Finding Self Storage in Bakersfield, CA: Top Tips
There are a few things you should know about Bakersfield self storage before you begin your search. If you're wondering how much you should expect to pay for self storage in Bakersfield, consider the fact that storage prices are closely related to factors like the real estate climate, the economic prospects of the city, and population growth. The US Census keeps accurate data relating to all of these factors, so we've used their data on Bakersfield to help inform your Bakersfield self storage search.Self Storage and Moving in Bakersfield, CA
Many people use storage as part of their move, so if there are many people moving to Bakersfield, you might expect storage prices to be higher and unit availability to be lower. We can get a good idea of whether or not many people are moving to or from Bakersfield by looking at the change in population. From 2010 to 2014, the Bakersfield metro area population grew from 348,944 to 368,759, a growth rate of 5.68% according to the US Census.The Relationship Between Real Estate and Self Storage in Bakersfield, CA
Bakersfield housing prices and land values can affect storage prices as well. Storage facilities in more expensive Bakersfield neighborhoods will typically charge higher rental rates. That means that looking into US Census data on Bakersfield home values and rents can help us get an idea of storage pricing. According to the US Census, the median value of a home in Bakersfield is $161,700, which is lower than the average for the top 100 US metros. Bakersfield home values declined by -28.7% between 2009 and 2013. The median income in Bakersfield makes up 30.03% of the median home value, which indicates that housing in Bakersfield is less affordable than in other large cities. 58% of Bakersfield homes are owner occupied, a lower percentage than other big cities.
In terms of rental rates, median rent in Bakersfield is $885 per month, which is lower than other large US metros. Between 2005 and 2013, the median rent in Bakersfield grew by 13.17%, a higher rate than comparable cities. That rental rate would take up 22% of a median earner's income in Bakersfield, making Bakersfield less affordable for renters than the average for the top 100 US metros. 37% of Bakersfield housing is renter occupied, a higher rate than other major metros.
Self storage is commonly used when people need extra space, so cities where homes are smaller on average may have a greater need for storage space. In Bakersfield, homes have a median number of 5.9 rooms, which is lower than the average for large US cities. The median price per room in Bakersfield is $27,407, which is lower than average among the top US metro areas.
Housing occupancy and vacancy rates in Bakersfield can help us get a better idea of how much demand there is for living and storage space in Bakersfield and thus the kind of storage prices and availability we should expect to find. If housing occupancy rates in Bakersfield are high, it's probably safe to assume that storage facility occupancy rates in Bakersfield are also high, which would push unit prices up. 7.9% of housing units in Bakersfield are vacant according to the US Census, while 92.1% are occupied. That's a higher rate than average for US cities, suggesting storage unit occupancy in Bakersfield may also be higher. That might make it harder to find cheap storage in Bakersfield.Bakersfield, CA Self Storage Prices and Economics
Statistics like income and economic growth can also hint at storage pricing, since higher local incomes will likely point to higher storage prices. This can be particularly useful if you're moving to Bakersfield from a different city. Bakersfield's median income is estimated to be $48,552, which is lower than average for large US cities. Between 2009 and 2013, median income in Bakersfield grew by 5.05%. 3% of Bakersfield household have an income in excess of $200,000 a year, which is a lower rate than the average for large US cities. Bakersfield has a total GDP of $33,408,000,000 and a GDP per capita of $38,581. That GDP per capita is lower than it is for comparable cities. Wealth and education are also highly correlated. 28% of Bakersfield residents over the age of 18 have a high school diploma, 9% have a college degree, and 4% have a graduate or professional degree.