What’s the Average Cost of a Storage Unit?

For many people, storage units are a necessary part of life. You may need storage for extra furniture or boxes that don’t fit into your new house, storage for seasonal clothes or decorations, storage for equipment you use at home but not at work, storage for items left by previous tenants in your current apartment, etc.

However, storage units are an expense no one enjoys paying. The cost of the storage space is only the beginning. You also have to pay to transport your belongings there and keep them safe once they’re stored. And if you miss a payment? Expect the price to go up quickly!

So just how much does all this storage unit business cost? 

Storage unit prices have been going up about 3% each year. Over the course of a storage unit’s typical 5-year lifespan, rental costs will increase by about 15%. Therefore, if you’re renting a storage unit for $100/mo now, expect to pay around $115/mo after one year and about $130/mo after two years. And that’s just to keep your items in storage. If you need to access them at any point throughout the month (to get something out or put something back), expect to be charged extra for “access.”

Storage usage is currently on the rise: over 40% of people surveyed said they used self storage in 2013, versus only 38% of people surveyed in 2012. Storage unit renting can cost anywhere from $30/mo (at a storage facility with 5 storage buildings and 50 storage units) to $1,400/mo (at a storage facility with 36 storage buildings and 1,500 storage units). 

Some factors that influence storage costs:

Size of The Storage Unit: Obviously a 10×10 storage unit is going to cost more than a 5×5 storage unit! But even within the same size category, there are different prices. Data from Pods shows small units ranging from as low as $25-$35 per month to as high as $65-$70 per month. Medium units cost around $50-$75 per month, while large storage units cost around $65-$85/mo.

Distance From Storage Facility: If you live across town from your storage unit, your gas bill is going to be quite a bit higher than if you lived next door! Some storage facilities are located centrally enough that this won’t make too much of a difference, but others are significantly more isolated – for example, storage prices in Santa Cruz County, California ranged from as low as $25/mo to as high as $200/mo .

Climate & Potential Damage Due to Climate: It’s not just fire and theft that storage renters have to worry about – weather can play a role in storage too. If you live in an area with harsh weather, you’re going to want a storage unit that locks out the elements. If possible, opt for a storage facility with climate control options and/or outdoor storage space to keep your items safe and dry at all times.

Security Measures: The more security measures a storage facility has, the more expensive it will likely be to rent there. Outdoor storage facilities without fences or locked gates are significantly cheaper than indoor storage spaces protected by security cameras and entry codes.

Additional Features: Some storage facilities not only offer storage units, but also offer other amenities such as carports or offices . These kinds of extras may raise the price of renting storage space.

Age & Condition of Storage Facility: It’s no surprise that storage units at brand-new storage facilities will be more expensive than storage units at older, run-down storage facilities. Look for storage spaces that have been recently renovated with climate control options and outdoor storage if you plan on renting storage for an extended period of time.