diff --git a/index.js b/index.js
index f6e4fe2..8917fa2 100644
--- a/index.js
+++ b/index.js
@@ -639,16 +639,22 @@ export function useLocalStorage(key, initialValue) {
     [key, store]
   );
 
+  const initialValueRef = React.useRef(initialValue);
+
   React.useEffect(() => {
     if (
       getLocalStorageItem(key) === null &&
-      typeof initialValue !== "undefined"
+      typeof initialValueRef.current !== "undefined"
     ) {
-      setLocalStorageItem(key, initialValue);
+      setLocalStorageItem(key, initialValueRef.current);
     }
-  }, [key, initialValue]);
+  }, [key]);
+
+  const result = React.useMemo(() => {
+    return store ? JSON.parse(store) : initialValueRef.current;
+  }, [store]);
 
-  return [store ? JSON.parse(store) : initialValue, setState];
+  return [result, setState];
 }
 
 export function useLockBodyScroll() {
@@ -1200,16 +1206,22 @@ export function useSessionStorage(key, initialValue) {
     [key, store]
   );
 
+  const initialValueRef = React.useRef(initialValue);
+
   React.useEffect(() => {
     if (
       getSessionStorageItem(key) === null &&
-      typeof initialValue !== "undefined"
+      typeof initialValueRef.current !== "undefined"
     ) {
-      setSessionStorageItem(key, initialValue);
+      setSessionStorageItem(key, initialValueRef.current);
     }
-  }, [key, initialValue]);
+  }, [key]);
+
+  const result = React.useMemo(() => {
+    return store ? JSON.parse(store) : initialValueRef.current;
+  }, [store]);
 
-  return [store ? JSON.parse(store) : initialValue, setState];
+  return [result, setState];
 }
 
 export function useSet(values) {