React Hook recipe from https://usehooks.com. Demo: https://codesandbox.io/s/qxkr4mplv6

use-local-storage-example.js

import { useState } from 'react';

// Usage
function App() {
  // Similar to useState but first arg is key to the value in local storage.
  const [name, setName] = useLocalStorage('name', 'Bob');

  return (
    <div>
      <input
        type="text"
        placeholder="Enter your name"
        value={name}
        onChange={e => setName(e.target.value)}
      />
    </div>
  );
}

// Hook
function useLocalStorage(key, initialValue) {
  // State to store our value
  // Pass initial state function to useState so logic is only executed once
  const [storedValue, setStoredValue] = useState(() => {
    try {
      // Get from local storage by key
      const item = window.localStorage.getItem(key);
      // Parse stored json or if none return initialValue
      return item ? JSON.parse(item) : initialValue;
    } catch (error) {
      // If error also return initialValue
      console.log(error);
      return initialValue;
    }
  });

  // Return a wrapped version of useState's setter function that ...
  // ... persists the new value to localStorage.
  const setValue = value => {
    try {
      // Allow value to be a function so we have same API as useState
      const valueToStore =
        value instanceof Function ? value(storedValue) : value;
      // Save state
      setStoredValue(valueToStore);
      // Save to local storage
      window.localStorage.setItem(key, JSON.stringify(valueToStore));
    } catch (error) {
      // A more advanced implementation would handle the error case
      console.log(error);
    }
  };

  return [storedValue, setValue];
}

Could we add a custom serialization/deserialization logic?
function useLocalStorage(key, initialValue, serialize = JSON.stringify, deserialize = JSON.parse) {
And use those functions instead of calling JSON.stringify/JSON.parse.