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.

10x10 Storage Unit vs. One-Bedroom Apartment

CityApartment Rent Per Sq. Ft. (monthly)Storage Unit Rent Per Sq. Ft. (monthly)Difference Per Sq. Ft. (monthly)Difference Over 100 Sq. Ft. (monthly)Savings Over 12 Months (by renting storage)
Atlanta$1.75$1.62$0.13$13$156
Boston$3.93$1.70$2.23$223$2,676
Chicago$2.93$1.48$1.45$145$1,740
Houston$2.29$1.35$0.94$94$1,128
Los Angeles$3.53$2.44$1.09$109$1,308
Miami$2.23$1.68$0.55$55$660
Minneapolis$1.93$1.61$0.32$32$384
New York City$3.88$2.66$1.22$122$1,464
Philadelphia$2.53$1.31$1.22$122$1,464
Seattle$2.89$1.92$0.97$97$1,164

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.

10x10 Storage Unit Vs. Two-Bedroom Apartment

CityApartment Rent Per Sq. Ft. (monthly)Storage Unit Rent Per Sq. Ft. (monthly)Difference Per Sq. Ft. (monthly)Difference Over 100 Sq. Ft. (monthly)Savings Over 12 Months (by renting storage)
Atlanta$1.51$1.62-$0.11-$11-$132
Boston$3.25$1.70$1.55$155$1,860
Chicago$2.67$1.48$1.19$119$1,428
Houston$2.05$1.35$0.70$70$840
Los Angeles$2.79$2.44$0.35$35$420
Miami$1.99$1.68$0.31$31$372
Minneapolis$1.76$1.61$0.15$15$180
New York City$3.26$2.66$0.60$60$720
Philadelphia$2.32$1.31$1.01$101$1,212
Seattle$2.51$1.92$0.59$59$708

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.

  • http://supercheapselfstorage.com.au/facilities/sydney/newcastle/ NathanDavidson

    I personally don’t think that there is very much of an issue with storage versus living spaces these days. There are so many options for dual-purpose furniture or external storage suppliers that people are spoilt for choice if they want to own more things while keeping their homes stylish and neat!

  • Daniel Martin

    Yes, again it depends on your needs, in Australia 2 Bedroom storage unit’s rent is $250 to $280 (3.0M X 3.0M X 2.9M (H)) which may be low compared to Apartment rent. You can check the unit wise details here https://www.hillsselfstorage.com.au

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    better spent elsewhere. What’s important is that you consider all the
    pros and cons of renting a unit before you make your decision. Visit: https://www.selfstoragecentersofamerica.com/

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