Techniques are disclosed for optimizing volume allocation on storage controllers that may have varying degrees of control over directing storage on ranks of pools attached storage components. A performance-based volume allocation algorithm can optimize allocation for such various controllers in a smooth, uniform manner allowing changes from one degree of control to another without incurring costly code changes and re-architecting costs. Where control is not available a surrogate set of possible ranks where the allocation could be made is developed and employed to calculate an adjusted utilization cost. In turn, the adjusted utilization cost is used to calculate a space limit value limited by a target performance threshold.