How Much Does a Storage Unit Cost?

Storage units are a great option for homeowners who are running out of space or need a place to keep their belongings during a move. But how much does a storage unit cost? Surprisingly, this is a difficult question to answer because there is no average price for a storage unit. Renting one can mean paying anywhere from a few bucks to hundreds of dollars every month. The huge range in pricing is the result of a large number of factors that determine how much you’ll pay for a storage space, such as:

Size

Few things affect the cost of a storage unit more than its size. The smallest storage unit in any facility is typically 5x5 feet, though some facilities have lockers as small as 3x4 feet. Renting a locker might only cost $10-$20 per month. The largest units, on the other hand, are big enough to fit a full-sized RV and will likely cost several hundred dollars a month. But while large units are more expensive, the people who rent them normally pay less per square foot than they would if they rented a smaller one.

Unit Type

Standard storage units are not climate controlled. Renting a climate-controlled space is more expensive, but essential for anyone storing delicate items, such as books, artwork, clothing, musical instruments, electronics, and wooden or leather furniture.

Seasonality

Storage units are in far greater demand during moving season (May-September) than any other time of year. As a result, anyone renting a storage unit over the summer should be prepared for higher prices. Anyone searching for a more affordable solution should consider renting a unit during winter, when demand is lowest.

Insurance

Every storage facility requires renters to purchase insurance. Depending on the terms of your renters or homeowners policy, any belongings you have in storage may already be covered. If not, you’ll have to buy a protection plan. Most storage facilities offer plans, but you may get a better rate if you buy coverage through a third party instead. Some renters may need to purchase specific types of protection (flood, earthquake, etc.) unique to their area, which can be more expensive. Insuring high-value items, such as vehicles, artwork, or vintage antiques will raise the cost as well.

Taxes & Fees

Most states and municipalities charge taxes for storage services. How much you have to pay depends on where you live. Taxes are relatively high in New Jersey, but low or nonexistent in places like Texas and South Dakota. Storage companies also charge fees for various types of services, such as security or administrative set-up. You can decline some of these options, but others, like a night watchman for example, may be non-negotiable.

Location

Storage unit costs vary significantly between states, mostly due to demand and availability. Storage units in Hawaii are the most expensive, while those in Oklahoma are the least expensive. However, if demand grows in Oklahoma or if more units are added in Hawaii, their relative costs could change over time.

Full-Service vs. Self-Service

There are two primary types of storage facilities. Self-storage facilities are the most popular and the most common. Choosing a self-storage facility entitles you to a unit, but nothing more. You're responsible for transporting your belongings to the facility and moving them into storage.

Full-service facilities, on the other hand, handle everything for you. They pick up your belongings, take them to the warehouse, and deliver them back to your door whenever you need them. Hiring a full-service storage company is significantly more convenient, but it can cost significantly more as well.

Many moving companies also offer a third type of storage service, which allows you to move out of your old home and temporarily secure your possessions if your new house isn't ready to occupy. The movers pick up your belongings and store them until you’re ready to transfer them into your new home. Some even crate them, providing an extra layer of protection for valuable items.

Contract Length

Some storage units rent month-to-month, while others have a minimum contract length (e.g. 3-6 months). Like most leases, long-term storage contracts are more stable than month-to-month agreements. Rates are locked in, while month-to-month renters may see their rates go up suddenly with little to no warning. Some long-term contracts require you to pay up front, while others allow you to pay as you go.

Availability

Storage unit prices are driven by supply and demand. The fewer units there are, the more they cost. To get the best price, call around to several different facilities in your area. It could be that choosing one a little further out will save you a lot of money in the long run.

Indoor vs. Outdoor

Choosing an outdoor storage facility generally provides faster access to your belongings. However, choosing an indoor storage facility provides greater security and climate control, which is why indoor facilities are usually more expensive than outdoor ones. If you have to store a car, boat, or other vehicle, an outdoor facility is your only option.

Full Service Moving and Storage

Allied does more than haul your household goods. We can pack, deliver, and store your belongings until you need access to them. We offer short-term and long-term storage solutions for households and businesses, with flexible moving and storage options. Let us help you create a plan with the flexibility and pricing to meet your needs. Contact us today for a free quote!