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How Much Does It Cost to Rent a Storage Unit?
By Martha C. White MONEY RESEARCH COLLECTIVE
If you’re moving, downsizing or just tired of tripping over too much stuff, renting a storage unit could be the answer to your space squeeze.
A storage unit can be invaluable for a month or two while you’re transitioning between homes, or as a space for long-term storage of off-season clothes, seasonal sporting equipment and the like. Renting a storage unit may also be handy if you’re undergoing a major renovation or have a household emergency like a flooded basement.
Storage industry options are numerous. In addition to the customary interior storage units, storage solutions include portable units or modular lockers for DIYers. If you want full service, some of the best moving companies offer packing, pick-up and moving services, along with rental of storage space. (There are even specialized storage options if you need to store something unusual like a vehicle, antiques, musical instruments, paperwork or business supplies.)
So how much does a storage unit cost to rent? The cost can vary dramatically, but we break down the factors that determine price, how to estimate what you might pay and the average prices in several different areas of the U.S.
Table of Contents
- What is the average cost to rent a storage unit?
- Average cost to rent storage units across the U.S.
- How to calculate the cost to rent a storage unit?
- What factors affect the cost of renting a storage unit?
- Requirements to rent a storage unit
- How to rent a storage unit
- Rent a storage unit FAQs
- Summary of our guide to storage unit costs
What is the average cost to rent a storage unit?
The answer to the question, “how much does it cost to rent a storage unit?” is more complicated than you might think. A number of factors affect what your storage bill will be. These include:
- The location of the facility
- The size of the storage unit you need to rent
- The length of the rental period
- The availability of space in the facility
- Whether or not you need a climate-controlled space
- If you require 24-hour access to the unit
Convenience factors may also affect the cost. For example, a storage unit that is drive-up accessible, on the first floor or near an elevator, may cost more than one that’s on an upper floor.
Like any real estate, the location of a self-storage unit is a big factor in pricing. As a rule, you can expect to pay more to store your stuff in a densely populated expensive city or neighborhood than in a far-flung suburb or rural area.
Storage unit prices vary considerably. As of mid-2021, the national average price to rent a standard 10×15 storage unit was about $140, according to the 2022 Self-Storage Almanac published by MiniCo Publishing, an information and analytics provider for the self-storage industry. By contrast, the average cost of a unit of the same size that’s climate-controlled is about $190 — which only demonstrates how much a single factor can affect pricing.
The table below shows the exact average monthly costs for units of varying sizes.
| Dimensions | Average monthly cost (standard) | Average monthly cost (climate-controlled) |
| 5×5 | $51.95 | $62.54 |
| 5×10 | $71.83 | $93.85 |
| 10×15 | $140.63 | $192.97 |
Data Source: 2022 Self-Storage Almanac Published by MiniCo Publishing. www.ministoragemessenger.com
The average costs across the U.S. to rent storage units
The cost to rent a storage unit varies widely. The industry is tremendously decentralized, with many mom-and-pop businesses that have only one or a few facilities. Yet there are also a number of larger storage companies that boast one or more facilities in each of many major cities.
Prices range considerably by location, which complicates any universal estimate of the cost to rent a storage unit in any given city.
However, it’s possible to highlight some regional differences: Storage tends to cost more on the coasts and less in the place in between, and especially in the South and Midwest.
According to the 2022 Self-Storage Almanac, the most expensive standard storage (non-climate-controlled) is in the Pacific West region, consisting of California, Oregon and Washington, plus Alaska and Hawaii.
The cheapest standard storage is in the West North Central region of the Midwest, which encompasses the states of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
Here is a look at the average monthly costs in the different regions of the U.S. Costs are as of June 2021.
| Region | Costs for a standard 10×15 unit | Costs for a climate-controlled 10×15 unit |
| Midwest (East North Central) | $119.91 | $185.19 |
| Midwest (West North Central) | $98.99 | $148.19 |
| Northeast (Middle Atlantic) | $197.30 | $289.04 |
| Northeast (New England) | $184.48 | $247.33 |
| South Atlantic (West North Central) | $155.73 | $207.18 |
| South (East South Central) | $137.53 | $183.56 |
| South (West South Central) | $107.80 | $161.31 |
| West (Mountain) | $133.28 | $182.31 |
| West (Pacific) | $211.34 | $271.37 |
Data Source: 2022 Self-Storage Almanac Published by MiniCo Publishing. www.ministoragemessenger.com
How to calculate the cost to rent a storage unit
Once you have a rough idea of average storage unit prices, the other variables we cite in this guide can help you calculate your cost to rent the type of unit and features you need. Expect to pay higher prices if you need a larger unit or want any optional features, like 24-hour access or climate control.
