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Factors Affecting the Cost of Storage Unit
Kindly note that the average prices given above are for both climate-controlled and regular units that have no climate-control feature. Generally, climate-controlled storage is much costlier than regular units with a 30% to 50% increase.
Many other factors can influence the price of storage units regardless of the location. For instance, a storage facility in an urban area will generally be more costly than one in a rural area.
These other factors must be given serious consideration when looking for a storage unit for rent.
1. Climate Control
Climate-controlled units protect your stored belongings by regulating humidity and air temperature throughout the storing period. Be prepared to pay more than usual to rent a climate-controlled unit because its installation, maintenance, and powering require extra costs.
Although you will be able to save some money by renting a regular storage unit; however, your belongings will be prone to excessive-high humidity and temperatures.
If you are storing durable items for a short period then you have no cause to worry; else, it is recommended to opt for climate-controlled storage units for delicate and valuable items for a longer period of storage.
2. Seasonality
The cost of renting a storage unit from May to September is always high compared to the rest of the year. This is because most Americans relocate to new homes during this period, causing a great rise in demand.
Storage companies during this period also inflate the price for storage units. You will save more money when you rent a storage unit during the off-season than you would do during the peak season.
3. Storage Sizes
The size of storage units is probably the major factor that determines its cost. Larger storage units are generally costlier than smaller units.
But based on per square foot, the cost of larger storage units should be lesser. To calculate the price per sq-ft, multiply the unit’s size (10 by 10 = 100) to determine the overall square footage.
You can then divide your monthly rent by the overall sq-ft. the answer will give you the price per sq-ft, and thus will let you know if you are being over-charged on larger storage units.
4. Special Storage Offers
The storage industry is widely known for its promotions and specials. For instance, some of these companies don’t charge for the first month. Consider these promotions when given the overall price of a storage unit by your storage company.
Make sure you read the terms and conditions of the promotion to know if you are required to make certain commitments, whether small or big. Sometimes, storage facilities will offer discounts to members of a club or professional organization; so, make sure you ask them.
For instance, SpareFoot offers a one-month free storage service for members of AAA and also gives them a gift card worth $20.
5. Insurance Coverage Cost
Kindly note that the cost of insurance is not added to the price of the storage unit. The majority of storage companies ask that you insure your belongings while some may require proof of insurance.
In most cases, your renter’s policy or homeowner’s insurance will provide coverage for your belongings, but not all the time.
Your storage facility can also provide insurance for your belongings at a cost. It will cost about $10 – $12 monthly to purchase a $2,000 coverage. This price can increase up to $30 and provide insurance coverage worth $5,000.
Average Monthly Rate for Storage Insurance
Coverage amount
Cost per month
$1,000 to $4,000
$6 to $12
$5,000 to $10,000
$15 to $18
$10,000 to $15,000
$20 to $25