THE COST OF STORAGE

Renting a self-storage unit can be an immensely useful tool in anyone’s household. As we’ve detailed previously in the blog, the extra space can be used to cycle seasonal items to always keep what you are more likely to need close at hand and unused possessions out of the way. Winter months will see folks moving their jet skis and life vests from the garage and into their unit, meanwhile pulling the holiday decorations, winter clothes, and all the baking supplies needed for grandma’s hit cookies home for use.

But what’s the real cost of this ability? To figure this out we will take a look and compare pricing with the most expensive city in North America… New York City!

For a frame of reference, we are using the expatison.com cost of living calculators. New York City, the Big Apple, where as it so happens two pounds of apples will run you $4 (as opposed to Albuquerque’s $3). Not much of a difference you think? Well that ratio does not scale when it comes to real estate. Expatison.com lists the average monthly rent in an EXPENSIVE area of ABQ sitsat over $2000 less than New York City. That’s per month!

But let’s scale that back and look at a more modest living situation. A 500 sqft (furnished) studio would run $1,937 coming in at a little over $4 per square foot. Now in the City That Never Sleeps, space is a premium. How does that $4 compare to a storage unit so you can keep your living space clear for necessities and, you know, space to actually live? Looking at the average price of a simple 5 x 5 (25 sqft) unit in New York will find that dollar per footage coming in at $2.5, and that’s the average price. Shopping smart, as anyone would, can find you that same space for a measly $21.75 a month. That’s $0.87 per square foot!

When the goal is to keep a well-managed household, utilizing extra space provided by storage units can be a key strategy effective space management. Call us down at Albuquerque Self Storage (505-431-6747) today and let’s see how we can help you use your home for living and not just storing.