The self-storage industry in the Portland metro area is following a trend that, at first sight, seems rather contradictory. While street rates for self-storage are declining, the proportion of planned and under- construction projects remains one of the highest in the nation.<\/p>\n
New self-storage construction in Portland, expressed as percentage of existing inventory, was consistently over 20% and even close to 30%<\/strong> for much of the time dating back to the spring of 2018, according to data from Yardi Matrix<\/a>.<\/p>\n At a national level, self-storage street rates fell by 2% y-o-y for standard 10×10 non-climate-controlled (NON CC) units, while the rate for 10×10 climate-controlled (CC) units dropped by 3%. Comparatively, Portland rates registered a much harsher decline.<\/p>\n Average self-storage street rates for a standard 10×10 self storage unit in Portland dropped 5% – from $150\u00a0 to $142 – between August 2018 and August 2019. The rates for a standard 5X5 non-climate-controlled unit dropped 8% during the same period.<\/p>\n<\/span>Portland Self-Storage Street Rates Down Year-Over-Year<\/strong><\/span><\/h2>\n