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8 Apr, 2025
Analysis | Latest
EXR Rates Show Signs of Stabilizing
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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It has certainly been a difficult past 12 months in the Self Storage industry. A combination of overbuilding and a frozen housing market has kept rates low. However, it seems like we’ve hit the bottom.

Extra Space Storage, the largest operator of Self Storage assets in the country right now has led the ECRI strategy of keeping rates low to drive occupancy.

EXRs price per square ft in March 2024 was $1.13 this price dropped to $1.08 in March 2025, only a 4.6% decrease.

Seeing the visual of EXRs price per square foot for 10×10 CC units in the top 25 markets illustrates how it seems like rates have bottomed out and are starting to creep back up. Hoping we can expect a strong summer lease up this year!

EXR Rates