Storage Unit Prices Hit a Five-Year Low

Earlier this year, the average monthly rental cost for a 10 ft x 10 ft storage unit was $74.98 – the lowest it’s been in five years, according to SpareFoot. 

In Pennsylvania, the average storage unit cost per square foot is $0.83, which is significantly lower than many other states, including neighbors New York ($1.30), New Jersey ($0.99) and Maryland ($0.90).  

After surveying over 1,000 Americans, SpareFoot found that 83% have rented or are currently renting a storage unit, and 82% have been surprised when looking into pricing. On average, respondents believed $84 per month for a 10×10 unit was a fair price, with Gen Z willing to pay more ($98) and Gen X less ($78). 

The top factors that respondents reported considering when choosing storage were: 

1. Monthly price (55%) 
2. Security features (35%) 
3. 24/7 access (31%) 
4. Location/proximity (29%) 
5. Flexible lease terms (19%) 
6. Climate control (19%) (tie) 

Both homeowners and renters can benefit from lower storage unit prices, as renting an affordable unit offers a space-saving, clutter-reducing solution to having too many belongings to fit in one home. Storage units can also help people stay flexible during moves or life changes.