Storage 101: Pricing of Self Storage

Next up in our Storage 101 series, we would like to talk a little bit about how much it costs to rent a storage unit. Now, unless we know exactly where you live and what kind of unit you want—whether you need a small Denver storage unit to hold your athletic supplies or a Houston storage facility near your home and work—it is impossible to quote exact prices. Just as real estate costs vary from place to place, so too will your storage facility charge varying amounts.

And it is not just location that plays a role. You also have to figure in the age, quality, size, length of rental time and security of your self storage facility. Higher end facilities will typically cost more but provide superior services. A conveniently located but not new facility might be more affordable in the long run.

Here are just a few of the factors that will influence cost—and what you can do to save money on your self storage unit

Storage Unit Size

When determining how much a storage unit will cost, the most important storage unit price consideration will be size. The next most important factor will the marketplace where your facility is located. Urban storage units, for example, are much more expensive than those in a small town. The average 10×20 storage unit comes in at around $100 a month. Smaller units can go down as low as $40 while larger ones can cost upward of $200 a month. Check the table below for a breakdown of prices for popular sizes in various markets.

5×5 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $20 to $35
• Mid-sized market (pop: 500,000 – 800,000) – $33 to $55
• Large market (pop: 1.5 million and up) – $50 to $85

5×10 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $20 to $35
• Mid-sized market (pop: 500,000 – 800,000) – $33 to $55
• Large market (pop: 1.5 million and up) – $50 to $85

10×10 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $80 to $100
• Mid-sized market (pop: 500,000 – 800,000) – $90 to $120
• Large market (pop: 1.5 million and up) – $140 to $160

10×15 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $100 to $120
• Mid-sized market (pop: 500,000 – 800,000) – $125 to $150
• Large market (pop: 1.5 million and up) – $175 to $200

10×20 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $100 to $150
• Mid-sized market (pop: 500,000 – 800,000) – $175 to $200
• Large market (pop: 1.5 million and up) – $250 to $280

10×30 Storage Unit Prices

• Smaller market (pop: 50,000 – 80,000) – $165 to $175
• Mid-sized market (pop: 500,000 – 800,000) – $200 to $220
• Large market (pop: 1.5 million and up) – $275 to $300

Storage Facility Location:

As is true with any type of real estate, location has a major impact on how much a storage unit costs. The more expensive the city, the more expensive self storage is. Also within a city, the more desirable of an area you’re looking to store in, the more renting a storage unit will cost. The image below gives a great example of how much more storage can cost based on location within a city. Self storage in the downtown area costs significantly more than some options just outside of it.

Climate Control

If you’re in an area with extreme heat, cold, or humidity, you might be looking at climate-controlled storage. As you can imagine, storage units with regulated temperatures cost more. Just how much? It will vary a little from market to market, but climate control storage units cost roughly 15% more expensive than non climate-controlled storage units. In most cases the additional cost is worth it, though. Paying a bit more for storage will make sure your important belongings are not damaged during their time in storage.

Structure Type

There are two main types of storage facilities: indoor and outdoor. Outdoor structures function much like household garages, in that each unit has a separate door accessible from the outside. Indoor structures tend to look more like apartment buildings, offering one main entry to the facility and then separate doors for each unit.

Expect indoor units to be more expensive—oftentimes up to 50 percent more than outdoor structures. How much interior storage units cost can vary based on access within the building. If you want easy access, first or ground floor access is a bit more expensive. If you’re looking to save a little money, see if an upper-level storage unit is available.

Security

Security is a real factor when it comes to self-storage. Although you should always rent from a facility with at least some security in place (video cameras and keypad entry), you can take things one step further by looking for sites with 24-hour security guards. The more secure the facility (and the better your storage lock), the more you will pay.

Rental Agreement

Of course, one of the lesser known self storage unit factors is what is contained within your rental agreement. Renting a storage unit for a shorter six months is going to cost more per month than one rented for years at a time. Payments up front can also provide a fairly hefty discount (and save you the trouble of remembering to pay). If you really want to save money on renting a storage unit, we recommend you talk with the facility about possible discounts for advance payment and longer rental terms.

Fortunately, none of these cost factors is set in stone. To save money with self storage, you might also want to consider how to fix things on your end—how to pack your items so that climate issues are not a factor, how to maximize space and even buying a self storage lock on your own.

That is why next up in our Storage 101 series will be making the most out of your space with packing tips and tricks. Hope to see you there!

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