Budgeting Tips and Prices, where we explore the cost-effective ways of utilizing storage units during your relocation. Moving can be a stressful experience, but with the right planning and budgeting, you can make the process much smoother. 

In this guide, we will provide valuable insights on the prices of storage units in 2023 and offer practical tips to help you save money while ensuring a seamless transition with professional relocation services. So, let's delve into the world of storage units and discover how to manage your budget without compromising quality during your move.

What Will the Cost of Storage Units Be in 2023?

You might be looking online for storage unit prices to find the best deal, whether your space is overflowing or you need a place to store things during a renovation or before you move into a new home.

The average cost for a storage unit is determined by your region and, ultimately, by the size and type of unit you choose to rent. You might need climate-controlled space to store some delicate items.

There is a solution for every storage need, including storing a vehicle. We'll review the basics of renting a storage space in this article:

  • How much it will cost.
  • What features are available.
  • Whether or not climate control is necessary.

What Is a Storage Unit? How Do They Work?

Storage units are empty spaces that you can use to store your items. The sizes range from small 4×5 foot lockers to large 300 square foot units that can fit an entire family's boxes and other items. Storage units are usually part of a group arranged side-by-side, either in an indoor facility or outdoors, and run by a company.

Some units have climate control, while others don't. Some units are on the ground floor for easy access, while others require an elevator. No matter where they are located, all storage units share the same features:

  • Easy access with a sliding door
  • Metal walls and hard floors for a durable, safe storage area
  • Security lockable doors

The majority of storage units are rented monthly. When you sign up, there may be a small fee. We'll review the prices of storage units you will pay to store your items.

AVERAGE STORAGE UNIT COST ESTIMATES*
Average Cost $185
Highest Cost $300
Lowest Cost $75

Storage Unit Costs Breakdown

These prices are averages. The cost of your storage unit will vary depending on what you need. Here's a breakdown of the cost of a storage space:

Storage Unit Costs by Size

The following are the monthly rental costs for storage units based on size.

  • Small units for $75 (5×5 – 5×10 feet)
  • Medium unit for $150 (5×15,10×10,10×15 ft.)
  • Large unit for $300 (10×20, 10×25, 10×30 ft.)

Storage Unit Cost for Climate Control

You can expect to pay at least $25 to $300 monthly for a climate-controlled storage unit. You may need to maintain a specific temperature and humidity level in your storage unit depending on the type of items that you store.

Books, other media, vinyl records, wine, and spirits all need climate control. This type of storage is available from most companies but may not be included in the standard storage plan.

What Factors Affect the Price of Storage Units?

What additional elements could affect the cost of storage units nearby? Yes, other factors can have an impact on local storage unit costs. We'll discuss a few things to remember when you add a storage unit to your monthly budget.

Seasonality or Availability

Like other moving services, storage units are less in demand in the winter, particularly in regions with cold weather.

During this period, you'll find that companies are running specials to attract new customers.

Storage Unit Insurance

Storage companies usually require that customers have an insurance policy to cover the contents of their storage unit. The insurance fees are determined by the total amount of items you store.

You can either buy the policy separately or through your company. The fee is added to your monthly cost.

You may be able to use your existing homeowners' and renters' insurance, but the storage company will require proof of coverage.

Refrain from making assumptions about your insurance coverage. Sign up for an insurance policy that offers the best reimbursement in case of theft, vandalism, fire, or flood.

Insurance policies do not always cover natural disasters. If you plan to rent storage space in an area prone to harsh weather, choose a policy offering adequate coverage.

Taxes and Fees

Taxes and fees will be added to renting a storage unit. Taxes are based on your local rate, but fees may vary. Some companies charge an extra fee for administrative setup (which could include automatic payments) or insurance.

You may or may have yet to be informed of these additional charges in the online estimate you receive from the company. Keep this in mind as you budget for your storage unit. Paying your monthly storage rent late will result in a charge from the company.

Pros of Storage Units

Storage units have many benefits, including:

  • Reduce clutter and store items securely in your home.
  • Additional services such as climate control, dollies, and moving supplies
  • It is possible to get good deals on a storage unit.

Cons of Storage Units

Storage units have some drawbacks. Consider the following if you are unsure if renting storage is for you:

  • Loss of goods can occur if you fail to pay. If you do not pay, storage unit owners may sell your items in an auction.
  • Searching through all your items can be difficult when you need something stored in a storage unit.
  • Store items that you don't need much and pay monthly for them

Factors that Affect the Cost of a Self-Storage Unit

Size

Storage unit prices vary greatly depending on the size of the unit. In almost every case, the smaller the unit is, the cheaper the price. If you only need a little storage space, some companies have small lockers that measure around 4x5x4 or 80 cubic feet. Some companies have large units to store items from a five-bedroom house.

Location

The cost of storage facilities can vary significantly depending on location. According to the average of several storage unit quotes, a 5×5 foot storage unit can cost between $30 and $75 in Norfolk, Virginia; $70 to 150 in Philadelphia, Pennsylvania; or $100 to $150 in New York City.

Climate Control

If you want a climate-controlled unit, expect to pay between $25 and $50 more monthly.

Choosing the Best Storage Unit for You

Storage units are available in various sizes, prices, and locations. Consider your storage needs to find the right unit for you. When choosing a storage space, you should consider the following factors.

  • Are you looking for a location close to home or a specific destination?
  • How much will you store? How long will you be storing your stuff? How long will you keep your items? Will you rotate your storage (i.e.
  • How will you store your items? You may need a storage trolley or a team to help you move the items. A ground-level unit may be the best option for you.

Storage Unit Companies and Costs

Are you looking for storage? We've included some information to help you start your search for storage units.

Public Storage

Public Storage's main focus is on flexibility. Public Storage offers seven standard unit sizes and three options for vehicle storage, including one large enough to accommodate a boat or RV. Public Storage has a lot of locations across the U.S., allows you to access your items at any time, and boasts several positive customer reviews.

Extra Space Storage

Extra Space Storage customers don't only get the exact size storage unit they need. The company's site is a great resource for moving and storing information. The website offers a wealth of information for Extra Space Storage's customers, from helpful self-storage advice to online payment. Extra Space Storage has many locations across the U.S., offers a fair price structure, and maintains clean, well-lit facilities.

Life Storage

You're bound to find a LifeStorage near you. More than 11,000 locations across the U.S. LifeStorage offers storage units ranging from 5×5 to 20×20 to accommodate even the biggest household items. Need to store vehicles? LifeStorage also offers storage for trucks, cars, and other vehicles. LifeStorage offers customers clean facilities, surveillance cameras, and 24-hour access to their belongings.

Conclusion

Budgeting for storage units requires that you consider several factors, including the size of the unit, its location, and whether or not it needs climate control. Depending on your demands and region, prices may change. However, knowing the storage unit cost will help you plan your budget.

As you start your relocation process, consider working with Karma Movers Based on our market knowledge and experience, we can help you choose the storage unit that best suits your requirements and price range. We are dedicated to making the relocation process as easy as possible.

Contact us now to take the first step toward a smooth, organized move. Our team will handle your storage requirements and ensure your move goes smoothly. Contact us today for a free quote and professional assistance with your move.

FAQs

Why is storage so in demand?

Storage units were in high demand during the Covid-19 epidemic, as homeowners and tenants saw the need to make space for a home office.

What is the most common storage unit size available?

Most Americans choose a storage unit that is 10×10 feet in size. This unit offers 100 square feet, enough space to store items from a 2-bedroom house.