Finding Self Storage in Tampa, FL: Everything You Need To Know
Just starting your Tampa self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in Tampa, 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. We used US Census data on Tampa to give you a better idea of these factors.Tampa, FL Moving and Storage
Self storage is commonly used as a secure place to store one's belongings when moving into a new home. If there's a high amount of moving activity in Tampa, that could affect storage unit pricing and availability. By looking at population changes in Tampa, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Tampa metro area population grew from 336,885 to 358,699, a growth rate of 6.48% according to the US Census.Real Estate and Self Storage in Tampa, FL
In Tampa, like any city, the real estate climate can affect the prices and availability at storage facilties in a number of ways, one of those being the cost of housing. That means that looking into US Census data on Tampa home values and rents can help us get an idea of storage pricing. With a median home value of $146,500 according to the US Census, Tampa real estate prices are lower than the average for the top 100 US metros. The median home value in Tampa declined by -21.07% between 2009 and 2013. Also, considering the fact that the median income in Tampa makes up 31.74% of the median home value, we can say that housing in Tampa is more affordable than other US metros. In Tampa, 66% of homes are occupied by their owner, a higher portion than other big American cities.
Median rent is $943 in Tampa according to the US Census, a higher rate than other sizeable US cities. Between 2005 and 2013, the median rent in Tampa grew by 7.65%, a lower rate than comparable cities. The median rent in Tampa would eat up approximately 24% of the median income, which makes Tampa less affordable for most renters than comparable cities. Renters occupy approximately 29% of housing in Tampa, a lower rate than similar cities.
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 Tampa, homes have a median number of 5.8 rooms, which is lower than the average for large US cities. The median price per room in Tampa is $25,259, which is lower than average among the top US metro areas.
One way to get an idea of the demand for housing and storage space in Tampa is to look at housing occupancy and vacancy rates. If housing occupancy rates in Tampa are high, it's probably safe to assume that storage facility occupancy rates in Tampa are also high, which would push unit prices up. The US Census estimates that housing vacancy rates in Tampa are at 13.5%, while the occupancy rate is at 86.5%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Tampa may also be higher. That might make it harder to find cheap storage in Tampa.Self Storage Prices and Economics in Tampa, FL
The local economy will also have an effect on self storage prices. Wealthier cities will likely have higher storage unit prices than cities where incomes are generally lower, so it may be useful to look at these numbers for Tampa, particularly if you're moving in from another city. The median income in Tampa is $46,497, which is lower than the average for large US cities. Between 2009 and 2013, median income in Tampa grew by 0.39%. 3.5% of those living in Tampa make over $200,000 a year, a lower rate than the average for the top 100 US metros. According to the latest US Census reports, Tampa has a GDP of $115,263,000,000 and a per capita GDP of $40,103. That's a lower GDP per capita than the average for comparable cities. Cities where the populace has a higher level of education are typically wealthier and more expensive. 31% of Tampa residents over the age of 18 have a high school diploma, 16% have a college degree, and 8% have a graduate or professional degree.