A Quick Guide to Long Term Storage Costs

Whether you’re moving or just saving space in your home, if you’re looking into putting some of your possessions into a storage unit, one of the biggest challenges you’ll likely face is budgeting out how much a unit will cost you. Putting items into long term storage–usually three or more months of storage–brings its own unique set of pricing considerations, and costs can add up quickly if you aren’t prepared for them. Luckily, while long term storage costs might seem complicated or confusing from the outside, we’re here to help demystify them for you.

In this article, we’ll go over some of the average costs of different sizes and features of self storage units, as well as outline some of the “hidden” costs that may come up on your self storage bill. We’ll also provide some tips on saving money throughout the process.

What factors determine storage unit prices?

The most important basic storage unit costs to consider are unit size, unit location, and on- and off-season. Units are usually rented per month, so be sure to consider how long you’ll needstorage space when examining these prices.

Unit size

The larger the storage unit, the more you’ll pay to rent it. Here’s a brief breakdown of what the most common unit sizes cost on average–take a look at our self storage size guide for more information on what can be stored in each of these standard sizes.

Some specialty storage units will be priced differently from this structure. For example, a mini storage unit (typically 5’ x 5’, but half the height of a small unit) will cost less than a full-height storage unit of the same size. On the opposite end of the spectrum, renting an entire storage warehouse will cost much more than a single large storage unit.

Unit location

Self storage units in high-traffic urban areas will usually cost more to rent than those in smaller cities, towns, or rural areas. If the storage you’re looking into is located in or near a major city, you can expect to pay up to $75/month more than you would for a unit in a smaller town.

On- and off-season

The demand for long term self storage tends to go up during the summer (the most popular time of year for moving) and go down during the winter, and unit prices rise and fall during these seasons as well. Higher demand means prices will be at their highest during the warmer months, so expect lower prices and discounts in colder seasons as self storage companies try to drive demand back up.

What else contributes to long term storage costs?

Depending on your specific needs, the cost of long-term storage can fluctuate from unit to unit. Here are several of the most important details to look at when budgeting.

Specialized vehicle storage

Storage spaces built specifically to store vehicles can follow different pricing structures than standard units. While prices for indoor vehicle storage will vary based on size as mentioned above, you can also opt for outdoor vehicle storage in a secure parking lot if you don’t require a fully contained unit. Covered and uncovered outdoor vehicle storage costs less as a whole than climate-controlled indoor vehicle storage.

Indoor vs. outdoor

Some self storage units are completely housed inside a building, while others have entrances that can be accessed from outdoors. Indoor units tend to cost more than outdoor units thanks to their increased security and potential for climate control.

Climate control

There are many benefits to using a climate-controlled unit for your storage needs, but you can expect to pay 10% to 20% more for temperature and humidity control. Investing in this option will ensure your valuables and important possessions won’t come out of storage with oxidation or temperature damage, like rust, saving you money in the long run.

24-hour access

Most storage companies only allow access to their units while their facilities are open, but some companies allow customers to access their units even while the office is closed. 24-hour storage units typically cost more than options without extended access, as they require increased security and control.

Security

Most storage companies have, at the very least, gated access and locked units. However, additional security features can range from security cameras to motion sensors to electronic locks. Indoor storage tends to cost more thanks to some of these additional features, and you can expect to pay more for increased peace of mind.

Long term lease pricing

Long term storage can usually only be rented on a month-to-month basis, especially if you aren’t sure up front how long you’re going to need the unit; the COVID-19 pandemic drove many storage companies away from long term up-front contracts. However, with companies that offer longer term commitments upfront, fees will be much lower if you commit to a longer lease upon your initial payment, potentially saving you money in the long run.

Full service vs. self-service

Companies that handle packing, moving, and storing for you will always cost more than units where you handle the storage yourself. However, these companies are rare, and it’s much easier to find self storage units near you and in your budget than full-service storage.

What surprising or “hidden” costs can come up when pricing out long term storage?

While most costs are included in average storage unit prices, some costs can spring up through all parts of the rental process. Keep an eye out for the following in order to have a more accurate picture of how much your long term storage costs.

• Administrative and setup fees: One-time fees paid up front when you first begin your self storage rental period.
• Security deposits: A collateral payment you make on the start of your rental to ensure you follow the terms and conditions of the storage unit. You’ll receive this payment back after you’re finished renting as long as you don’t break any of those terms.
• Insurance costs: Required coverage paid per month to ensure your belongings are secure and to reimburse you if those belongings are lost or damaged.
• Late payment penalties: Extra fees are owed if you do not pay your monthly rental cost on time.
• 24/7 access premiums: Extra costs you must pay for some storage companies to ensure you can access your units even outside of their regular opening hours.

How can I save money on long term storage costs?

As you’ve seen, the various costs and prices associated with self storage can add up. However, there are plenty of ways to make sure you can find an affordable storage unit near you and minimize its impact on your budget.

Compare prices

You should always start your self storage shopping trip by using a storage search tool, such as Storage.com’s search function, to find units near you and directly compare prices and quotes. The best tools allow you to filter your search by location, features and needs, making it simple to see the costs of small local and major storage solutions in one place.

Find first-month-free deals

If you commit to a storage unit for a longer period, many companies will waive the first month’s rent. Be sure to research different storage solutions and find discounts wherever you can before making a commitment.

Properly organize your belongings

With efficient packing and space saving, you can minimize the space required to store your possessions and potentially save money by using a smaller unit. Following the best practices to pack for self storage will be crucial when deciding how many units you need and what size you should rent.

Rent during colder seasons

As mentioned above, the demand for self storage units is much higher in the summer months, and many companies will offer discounts or promotional pricing to encourage more customers to rent during colder weather. Take advantage of this pricing if possible to further maximize your budget.

Identify other discounts

Other promotional pricing can be found at some storage units, such as discounts for military personnel, healthcare professionals, and first responders. Be sure you look into every possible discount to get the best deals on long term storage.

Conclusion

Long term storage costs can add up quickly when you consider every factor you might be paying for, but there are plenty of ways to save and find affordable storage units. By now, you’ve seen many of the pricing concerns you might have when budgeting out your long term self storage, and you should be well equipped to handle yourself while researching your options.

When you’re ready to dive deeper into comparing storage unit prices, go to Storage.com’s search tool to find solutions that fit your budget and needs. There are plenty more resources on our blog to help you orient yourself while seeking out storage as well!