How Much Does Storage Unit Rental Cost?

Last Updated on February 21, 2024
Written by CPA Alec Pow | Content Reviewed by CFA Alexander Popinker

Renting a storage unit can be an affordable and convenient way to safely store your belongings. But how much does it actually cost to rent a storage unit? In this comprehensive guide, we’ll break down the average costs and what impacts pricing so you can find the best storage solution to fit your needs and budget.

How Much Does Storage Unit Rental Cost?

The average monthly cost of a storage unit ranges from $40 to $400, depending on the unit size, features, and location. Smaller units of 5×5 or 5×10 generally cost between $40-$100 per month.

Medium 10×10 units average $80-$250 per month, while large 10×20 units cost $150-$400 on average. Climate-controlled units also come at a premium. However, many factors impact the exact rental price.

According to Move.org, the average cost to rent a storage unit is about $180 per month, but prices vary depending on size and availability.

They also say that a smaller unit may cost only around $70 per month, while a larger unit could set you back nearly $300.

The average price for a 10 x 20 ft. storage unit is approximately $280.

SelfStorage.com offers a search tool to find the cheapest self-storage units near you.

RentCafe lists units from storage unit companies in Florida with rents starting at $5.

SpareFoot provides a search tool to find cheap storage units near Tampa, Florida, with prices starting at $16 for a 5 x 5 unit.

The overall average price of a self storage unit in Tampa is $93.25, but prices can vary depending on the time of year and storage unit size.

Why Rent a Storage Unit?

Self-storage units provide secure space to store valuables, furniture, equipment, documents, and more. They offer an affordable, flexible alternative to renting a larger home or garage space. Storage units are locked and many facilities have 24/7 security cameras and coded gate access.

Storage units come in handy when:

• Downsizing to a smaller home
• Renovating your house
• Keeping personal belongings safe during a move
• Storing off-season recreational vehicles or sports equipment
• Running a small business from home

Factors That Determine Storage Unit Rental Costs

Several key factors determine the monthly rental rates for storage units. Here are the main considerations:

Location

Like with real estate, location matters when it comes to storage unit pricing. Units in major metro areas and dense urban locations command higher rents. Expect to pay more for storage in places like New York City or San Francisco versus rural towns.

Unit Size

Unit size directly impacts the monthly rent. Larger units that offer more square footage for storing items cost more per month than smaller units. Typical storage unit sizes range from 5×5 feet up to 10×30 feet. A 10×10 unit rents for 40-60% more than a 5×10 unit.

Climate Control

Climate-controlled units protect your belongings from temperature and humidity fluctuations. This added convenience comes at a premium. Expect to pay 20-50% more for climate-controlled storage versus a standard unit.

Security Features

Look for facilities with secure perimeter fencing, individual door alarms, security cameras, and coded entry gates. These security features justify slightly higher rental rates.

Accessibility

24/7 access to the storage facility is standard. However, some units charge extra fees for after-hours access. Make sure to ask about access hours when comparing rental costs.

Comparing Different Storage Unit Types

Storage facilities offer standard and climate-controlled units in a range of sizes. Here’s an overview of the rental cost ranges for different unit types, depending on the size of the units and their features:

• Standard 5×5 storage space – $40-$70 per month
• Standard 5×10 units – $60-$100 per month
• Standard 10×10 units – $80-$150 per month
• Standard 10×15 units – $130-$230 per month
• Standard 10×20 units – $150-$300 per month
• Climate-controlled 5×5 units – $50-$85 per month
• Climate-controlled 5×10 units – $70-$120 per month
• Climate-controlled 10×10 units – $100-$180 per month
• Climate-controlled 10×15 units – $150-$250 per month
• Climate-controlled 10×20 units – $180-$350 per month

As you can see, the larger the unit and the more climate controls, the higher the price. Climate-controlled storage units are about 20-50% more than the standard rental rates.

Tips for Finding Affordable Storage Units

Follow these expert tips to keep your storage rental costs low:

• Opt for an outdoor unit to save money over indoor units
• Look just outside city centers for lower prices
• Compare prices across multiple facilities
• Ask about any move-in specials or discounts
• Rent for longer terms to get the lowest monthly rates
• Get the smallest unit that fits your needs
• Split costs with a friend if storing shared items

Also consider renting a storage unit during the off-peak season when prices are often lower. Avoid summer when rental demand peaks.

You might also like our articles about the cost to rent a UPS Box, an Office trailer, or a camping tent.

Understanding Storage Unit Rental Agreements

When renting a unit, you’ll sign a storage lease agreement that outlines the terms and policies. Here are key things to look for in the contract:

• Length of rental term – Shorter leases may cost more per month
• Rent due date and fees for late payments
• Security deposit – Typically equal to 1 month’s rent
• Minimum/maximum rental period – Often 1 month minimum
• Access hours and policies
• Insurance requirements – You must insure your belongings
• Cancellation policy – 30 days notice is common

The agreement provides clear information on the monthly rental rate, term length, and other costs like fees and deposits. Read the contract carefully before signing.

Additional Storage Unit Costs

Beyond the monthly rental fees, there are a few other costs to factor into your storage unit budget:

• Security deposit – Equal to 1 month’s rent, refundable
• Insurance – Required to cover your stored items
• Admin fees – One-time fee at move-in, around $30-$60
• Late fees – Charged if rent is paid after due date

You’ll also want to budget for a rental truck if needed to transport items to the unit. Some facilities offer truck rentals on-site for convenience.

Finding the Right Storage Solution

With the average cost of storage units ranging from $50 to over $300 per month, it’s important to weigh your options and find the right fit. Consider the unit size needed, climate control preferences, and budget. Take advantage of self-storage discounts and special offers to maximize value. With an understanding of the key factors driving storage unit rental costs, you can rent affordable, secure space for your extra belongings.

Frequently Asked Questions

What is the most rented storage unit size?

The 10×10 is the most popular and rented storage unit size, providing a good balance of space versus price. 10×10 units offer ample room for furniture, appliances, and boxes while remaining affordable for most budgets.

What does a 20 by 10 storage unit look like?

A 20×10 storage unit offers 200 square feet of space. It is a long rectangle, measuring 20 feet deep by 10 feet wide. This average storage unit can comfortably fit 1-2 rooms worth of furniture, such as beds, couches, tables, TVs, and other medium-sized items. The 20×10 size works well for storing furnishings from a 1-bedroom apartment.

Is a 5×10 storage unit big enough?

A 5×10 is a small to mid-sized unit, providing 50 square feet of space. This compact unit can hold the contents of a 1-2 room apartment, if furniture is packed efficiently. 5×10 units work best for storing boxes, small furniture like chairs and side tables, and general household items. Look for a 10×10 unit for more room if needing to store bulky furniture or larger items.