Self Storage in Miami: FAQ
What's the average rental rate for storage units in Miami, FL?
How can you hunt for a cheap storage unit if you don't know how much one in Miami should cost? After all, storage prices can vary widely from place to place, so the only comparison you can make is with other facilities in the area. In order to prevent you from going into your storage search unprepared, we here at SelfStorage.com have prepared the numbers you need to know.
Prices on storage in Miami average $105.46 per month. If you're thinking of renting a unit for the long term, that's approximately $1265.52 per year. However, it's important to note that this is the average for all storage unit sizes. There can be, and often are, substanial price differences between different unit sizes. In Miami you'll have the option of booking six standard storage unit sizes, such as 5x5, 5x10, 10x10, 10x15, and 10x20. For each standard size, here's how much you might expect to pay per month in Miami:
|Storage Unit Size||Average Price in Miami, FL|
Miami, FL storage price seasonality: Why it's better to book in April than August
If you do your comparison shopping for storage units a few months from now, you might be surprised to see that prices have changed. That's because the self storage market is highly seasonal. The high season lasts from late spring to late summer, the most popular period for those moving into a new home. Memorial Day weekend marks the definitive end to the low season. The following Tuesday is often so busy that it's popularly known as 'Crazy Tuesday' within the self storage industry. Cities with high proportions of university students may see more pronounced seasonal highs and lows, as many students book storage units during the summer.
Those looking for storage in Miami shouldn't have to worry as much about seasonal prices swings, as according to our data these swings are much less extreme here than elsewhere. Even though you shouldn't have to worry as much about your rates changing later in the year, it's always best to lock in your rate with the facility if possible. August is the most expensive month for storage in Miami, with an average price of $118.77. The cheapest prices on storage in Miami can be found during the month of April, where the average cost of a unit is $91.03.
Which ZIP codes in Miami have the least expensive on self storage? Which have the most expensive prices?
Storage prices can vary widely depending on which part of Miami you're in Look for a cheap unit in the 33166 ZIP code, where the average price of $111.82 is the lowest in Miami. The most pricey part of town to rent storage in is the 33133 ZIP code, where rates average $207.70 per month.
How much should I expect my storage rental rates to be in Miami?
Just like real estate prices, prices on storage can be totally different in different parts of the same city. The more expansive your search, the more facilities you'll be able to compare, and the more options you'll have. The sum you'll save each month could totally be worth the extra drive, especially if you'll only need to visit your unit on the rare occasion. If we can show that self-storage (also known as public self storage and mini storage) in Miami is more expensive than its surroundings, then you'll know to expand your search.
An average price of $105.46 a month for a storage unit makes Miami the 32nd most expensive city in Florida for self-storage, while Florida itself is the 15th most expensive state. In more exact terms, storage in Miami costs an average of $26.83 more than the average storage unit in Florida, which goes for 78.63.
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 Florida is $45,281.00, which means the average storage unit in Miami would require 2.79% of a median earner's monthly income. As a percentage of income, storage in Miami is very expensive according to our scale, its relative price ranking in at the 81st percentile in Florida.
When placed on a national scale and compared to cities across the country, storage prices in Miami are still very expensive, ranking at the 86th percentile in terms of relative expense. The national average monthly price of a storage unit is $72.15. Depending on the size of unit you rent and the time of year, you should expect to pay approximately $33.31 more than that for self storage in Miami.
How many storage facilities do I have to choose from in Miami? Does the area offer a large number of options?
The more facilities there are in the area you're searching, the more options you'll have. When it comes to the number of facilities operating in Miami, how many options are available?
In total, 88 Miami storage businesses have listed themselves on our self-storage facility network. If we compare this to other cities in Florida, which average 10 facilities per city, Miami offers 78 more--quite the substantial number. In fact, Miami's 88 facilities give it the 1st-highest count in the state out of all 173 cities. It's home to a surprising 5.33% of all facilities in Florida. Does Miami perform as well against other cities outside of its state? In fact it does, as its 88 facilities put it 79 above the national average of 9 per city.
Since, however, there are huge disparities in population between Miami and other cities in Florida, comparing the number of storage businesses in each tells us very little. Miami, FL has approximately 433,136 inhabitants. Do the 88 storage businesses there offer the community enough storage space? On average, cities with populations of 250,000 to 1,000,000 have 49 storage businesses listed on our self-storage network. That's 39 fewer than Miami's 88. In other words, it's pretty clear that Miami offers a great amount of storage space for its size. In addition, if we look at Miami's per capita facility count, our former findings seem to be definitively affirmed: Miami does seem to have a large number of facilities for its size. With 88 facilities for its 433,136 residents, Miami ranks in the 50th percentile for self-storage facilities per person in cities nationwide. In other words, there's a pretty good amount of storage for each person in Miami. But despite having a high number of per capita storage businesses on the national scale, Miami actually comes in on the low end for a city in Florida, where it only ranks in the 47th percentile.
It also bears mentioning that Miami saw a large amount of population growth in the past decade, growing by 19.2% from 2000 to 2010, a good 1.6% more growth than the 17.6% the state of Florida experienced over the same period. But even after all that population growth, Miami still offers more facilities per person than many other cities. All that extra space may help even out the demand created by its new residents.
MIAMI SELF STORAGE: THE BOTTOM LINE
Attempting to find a particularly-low price on a self storage unit in Miami, FL? April is when prices are lowest on storage, while the best prices can be found in the 33166 ZIP code. The worst month to look for storage is August, when units are at their highest average price, and remember that the 33133 area is costlier than other areas.