Self-Storage Market Review | Second Quarter 2026 | Canada

September 2026

Self-Storage Market Review

Canada

Executive Summary

Canadian self-storage pricing strengthened through the second quarter. National advertised walk-in rates for non-climate-controlled (NCC) benchmark units averaged $2.62 per square foot, up 6.4% from the first quarter and 1.1% on 2Q 2025. That was the highest quarterly level since tracking began in 2022.

The seasonal pattern matched the United States, where walk-in rates also rose 6.4% from 1Q to 2Q. However, the year-over-year outcome differed: Canadian pricing finished up 1.1%, while U.S. pricing was down 1.7%. Because each market uses its own benchmark basket and currency, the results are not directly comparable.

Results were not uniform. Among Canada’s seven largest provincial markets, together 96% of national self-storage inventory, five recorded year-over-year increases and two declined. Ontario advanced 4.1% while British Columbia, the weakest large market, fell 4.8%. Smaller markets posted wider swings on much thinner samples and should be read with caution.

2Q Market Signals
+6.4%
Walk-In Rate, QOQ
Highest quarterly average since 2022
+1.1%
Walk-In Rate, YOY
Third straight quarter under 2%
5 of 7
Large markets up
Seven largest markets
6.8%
pipeline / existing inventory
117 active projects

Development is concentrated geographically and remains weighted toward pre-construction stages. StorTrack identifies 117 active projects totaling 8.03 million net rentable square feet (NRSF), equal to roughly 6.8% of existing Canadian self-storage inventory, of which approximately 30% has commenced construction. Ontario alone accounts for 65 of those projects and about 65% of pipeline square footage, equivalent to 9.7% of its existing inventory. British Columbia follows at 8.6%, while Alberta carries 4.8%.

Market fragmentation remains a defining feature of Canadian self-storage. Single-store operators run 56.7% of Canada’s self-storage stores, while large operators run 26.3% and midsize operators 16.9%. That fragmentation persists alongside continued institutional acquisition and development activity.

Public-operator results also varied. StorageVault Canada delivered the stronger quarter, with same-store revenue up 3.9% and same-store net operating income (NOI) up 5.1%, indicating positive operating leverage. SmartStop’s mature Canadian same-store portfolio was essentially flat despite occupancy above 92%, while its Canadian joint venture portfolio performed considerably better. Even with uneven operating results, institutional operators continued to invest.

Canada
at a Glance
3,572
Facilities
Existing self-storage facilities
118.4M
Existing Inventory
Net rentable square feet (NRSF)
3.2
Supply Density
Square feet per capita (SF/capita)
8.03M
Active Development
NRSF across 117 projects

Rate note: Unless otherwise stated, headline Canadian pricing refers to advertised walk-in rates for NCC benchmark units, expressed in Canadian dollars per square foot per month. All dollar amounts are Canadian dollars (CAD) shown with a plain dollar sign; figures reported by SmartStop Self Storage REIT, a U.S.-domiciled company, are stated in U.S. dollars and marked US$. National figures are rentable-square-foot-weighted averages of market rates.

Download the full report to dig into:

Which provinces posted rate gains and which fell behind, and why the national average hides the spread

Where Canada’s 8.03M NRSF development pipeline is concentrated and how much has actually broken ground

What the latest population and GDP data mean for storage demand heading into 2027

How institutional acquisitions are reshaping a market where single-store operators still run 57% of stores

What public operator results reveal about the gap between pricing strength and operating performance

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About StorTrack

StorTrack, a Green Street company, provides market intelligence for the self-storage, RV, and boat storage industries. With coverage of 80,000+ facilities across the U.S. and Canada, and additional coverage spanning the UK, Europe, Australia, and New Zealand, StorTrack gives operators, investors, brokers, lenders, and developers access to the data they need to understand market conditions, track competition, and make informed decisions. StorTrack’s platforms deliver current and historical rate data, supply and development tracking, and transaction intelligence across global markets.

The Voice Behind the Data

Christine Wachsman

Christine Wachsman
Director of Market Analytics

Christine Wachsman is the Director of Market Analytics at StorTrack, leading market intelligence across self-storage and outdoor hospitality. As a former economist and lead analyst, she collaborated with institutional and corporate clients. Today, her market insights drive investment strategy across the commercial real estate  spectrum, including multifamily, office, industrial, and data centers. She has also served as a panelist and committee member with
organizations focused on advancing real estate analytics and has contributed to industry research and publications.