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Some storage seekers are able to find much cheaper rates by looking in nearby communities in addition to their own. That's why those looking for the best deal on a storage unit should expand the area of their search as far and wide as possible. The longer trip to the facility could easily be worth the monthly savings, particularly if you only plan on accessing your unit occassionally. That being said, if we can determine that self-storage (which also goes by mini storage and public storage) prices are lower in Denver than in other nearby cities, we can make it easier for you to decide whether or not to take the time on a wider search.
Denver's average price of $127.58 a month for a unit ranks it as the 6th most expensive city for self-storage in Colorado, which itself ranks as the 17th most expensive state for storage. To give you a better idea of what this means, Denver's average price is $49.75 more than the state average of $77.83.
But average prices don't necessarily tell you how affordable storage is in a given city, as money goes further in some states than it does in others. To give you a better idea of affordability, we've created a 'relative price' scale that estimates how expensive storage is for median income earners in that state. The median income in Colorado is $60,381.00, which means the average storage unit in Denver would require 2.54% of a median earner's monthly income. When compared to storage price as a percent of income in other cities in Colorado, Denver ranks in the 83rd percentile, which means that self-storage here is quite expensive.
If we measure according to the national scale and compare it to cities across the country, self-storage rates in Denver are still very expensive, ranking at the 82nd percentile in terms of relative expense. To put that in more concrete terms, storage in Denver should cost an average of $55.43 more than the national average price of 72.15.
Storage prices often follow real estate trends, which means that certain areas of Denver can be significantly more or less expensive than others. Those trying to find the cheapest storage in Denver would do well by looking at facilities in the 80260 ZIP code, where storage units go for an average of $96.20 a month, the cheapest in all of Denver. Storage is costliest in the 80216 ZIP code, where you should expect to pay about $159.75 a month for a unit.
One of the most prominent factors involved with finding a cheap storage unit is the time of year you go searching for that unit, as storage prices change due to seasonal demand. Storage seasonality is in synch with the moving seasons, which are at their highest in the late spring and summer, as a huge amount of storage demand is generated by people moving into new homes. The high season is considered to be in full swing on National Moving Day, also called 'Crazy Tuesday,' the day after Memorial Day. Those looking for storage in areas with a large population of college students might find that seasonality affects prices on smaller unit sizes in particular, as students book 5x5s and 5x10s to store their things while they go home for the summer.
Prices on self storage in Denver do not vary as widely between high and low seasons as they do on average in other cities, so seasonality should be less of an issue for potential renters here. Despite the low level of seasonality, those looking for a self storage unit may still want to lock in their price at the time of booking. With its average price of $61.36, March is the cheapest month to book storage in Denver. With an average price of $127.58, January is the most expensive month to rent storage in Denver.
It's nearly impossible to know what a good monthly rate on a storage unit is if you don't know what kind of prices to expect in Denver. Past experience booking storage in other cities can be misleading, as average prices will be totally different in other cities--even other cities in CO. In order to prevent you from going into your storage search in the dark, we've had our analysts comb through all the data on Denver storage you might need.
The average rental rate of a self storage unit in Denver is $127.58 a month. If you're considering a longer stay in your storage unit then at that rate you'd be paying approximately $1530.96 per year. Keep in mind that that average rate does not differentiate between the different unit sizes, and so should be taken with a sizeable grain of salt. Units of different square footage can go for hundreds of dollars more or less than others, even in the same storage facility. Self storage in Denver comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. In Denver, the average monthly rental rate for each standard size is:
|Storage Unit Size||Average Price in Denver, CO|
Finding the unit you need at the price you want has everything to do with what's available in your area, with more facilities offering more options. In terms of the number of storage businesses in Denver, are there plenty of options available, or few?
Analysts at SelfStorage.com report that there are an estimated 64 storage facilities located in the Denver area. If you were wondering how that compares to other cities in the state, it's a very high number of facilities for a city: the average city in Colorado offers only 12 storage facilities, 52 less than Denver. It makes sense then that Denver is also the 2nd largest in terms of facilities out of all 30 cities in Colorado listed on our storage network, accounting for approximately 17.73% of self storage facilities listed in that state. Denver also has a large number of facilities for a city on the national scale, with 55 more facilities than the national average of 9.
If we're making comparisons between cities, however, we're missing out on some important insights if we don't factor population in, even if we're simply comparing Denver to the rest of Colorado. Are the 64 facilities in Denver sufficient at supplying the 610,345 people who call it home with enough extra storage space? Cities with populations of 250,000 to 1,000,000 average 49 storage facilities, 15 fewer than Denver's 64, which leads us to conclude that Denver has a decent amount of storage space for a city its size. It is important to note that comparing cities of like size might not be the best measure, and that a more accurate conclusion might be had by looking at how many facilities there are for Denver's 610,345 people--a figure which seems to have undercut our finding that there's plenty of storage to be had there. Denver's 64 self-storage facilities for its 610,345 residents ranks it in the 27th percentile for storage facilities per capita among cities across the country. That low rank means that there isn't as much storage space for each person in Denver as there is in most other cities. Just as Denver offers little storage space per person on a national scale, the same goes when we compare the city to others in its state, where it only ranks in the 34th percentile for facilities per capita.
We can't feel satisfied concluding our look at facilities per capita without mentioning the fact that Denver is seeing some modest population growth. The city saw 9.7% more people move there from 2000-2010. Though that's not insignificant, it is 7.2% less growth than the 16.9% that Colorado in total saw. Keep in mind, though, that while there's probably not as much demand generated by people moving into town as there is in other Colorado cities, Denver already has relatively fewer storage facilities for its size than many of those faster-growing cities.
Attempting to find a suprisingly-low price on a self storage unit in Denver, CO? March offers the lowest prices on storage, while the most inexpensive place to find a unit is the 80260 ZIP code. Try to avoiding looking for storage during January, when units cost the most, and be warned that the 80216 area is the most expensive part of town for storage.
If you’re considering buying/selling a home instead of renting, it’s crucial to find a storage unit that will last you through the purchase or sale process. Especially when, according to Zillow, Denver had an average home value of $349,900 which in the past year is up 0.081%.