A storage system includes a memory controller and a storage device with one or more memory devices, each with a plurality of memory portions. The memory controller determines an initial storage capacity for each of the one or more memory devices, where the one or more memory devices are configured in a first storage density. The memory controller detects a trigger condition as to at least one memory portion of a respective device of the one or more memory devices and, in response to detecting the trigger condition, recharacterizes the at least one memory portion of the respective memory device so as to be configured in a second storage density, where the at least one recharacterized memory portion of the respective memory device has a reduced storage capacity. After the recharacterizing, the memory controller determines a revised storage capacity for the respective memory device.