By Aaron Mackel, Storage.com
Looking to save money on apartment rent? Not many people would consider renting a storage unit as a way to cut apartment costs, but if you hypothetically swapped 100 square feet of apartment space for storage space, you could actually save big!
Below, we’ve compared the average monthly apartment rent per square foot (for both one-bedroom and two-bedroom apartments) and the average monthly storage unit rent per square foot in ten major U.S. markets.
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Interesting takeaways:
- In seven cities, renting a storage unit could save renters more than $1,000 over the course of a year.
- Boston has the biggest difference between the cost of rental space vs. storage space by far.
- Atlanta’s affordable rental market results in the lowest savings by using self storage.
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Interesting takeaways:
- A two-bedroom apartment in Atlanta is the only instance when it doesn’t save to rent storage space.
- Even with the lower price per square foot of a two-bedroom apartment, you can still save more than $1,000 a year by using storage in three cities.
So if you’re looking at apartments that have enough space for summer/winter clothes, a bike, golf clubs, holiday decorations, or other items that don’t need to be with you at all times, putting those things in storage and renting smaller could be a more cost-effective solution. Or if you’re considering upgrading to a larger apartment because your child outgrew a bunch of clothes, toys, and furniture that you don’t know what to do with, you could save a significant amount by staying put and putting those things into storage for future children.
Interested in seeing if storage can help you save? View storage units near you on Storage.com today.
Apartment rental data is from U.S. News Money.
