Self Storage monthly supply tracker; Jun down -13.4% Y/Y in top REIT markets

Research evidence excerpt

Self Storage monthly supply tracker; Jun down -13.4% Y/Y in top REIT markets

Accessible version

Self Storage REITs

Self Storage monthly supply tracker; Jun

down -13.4% Y/Y in top REIT markets

Industry Overview

Self Storage REIT supply tracker 22 July 2026

In this report, we track Yardi's new construction data to analyze broader supply trends Equity

across the U.S. We examine the top 30 markets where Self-Storage REITs (CUBE, EXR, United States

NSA, & PSA) have significant exposure. The analysis in the report primarily focuses on REITs

two supply metrics: (1) New Supply: This includes self-storage properties under Samir Khanal

construction, expansion, and/or conversions. (2) Planned Supply Pipeline: This Research Analyst

encompasses projects where zoning has been approved and the planning process is BofAS+1 646 855 1497

ongoing with local government. We use this metric to gauge future supply. samir.khanal@bofa.com

Jeffrey Spector

New supply in REIT mkts: 2.7% of NRSF in Jun, -50bp Y/Y ResearchBofAS Analyst

New supply declined by 3.8mn sf or -13.4% Y/Y in Jun. New supply as a percentage of +1 646 855 1363

jeff.spector@bofa.com

existing net rentable square footage (NRSF) is 2.7% in Jun which compares to 2.9% in

Daniel Byun

May and 3.2% from a year ago. Yardi estimates new supply to remain steady at 2.7% by Research Analyst

the end of this year and decline to 2.3% by the end of ’27. The expected decline is BofAS +1 646 855 3195

driven by elevated interest rates, greater construction costs and longer entitlement daniel.byun@bofa.com

processes. Positively, the decline in new supply bodes well for the sector over the next REITs Team

12-18 mos. BofAS

See Team Page for List of Analysts

New supply is highest in Providence, Phoenix & Miami