Tips for Finding Self Storage in Monrovia, CA
Before beginning your self storage search in Monrovia, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Monrovia, 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Monrovia.Monrovia, CA Self Storage and Moving
If there are many people moving to or from Monrovia, prices could be higher than in other cities. That's because self storage if often used as part of a home move. We can get a good idea of whether or not many people are moving to or from Monrovia by looking at the change in population. The US Census tells us that the metro area population of Monrovia grew from 36,614 in 2010 to 37,415 in 2014, which is a rate of 2.19% growth over four years.The Relationship Between Real Estate and Self Storage in Monrovia, CA
One way to get an idea of the demand for housing and storage space in Monrovia is to look at housing occupancy and vacancy rates. If housing occupancy rates in Monrovia are high, it's probably safe to assume that storage facility occupancy rates in Monrovia are also high, which would push unit prices up. 4.9% of housing units in Monrovia are vacant according to the US Census, while 95.1% are occupied. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Monrovia, suggesting that storage unit inventory might also be tighter in Monrovia. With fewer units available, storage facilities in Monrovia may charge higher prices.