The length of the rental also affects its cost — the longer you’ll commit to a unit, as a rule, the less you’ll pay for it every month. A longer term also means more payments for which a one-time administrative fee and/or security deposit, if they’re charged, can be spread.
You might be able to bring down the cost of a storage unit, then, if you agree to a longer-term contract or are willing to pay for a year upfront. These deals aren’t always advertised, so once you’ve settled on a self-storage facility that meets your needs, it pays to ask if there are any discounts for longer-term storage or prepayment.
Some storage facilities might offer a free first month of storage or a deeply discounted introductory rate. If you’re taking advantage of one of these deals, read the fine print to make sure you know how much you’ll be paying per month once the freebie or promotional pricing expires. Check, too, if you’re obligated to keep the contract for a period of time.
That said, most storage contracts run from month-to-month. However, you might be required to give a 30-day notice if you want to cancel the contract — which is important to keep in mind if you have short-term storage needs.
You can also be charged late fees if you don’t pay on time — although many storage companies let you set up automatic billing with a credit card so you don’t forget. If you leave a mess behind when you vacate the unit, you might get dinged for a cleanup fee.
What factors affect the cost of renting a storage unit?
The cost of renting a storage unit depends on a range of choices you make. These include location, if the unit is climate-controlled, size, type of unit, availability and insurance. We’ll drill down each factor below.
Location
Where the storage unit is located has a significant impact on price, as the data above illustrates. Self-storage units are also more expensive in cities, particularly city centers where population density is higher.
This can create a double whammy for storage-seekers: More expensive real estate and higher taxes prompt homeowners and renters to live in smaller spaces, increasing their need for out-of-home storage. Yet those same forces make it more expensive for storage companies to acquire and maintain their facilities — with the higher costs passed along to their customers.
Climate control
A storage unit that’s climate-controlled has regulated temperature and humidity, so belongings never get too hot, cold or muggy.
Climate-controlled units are invariably located inside a building rather than being freestanding and accessible outside, where the units are exposed to the elements. Such indoor units are more expensive than drive-up storage — that is, those blocks with corrugated metal doors you might see along the side of a highway.
Although any unit, indoors or out, should protect belongings from precipitation, only a climate-controlled unit will regulate temperature and humidity. Those elements can damage some items, especially if stored for a long time.
The likes of musical instruments, artwork and antiques are especially vulnerable to fluctuations in temperature and humidity levels. For these, then, you may especially want to consider a climate-controlled unit.
But you should probably consider climate regulation for long-term storage of boxes of papers or items of furniture, too. Over time, high humidity can degrade paper and seep into furniture, potentially causing documents to crinkle, wood to warp and upholstery to become musty or even moldy.
Size
The size of storage unit you need is an important consideration. As a rule, the larger the unit, the higher the price. A 5×5 storage unit will typically hold the contents of a closet, a 50-square-foot (5×10) unit should hold one room’s worth of furnishings, and a 150-square-foot (10×15) unit should accommodate the contents of three rooms.
Access times and security
Some storage facilities offer 24-7 access and onsite security monitoring or surveillance. If those features are important to you, you might consider adding them to your priorities in a unit — and even pay more, if necessary, for a storage facility that provides them.
Type of storage
The best storage companies for you are, naturally, the ones that accommodate your items at prices you can afford. While a basic storage unit may be suitable for storing typical household items —furniture, household goods, seasonal decor, sporting equipment and so on — a more specialized unit may better suit unusual items.
If you need to store a car or motorcycle, for instance, you might not be permitted to put that vehicle into an ordinary storage unit, and so might need to pay for vehicle storage.
If you only have a small amount of stuff (say, if you are a college student moving for a summer or a semester), you might be able to save money by using a storage locker, which is smaller than a full-sized self-storage unit.
If you need to store antiques, fine wine, art or other goods that could be damaged if exposed to excessive heat, cold or humidity, safeguarding these possessions in climate-controlled storage is smart — although this investment costs more.
Occupancy rates and availability
The popularity of a storage facility can play a role in its pricing. Self-storage facilities with high occupancy rates are more in demand and can charge higher prices as a result. Conversely, facility operators with a lot of space to fill might set lower rates — or at least be more generous with incentives — than those with only a few spare units.
Insurance
Most storage companies require you to have insurance coverage on your personal property, so you also might need to pay for insurance for your belongings. The storage provider might sell its own insurance you can buy. Alternatively, it might refer you to an insurance company with which it has a partnership.
