New York City Self Storage Market Statistics:
Self storage has become crucial for navigating major life events. It can be particularly useful for events such as moving, downsizing and when changes in household composition occur, as well as when engaging in home remodeling projects and organizational endeavors. New York City offers plenty of self storage options to cater to all needs and budgets.
How much does a storage unit cost in New York City, NY?
Currently, the average cost of a 10x10 storage unit in New York City is $250/month, a decrease of 0.8% compared to last year. Nationally, self storage street rates for 10×10 non-climate-controlled units saw a 2.3% year-over-year decrease, registering an average of $127 in March, 2023.
New York City self storage prices by unit size
Besides the standard 10x10 unit, the New York City self storage market includes several other types of units that can vary in terms of size and amenities, and naturally, price.
For instance, a 5x5 self storage unit in New York City rents for $87, while a 5x10 unit would cost $155/month. Average street rates for a 10x20 unit stand at $479/month. Non-climate-controlled units typically come with lower price tags than their climate-controlled counterparts of the same size.
| Unit Size | Avg. Street Rate |
|---|---|
| 5x5 | $87 |
| 5x10 | $155 |
| 10x10 | $250 |
| 10x15 | $366 |
| 10x20 | $479 |
| 10x30 | $621 |
| Unit Size | Avg. Street Rate |
|---|---|
| 5x5 | $83 |
| 5x10 | $152 |
| 10x10 | $256 |
| 10x15 | $383 |
| 10x20 | $504 |
| 10x30 | $673 |
* Average monthly rates for New York City in March 2023.
Average storage unit cost in New York City by neighborhood
Self storage prices can vary depending on location as some neighborhoods might offer more budget-friendly self storage rates than others.
You can find cheap New York City storage units in Windsor Terrace, where the standard self storage unit goes for $118/mo. on average, in Rosebank, where renters pay $164/mo. on average, and in Baychester, where the average street rates hover around $166/mo.
If you’re looking for other great deals, check out self storage listings, and their average street rates, in Eastchester ($168) and Port Ivory - Howland Hook ($172).
Other neighborhoods, on the other hand, come with higher street rates. The most expensive neighborhood in New York City is Red Hook with a monthly average street rate of $510, followed by Soundview.
| # | Neighborhood | Average Street Rate |
|---|---|---|
| 1 | Windsor Terrace | $118 |
| 2 | Rosebank | $164 |
| 3 | Baychester | $166 |
| 4 | Eastchester | $168 |
| 5 | Port Ivory - Howland Hook | $172 |
| 6 | Tremont | $174 |
| 7 | Fairmont - Claremont Village | $179 |
| 8 | Jamaica | $180 |
| 9 | Ridgewood | $186 |
| 10 | University Heights | $189 |
| # | Neighborhood | Average Street Rate |
|---|---|---|
| 1 | Red Hook | $510 |
| 2 | Soundview | $485 |
| 3 | Hunters Point | $466 |
| 4 | Gowanus | $433 |
| 5 | Upper West Side | $410 |
| 6 | Wakefield | $387 |
| 7 | Chelsea | $384 |
| 8 | Rossville | $382 |
| 9 | East Village | $377 |
| 10 | Fort Greene | $351 |
Compare average storage prices in New York City neighborhoods
Want to find the best self storage deals? Browse listings in your preferred New York City neighborhoods and New York City Zip Codes for more details on what’s available and compare rent prices, unit sizes and amenities.
How New York City, NY, Self Storage Compares With Other Cities
How self storage costs in New York City compare to prices in other nearby cities
Check out the table below to see how self storage in New York City compares rent-wise to other places within a 50-mile radius.
| # | City | Average Street Rate |
|---|---|---|
| 1 | New York City, NY | $250 |
| 2 | Bayonne, NJ | $247 |
| 3 | Jersey City, NJ | $224 |
| 4 | West Hempstead, NY | $223 |
| 5 | Port Washington, NY | $221 |
| 6 | Union City, NJ | $218 |
| 7 | Hempstead, NY | $212 |
| 8 | Garden City, NY | $203 |
| 9 | Mount Vernon, NY | $181 |
| 10 | Pelham, NY | $176 |
Average street rates for non-climate-controlled 10x10 units for March 2023.
