IPhone 5 actual storage capacity?

I'm looking at buying a 16GB iPhone 5, and I know that it is sold/advertised as having 16GB memory, but I know that it is likely to be actually a little less than that, like maybe 12GB or something. Does anyone know what the actual storage capacity is?

Estimated to be around 13~14GB

Every iphone needs an operating system that actually 'runs' the iphone. Remember, the iPhone is really a mini computer - not a phone. So to run an operating system (in this case ios), you need disk space. Apple generally uses around 1 GB of that disk space give or take to run the iphone. Therefore generally you will have around 15GB to actually 'use' (any tech types will probably correct me and state that it is actually around 14.9GB, and they would be correct - I just rounded it up.
Hope this helps- have a great day.

13.46GB