04 Mar 2025
With February 2025 behind us, we can take a look at how asking rates compare year over year.
In February 2024, the average price per square foot was $1.15, while in February 2025, it decreased to $1.06, an 8.2% decrease year over year.
While rates are still decreasing year over year, the magnitude of the decrease is softening, keeping me bullish on the summer of 2025, with rates expected to increase as we get into lease-up season this year.
The graph featured below shows asking web rates since 2019 till now for 10x10 CC units in the top 25 markets for REIT facilities.
