EXR · 10-Q · 2026Q3 · Full report

Occupancy and Leasing Activity

Extra Space Storage Inc. · 2026-10-30 · Importance 25 · Surprise 32

Extra Space Storage’s same-store portfolio comprised 1,869 stabilized stores. Same-store square-foot occupancy at period-end was 94.0% in the third quarter and nine-month period of 2026, compared with 93.7% in the corresponding 2025 periods; average occupancy was 94.3% for the quarter and 93.7% for the nine months. Average annual rent per occupied square foot, net of discounts and bad debt, rose to $20.21 for the quarter and $19.97 for the nine months, from $19.72 and $19.53, respectively. New-lease average annual rent per square foot was $13.28 for the quarter, down from $13.55, while average discounts declined to 2.1% from 2.5%.

Key facts

• Same-store square-foot occupancy at September 30 was 94.0% in 2026 and 93.7% in 2025; average same-store occupancy for the three months ended September 30 was 94.3% in 2026 and 94.1% in 2025. source
• As of September 30, 2026, approximately 2,567,000 tenants leased units at stores Extra Space Storage owned and/or managed, primarily on month-to-month leases; same-store tenants who vacated had an average stay of approximately 16.8 months. source