2026**, and **every top 30 metro posted a month-over-month advertised decline**. National supply growth is slowing, but street pricing is not recovering yet. The October bulletin headline sums the cycle: **"Slower supply brings little rate relief."** That is the macro backdrop for [REIT Q3 earnings the week of October 26](https://www.yourcaio.co/news/big-three-self-storage-reits-q3-2026-earnings-calendar-october-2026) and for [Andover's Pinehurst, Texas, acquisition](https://www.yourcaio.co/news/andover-properties-pinehurst-texas-storage-king-october-2026) the same week. --- ## What Changed Between August and September 2026? Yardi Matrix's [September 2026 report](https://www.yourcaio.co/news/yardi-matrix-september-2026-advertised-rates-1-9-percent-august-2026) pegged **August** advertised rates at **-1.9%** year over year. October's **September** reading is **-1.8%** YoY: still negative, but one tick less severe on an annual basis. | Period (Yardi Matrix) | National YoY advertised rate change | |-----------------------|-------------------------------------| | June 2026 (July report) | -1.5% | | July 2026 (August report) | -1.6% | | August 2026 (September report) | -1.9% | | September 2026 (October report) | -1.8% | The August spike to **-1.9%** was the deepest YoY print in that four-month window. September did not snap back to growth; it merely eased the annual comparison slightly while sequential weakness spread across major markets. --- ## Why Did All Top 30 Metros Decline Month Over Month? Yardi Matrix's October 2026 release is blunt: **all top 30 metros** recorded **month-over-month** advertised rate declines in September. That is a breadth signal. When only a few markets soften, operators can blame local lease-up. When every major metro moves down in the same month, the story is national demand and pricing discipline heading into Q4. Context from adjacent October data: - [BMS Group's fall outlook](https://www.yourcaio.co/news/bms-fall-2026-self-storage-street-rates-supply-outlook-october-2026) cited Yardi Matrix pipeline metrics showing completions slowing but advertised rents still down through August. - [Capright's October REIT update](https://www.yourcaio.co/news/capright-october-2026-reit-occupancy-ecri-street-gap-2026) documented high public occupancy with thin same-store revenue guidance. - [Storable's Q3 Pulse](https://www.yourcaio.co/news/storable-q3-2026-industry-pulse-retention-october-2026) showed **78.1%** national occupancy and **19.0-month** average length of stay. Occupancy can hold while advertised rates fall because operators prioritize retention over empty-unit specials, and because in-place rents still exceed street offers in many markets. --- ## Is the Construction Pipeline Still the Story? Yardi Matrix frames September 2026 as a month where **easing development activity** failed to lift advertised pricing. That matches [BMS's projection of roughly 52.93 million NRSF of 2026 completions](https://www.yourcaio.co/news/bms-fall-2026-self-storage-street-rates-supply-outlook-october-2026), down nearly **19%** from 2025, with **594** projects under construction nationally as of August. The industry is past peak deliveries in many metros, but lease-up inventory and weak housing turnover still cap street rates. [SSA's October rate survey](https://www.yourcaio.co/news/ssa-interest-rate-impact-survey-october-2026) tied muted move volume to mortgage rates above **7%** and refinancing stress on 2021-2022 vintage loans. Supply slowing is necessary for rate recovery. September 2026 data says it is not sufficient on its own. --- ## What Should Operators Do With a -1.8% National Print? **Do not confuse occupancy with pricing power.** If your facility is full but your move-in special is deeper than last year, you are living the Yardi headline. **Watch sequential breadth, not just YoY.** When all top 30 metros decline month over month, local "we are different" stories need hard StorTrack or Yardi submarket proof. **Pair street data with retention metrics.** Storable's **19.0-month** average stay implies revenue growth may come from keeping tenants, not from raising asking rents on vacant units. **Underwrite acquisitions on operating lift.** Buyers like [Andover on SH 249](https://www.yourcaio.co/news/andover-properties-pinehurst-texas-storage-king-october-2026) are explicitly buying lease-up and platform upside because national advertised growth is not doing the work. --- ## The Numbers Worth Writing Down - **-1.8%:** national YoY advertised rate change in September 2026 (Yardi Matrix, October 19, 2026) - **30/30:** top metros with month-over-month advertised declines in September - **-1.9%:** prior month's national YoY reading for August 2026 - **78.1%:** Storable Q3 2026 national occupancy (operator benchmark contrast) - **19.0 months:** Storable Q3 average length of stay - **~19%:** projected drop in 2026 completions vs. 2025 (BMS citing Yardi pipeline data) --- ## Advertised Rates Lag the Supply Fix Yardi Matrix's October 2026 national report confirms the self-storage market entered Q4 with **negative year-over-year advertised pricing** and **universal monthly declines** across major metros. Supply is easing, but the rate line will not inflect until demand accelerates or competitive discounting stops. Public REIT prints will test whether ECRI and move-in rent can outperform street indices. Independents should assume street benchmarks stay defensive through year-end unless their submarket data proves otherwise. --- ## Sources - [Matrix Self Storage National Report – October 2026](https://www.yardimatrix.com/self-storage-national/matrix-self-storage-national-report-october-2026/), Yardi Matrix, October 19, 2026 - [Self Storage National Reports Archive](https://www.yardimatrix.com/self-storage-national/), Yardi Matrix - [Yardi Matrix September 2026 Report (August 2026 rates)](https://www.yourcaio.co/news/yardi-matrix-september-2026-advertised-rates-1-9-percent-august-2026), Your CAIO - [Storable Q3 2026 Industry Pulse](https://www.yourcaio.co/news/storable-q3-2026-industry-pulse-retention-october-2026), Your CAIO - [BMS Fall 2026 Market Outlook](https://www.yourcaio.co/news/bms-fall-2026-self-storage-street-rates-supply-outlook-october-2026), Your CAIO ## Frequently Asked Questions ### How much did U.S. self-storage advertised rates fall in September 2026? Yardi Matrix's October 2026 national report shows advertised rates down 1.8% year over year in September 2026. That is a slight improvement from the 1.9% year-over-year decline Yardi Matrix reported for August 2026 in its September bulletin. ### Did any top 30 metro post positive month-over-month advertised rate growth in September 2026? No. Yardi Matrix states that all top 30 metros posted month-over-month advertised rate declines in September 2026. That uniform monthly weakness is unusual versus prior months when a handful of markets showed sequential gains. ### What does Yardi Matrix mean by slower supply bringing little rate relief? The October 2026 report argues that national development activity is easing, but demand weakness and lingering lease-up inventory still outweigh supply contraction on advertised pricing. Street rates therefore remain negative year over year despite a shrinking pipeline. ### How does September 2026 advertised data compare with operator-reported occupancy? Storable's Q3 2026 Industry Pulse, published October 16, 2026, shows national occupancy flat at 78.1% with longer average stays. Yardi's advertised-rate decline suggests operators are not pushing asking rents higher even as move-outs slow, consistent with a retention-heavy operating environment. ### Where can I read the prior month's Yardi Matrix self-storage rate data? Yardi Matrix's September 2026 national report documented a 1.9% year-over-year advertised rate decline for August 2026. Your CAIO covered that release in a dedicated article linked from this report for month-over-month context. --- Cite as: David Cartolano, "Yardi Matrix October 2026 Report: National Advertised Self-Storage Rates Fell 1.8% Year Over Year in September," YourCAIO.co, 2026-10-21, https://www.yourcaio.co/news/yardi-matrix-october-2026-advertised-rates-1-8-percent-september-2026