How self storage costs in New York City compare to rates in other sought-after cities in the US
Check out the table below to see how self storage rent in New York City compares to other popular cities in the US.
| # | City | Average Street Rate |
|---|---|---|
| 1 | New York City, NY | $250 |
| 2 | Phoenix, AZ | $125 |
| 3 | Chicago, IL | $125 |
| 4 | Austin, TX | $120 |
| 5 | Las Vegas, NV | $119 |
| 6 | Dallas, TX | $117 |
| 7 | Tucson, AZ | $116 |
| 8 | San Antonio, TX | $112 |
| 9 | Houston, TX | $97 |
| 10 | Indianapolis, IN | $88 |
Average street rates for non-climate-controlled 10x10 units for March 2023.
Self storage market size in New York City, NY
New York City self storage market statistics
| No. of self storage units | approx. 30,406 |
| No. of self storage facilities | 282 |
| Local self storage inventory (sq. ft.) | 22,403,220 |
| Self storage sq. ft. per capita | 2.4 |
| New self storage facilities set for delivery in 2023 | 9 |
| New self storage supply set for delivery in 2023 (sq. ft.) | 928,516 |
| Average self storage rent in New York City for a standard 10x10 unit | $250 |
New York City self storage construction trends
The self storage sector has maintained an active development pipeline in recent years. In 2022 alone, about 1,025,210 square feet of self storage space came online in New York City, representing 4.6% of the existing inventory. Compared to the year before, self storage inventory in New York City has increased by 4.8%.
Currently, there are 282 self storage facilities and approx. 30,406 storage units in New York City. The local inventory encompasses 22,403,220 square feet of storage space, offering 2.4 square feet per capita.
A total of 928,516 square feet of self storage space is projected for completion in 2023, a decrease of 9.4% compared to last year.
What’s driving demand for self storage?
Quick overview of the New York City housing market
| Total no. of households | 3,250,657 |
| Y-o-y change in no. of households | 2.6% |
| Renter households in New York City | 2,172,861 |
| Homeowner households in New York City | 1,077,796 |
| Households with mortgages in New York City | 617,125 |
| Median number of rooms (all housing units) | 3.9 |
| Average apartment size (sq. ft.) | 703 |
| Average home size (sq. ft.) | 1,589 |
| Average apartment rent | $4,454 |
| Median home value | $668,800 |
| Working from home (% of total working population) | 9.1% |
Self storage for residential clients: key facts and figures about the New York City housing market
Generally associated with life events, the self storage industry is equipped to respond to people with changing housing situations, whether that means moving, downsizing, welcoming a new baby, or embracing multi-generational living. Lifestyle choices are also a demand driver for self storage, including preferences for snowbirding, digital nomading and RV travelling.
Looking at the type of residential customers that the New York City self storage sector serves, it caters to both renters and homeowners, acting as extensions of their homes when living spaces are not big enough for the things people own.
New York City is home to 2,172,861 renters and 1,077,796 homeowners. The average apartment size in New York City is 703 sq. ft. and the average New York City home size is 1,589 sq. ft.
Self storage for business
Alongside the residential sector, self storage responds to needs arising from conducting business. Entrepreneurs and small business owners, including brick-and-mortar retailers, can turn to self storage to store their merchandise all while keeping it accessible.
Legal and medical professionals often turn to self storage as they are generally required to keep hard copies of their records. Realtors and interior designers also find self storage particularly useful for temporarily storing staging furniture. Moreover, blue collar businesses can benefit from storing their heavy equipment and supplies close to their work site.
Self storage interest: How customers search for New York City self storage
Interest for self storage has been growing over the last decade, as Google Trends data shows. We’ve looked at the most popular keyword used in conjunction with New York City self storage-related searches, "self storage", to see the latest trends in consumer search habits. June, July and August are generally the most popular months for self storage searches.
Self storage market trends in cities
Where does our data come from?
All data related to self storage was compiled by StorageCafe, an online self storage search portal featuring more than 25,000 listings across the U.S.
The self storage rental statistics on this page were sourced from our sister company, Yardi Matrix, the industry's most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in the multifamily, student housing, self storage, office and industrial sectors. Yardi Matrix maintains operational profiles for over 30,000 self storage facilities across the U.S.
Average home size data is from PropertyShark, while demographic data is from the latest U.S. Census Bureau release, the 2020 American Community Survey.