While the iPhone has started at 16GB of storage for its entry level for the past several years, the iPhone 7 may be looking to bump that up. Apple's next phone may debut at 32GB at the entry level, double the current capacity.
From The Wall Street Journal:
Instead of 16GB as a starting point for the entry-level iPhone, the new starting point will be 32GB, according to a person familiar with Apple's iPhone plans. Hallelujah!
Apple is also rumored to be planning a 256GB option for the iPhone 7. Currently, both the 4.7-inch iPhone 6 and 5.5-inch iPhone 6s Plus come in 16GB, 64GB, and 128GB models.