Tips for Finding Self Storage in Portsmouth, VA
Just starting your Portsmouth self storage search? There are a few things you should know. Storage unit prices and availability in Portsmouth are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Portsmouth.Self Storage and Moving in Portsmouth, VA
Many people use storage as part of their move, so if there are many people moving to Portsmouth, you might expect storage prices to be higher and unit availability to be lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Portsmouth we can get a better idea of the amount of moving activity. From 2010 to 2014, the Portsmouth metro area population grew from 95,495 to 96,004, a growth rate of 0.53% according to the US Census.Real Estate and Self Storage in Portsmouth, VA
One way to get an idea of the demand for housing and storage space in Portsmouth is to look at housing occupancy and vacancy rates. Low rates of vacancy in Portsmouth housing could indicate that real estate is in short supply. Self storage units in Portsmouth may then also be in short supply, which means Portsmouth storage unit prices may be higher. The US Census estimates that housing vacancy rates in Portsmouth are at 8.5%, while the occupancy rate is at 91.5%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Portsmouth may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Portsmouth than in other cities.