Are you in the middle of a cross-country move, downsizing to a smaller residence, or need a place to store your kid’s belongings while they’re away at college? Whatever the case, a storage unit can help you declutter without having to toss items you may use in the future.
But what if you rue the idea of shelling out lots of cash each month to keep a storage unit? Fortunately, storage rentals are priced more affordably than many people realize. With that in mind, let’s take a closer look at what you should budget for this convenient service.
How Much Do Storage Rentals Cost?
According to Neighbor.com, people pay on average $88.85 per month for a storage unit. Approximately 9.4 percent of American households have at least one unit. Of course, large units may run customers much more, so you’ll want to select the right size for your belongings.
In recent years, surges in self-storage construction have swept the nation. There are +50,000 units in the country, with the vast majority in Texas. (Rhode Island has the fewest.)
Facility occupancy at these sites sits at 92 percent. That means finding a place to put your stuff may require rolling up your sleeves and doing some serious internet research to locate vacant storage rentals.
Factors Impacting Rental Storage Unit Prices
How do storage unit companies derive their prices? It depends on a variety of factors, including:
When it comes to features, the number one consideration is whether you’ll opt for a climate-controlled unit. These sophisticated units monitor for variables such as humidity and temperature levels, ensuring belongings don’t get damaged (e.g., photographs, artwork, wood furniture).
Adding this feature to your rental results in a price increase of roughly 20 to 50 percent over a standard unit. But comparison shopping online could yield you much better deals, even for these pricy units.
Because storage unit pricing depends on supply and demand, you also get better deals when unit occupancy proves lower. So, consider facilities that aren’t as busy, and you could see significant savings.
You’ll also want to rent the smallest unit possible. After all, the bigger the unit, the more you’ll pay. That said, companies do vary in terms of their definition of “small, medium, and large” so bear in mind the actual dimensions as you price shop different companies.
Price Comparison Shopping Storage Units
There are also subjective considerations to bear in mind, including where to buy a storage unit. For this reason, we recommend price comparison shopping. By calling around to get quotes, you could save when it comes to rates for storage units. Even a few dollars per month will add up.
As you’re doing research and compiling a list of storage units for rent, don’t forget to consider extra expenses such as insurance, fees, and taxes. These can easily cost more than $50 a month but won’t get added to the quote you receive.
Are you interested in more like hacks to help you consolidate your stuff and declutter? We’ve got you. Browse our blog for more handy tips and tricks.