{"id":4013,"date":"2021-01-20T03:05:57","date_gmt":"2021-01-20T11:05:57","guid":{"rendered":"https:\/\/www.storagecafe.com\/blog\/?p=4013"},"modified":"2022-09-16T03:30:21","modified_gmt":"2022-09-16T10:30:21","slug":"how-much-does-self-storage-really-cost-by-state-and-city","status":"publish","type":"post","link":"https:\/\/www.storagecafe.com\/blog\/how-much-does-self-storage-really-cost-by-state-and-city\/","title":{"rendered":"How Much Does Self Storage Really Cost? A Breakdown By States And Cities"},"content":{"rendered":"

The self storage industry continues to expand in the United States, answering customers\u2019 needs for safe and affordable storage space. Yardi Matrix<\/a> data shows that there are currently about 1.4 billion square feet of self storage space in the US, and about 190 million square feet, or around 13%, were built over the last five years alone.<\/p>\n

The demand for storage has increased substantially in recent times, driven by both residential and commercial consumers<\/a>. Many people, including employees that found themselves needing to move their work operations home, as well as companies who had to reorganize their place of business in order to follow social distancing guidelines, turned to self storage to gain extra space.<\/p>\n

One of the biggest draws of self storage is affordability \u2014 keeping items in a storage unit is generally a lot less expensive than getting a bigger home or occupying larger offices to accommodate all storage needs. But how much does a storage unit really cost? We looked at all 50 states and the largest 100 cities to determine the most \u2014 and the least \u2014 expensive areas in terms of self storage.<\/p>\n

Among the US states, Hawaii posts the highest self storage rent with an average street rate of $253 for a 10×10 unit. The state\u2019s rather expensive self storage market is most likely related to its low inventory, which saw very little new construction over the past ten years.<\/p>\n

Hawaii currently has a total inventory of 2.43 million rentable square feet of storage space, or 1.7 square feet per capita, representing an addition of only 109,000 square feet compared to 2010. The demand for self storage, on the other hand, continued to grow, driving rents up from an average of $155 per month in 2016 to $253 in 2020. Hawaii is followed by New York and California, with $174 and $168, respectively.<\/p>\n

At the other end of the spectrum, residents of Oklahoma enjoy the lowest self storage rates, with a monthly average of $68. In Arkansas, self storage rents for $74 on average, and a storage unit in Nebraska rents for $80 a month.<\/p>\n