Prices for self storage in New York City and New Jersey often come at a premium. Most single bedroom apartments have a closet large enough to perhaps accommodate a few pairs of shoes at best. So, most people resort to trying to find some form of cheap self-storage for things like holiday decorations, cleaning supplies, extra linens, car supplies, souvenirs, etc.
The choice between storing your items in New York or New Jersey all boils down to where you live. Those living in New York, for instance, may not want to drive a slightly over an hour to fetch a few things out of their self-storage in New Jersey and vice versa.
Affordable Self Storage in New York City?
Most people reading this may already know that finding cheap self-storage in New York is difficult, especially if you compare rates with New Jersey, for instance. However, New Yorkers dealing with a cramped apartment may perhaps be willing to store items they rarely ever use in a storage facility in New Jersey and save a few bucks each month in the process. A lack of space in big cities like New York and New Jersey has led to a boom in the self-storage industry, which has already reached an estimated 50,000 sites across the US and growing. A third of these facilities are concentrated in Florida, Texas, California, North Carolina, and Ohio.
It all boils down to where you are, the things you want to store, and how willing you are to save money each month! Below we compare average self-storage rental prices in both New York and New Jersey. The objective here is to help you make an educated decision as to where to store your stuff. Generally, you’ll want to store more frequently accessed items in a self-storage facility near your home, while larger items and ones which don’t need to be accessed as often in a cheaper facility in New Jersey.
Self Storage in New York City is More Expensive than New Jersey
A 5×5 Unit in New Jersey will cost you around $37, in New York, you’ll be looking at paying around $60. Right off the bat, it’s evident that self-storage in New York is around 80% more expensive. You will be looking at paying more if you opt for features like climate control, a more swanky and secure setup.
A big reason for self storage in New York City being more expensive is the fact that space is rare and demand is high. Each year this same lack of supply and rising demand raises the prices significantly, which doesn’t just affect rentals but apartments, homes, and other properties.
Another reason for the rising prices of self-storage units is the move by New York to curb the spread of these businesses/buildings. The city wants to strike a healthy balance between demand for storage and the overall needs of the communities for other things like grocery stores, housing, and jobs.
You also need to factor in the fact that New York City is the most undersupplied major metropolitan city in the US as far as self-storage is concerned. On average there are just 3.5 square feet per person as compared with New Jersey’s 7 square feet and the 7.5 square feet nationally.
New Jersey Has A Lot More Supply Than Demand
The prices for self-storage units in New Jersey have dropped slightly over the past couple of years compared to New York, where prices have risen. One reason for this is that unlike the Big Apple self-storage buildings are going up everywhere.
New Jersey’s 8.9 million residents happen to be served with over 744 self-storage facilities with more in the works as we speak. The reason for this is primarily the fact that setting up a self-storage facility is easier in NJ than it is in New York. Rents and purchase prices are lower too, and that saving is passed on to the person renting the space.
Self Storage Rent Per Sq. Ft. in Bergen County
Average Self Storage Rent Per Square Foot in Bergen County
The average rent per square foot is based on research done in Yardi Matrix with several storage facilities in Bergen County Those included in our research are CubeSmart, Extra Space, A Self Storage, Prime, US Storage Centers, Keepers, Access , Life Storage, Safe & Secure Self Storage and Many others within the confines of Bergen County where New Yorker’s travel for services due to the high rates in N.Y.C.
Bergen Country alone is home to over 30 self-storage facilities which range from large corporate chains to smaller businesses run by individuals. Passaic and Essex County have around 20 facilities. Morris County has 15 facilities with a couple of new ones planned.
We then have places like Teaneck, Glen Rock, Wood-Ridge, East Rutherford, and Elmwood Park, all of which have brand new facilities either coming up or already up and running. New facilities are also in the works for Totowa and Belleville as well as numerous other municipalities.
People Want to Store Closer to Home and Businesses
In the past, units would be located in often hard to reach areas or at the end of town. Driving all the way to pull out a few Christmas lights was inconvenient. Plus they resembled garages more than modern self-storage units. Most didn’t have climate control and consisted of a single story. Today, people are used to the fact that the facility is over on the next block, sometimes even next door.
Today’s interior units are more secure, have climate control, and easier to access. Sure exterior units are still available, but demand is dropping rapidly. People prefer to pay extra for features like security cameras, apps, elevators, access codes, etc.
New York’s expensive storage facilities aren’t necessarily better than the ones you find in New Jersey. However, for many New Yorkers, it is the convenience for which some may be willing to pay more. That said if you want climate control, better security and perhaps a cleaner storage facility, the hour-long drive to New Jersey would be worth it.
Anyone who wants a cheap and yet highly secure facility should be able to find what they need in N.J. Even with perks like climate control, surveillance cameras, keycards, and codes, most units cost less in New Jersey than they do in New York with no features. So, for some who want to store their items in a place they know will be safe, NJ is the best choice. The only step left is to comparison shop for the best deal and perhaps find something nearer to you for easy access. In most cases, the difference in price makes up for the time and gas most NYC residents will spend when hauling their stuff to and from New Jersey.