Some renters and homeowners insurance policies will cover your possessions if they are in storage at a facility rather than being kept on your property, but you’ll need to check your policy. Even if your home insurance coverage does include off-site facilities, the coverage limit is likely to be lower on personal property damaged or destroyed at a storage unit versus in your home. Consult with your insurance agent to determine what your policy includes and if you need additional coverage.
Requirements to rent a storage unit
There are a few basic requirements to rent a storage unit, including identification and a binding agreement.
Valid government-issued identification
If you want to rent a self-storage unit, you can expect that you’ll have to provide a form of government-issued identification such as a driver’s license or passport.
A binding storage-unit agreement
While many storage companies will let you get a rental quote online — some with no commitment — you’ll need to sign a binding agreement to actually rent a storage unit.
Read that document carefully. Among other details, the contract will stipulate what items you are not allowed to keep in your unit. Hazardous or illegal materials, weapons, tires, food, money and valuables are generally prohibited. It will also outline other important contractual obligations.
How to rent a storage unit
Renting a storage unit begins with figuring out where you’re prepared to rent. If you’re an urban dweller, that means deciding how far afield you’re willing to go to rent a unit — keeping in mind that a more distant, suburban facility will probably charge less than one that’s in the city proper. Safety may also come into play; the least expensive options may be located in areas that are inexpensive because they’re in areas that are undesirable for reasons that include relatively high crime rates.
Then there’s settling on what size of storage unit you’ll need. As a rough estimate, the contents of one room will fit into a small storage unit of 50 square feet (5×10), and three rooms’ worth of stuff into a medium-sized, 150-square-foot (10×15) unit. The contents of five rooms — roughly a two-bedroom apartment — might require a large storage unit of 250 to 300 square feet (10×25 or 10×30, respectively).
A growing number of storage companies provide online tools that make it easier to calculate the size of the unit you need. You enter the items you need to store, and the tool then yields an estimated calculation of your minimum storage needs. In many cases, that process can be completed online.
Additionally, if you need a storage unit in an unfamiliar city, most larger storage companies will provide you with a quote via email. You provide your email address and a few details about what you want — such as what size storage unit and for how long you plan to rent it. In some cases, you might even be able to provide your credit card and sign up for the rental without even having to close your laptop.
Rent a storage unit FAQs
Do you need good credit to rent a storage unit?
Most storage companies don't conduct credit checks on renters because they generally don't need to. The industry's short-term, month-to-month business model means that issues such as late payments are usually resolved quickly. If you don't pay your rent, the storage company can impose a lien on your account, empty out the unit and sell off your belongings.
While good credit is not necessary to rent a storage unit, failing to pay for your unit could damage your credit. If you fail to pay for your storage unit and the storage company reports that to a credit bureau, your credit score could suffer as a result.
How long can you rent a storage unit?
You can typically rent a storage unit for as long as you want. Contracts are generally month-to-month, but you might be able to get a better price if you know you need it for a year or longer and are willing to pay upfront. If you plan to store stuff for several years, consider a climate-controlled storage unit, which can prevent temperature and humidity fluctuations from damaging your items.
Can you rent a storage unit online?
The pandemic led to many storage providers offering "contactless" or "touch-free" rentals, a transition that greatly expanded the availability of online storage rentals. If you need to store stuff far from where you're currently located, you can go to many storage companies' websites to learn about availability and pricing, pick out your unit and make payments.
How do you know if renting a storage unit is worth it?
Decide whether or not it's worth it to rent a storage unit by considering the benefit you will derive from not having your belongings stored in an overstuffed closet, cluttered garage or musty basement. If you're having trouble fitting storage unit rental into your budget, shop around to find lower rental rates or storage facilities offering deals such as a free first month to make renting a unit more economical.
Summary of our guide to storage unit costs
The price to rent a storage unit is contingent on a number of different variables. The size of your storage unit and where the facility is located both play a big role in the cost.
Additional bells and whistles like 24-7 access, onsite surveillance monitoring and climate-controlled storage cost usually cost extra. If you only have a small amount of stuff to store, you might be able to save money by renting a smaller storage locker instead.
Storage unit contracts are generally on a month to month basis, with no obligation to remain in the unit. However, you may incur a penalty if you do not provide a certain advance notice before you leave the unit.
Conversely, you might be able to save money by pre-paying or signing a longer contract. You can shop online and compare quotes, and a growing number of storage companies will let you rent a storage unit online.
