Finding Self Storage in Columbus, OH: Top Tips
Before beginning your self storage search in Columbus, there are a few things you should know. Columbus storage unit prices and availability are closely related to things like real estate prices, the type of housing available in the area, the city's wealth, and whether or not many people are moving to the area. We used US Census data on Columbus to give you a better idea of these factors.Moving and Storage in Columbus, OH
Many people use storage as part of their move, so if there are many people moving to Columbus, 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 Columbus we can get a better idea of the amount of moving activity. From 2010 to 2014, the Columbus metro area population grew from 790,425 to 835,957, a growth rate of 5.76% according to the US Census.The Real Estate Climate and Self Storage in Columbus, OH
Columbus real estate and self storage are interrelated in a few different ways. For one, land values and the cost of housing can make storage more or less expensive. That means that looking into US Census data on Columbus home values and rents can help us get an idea of storage pricing. Census data tells us that the median home value in Columbus is $158,100, which is lower than the average median home value among the top 100 US metros. Between 2009 and 2013 the median home value in Columbus declined by -1.8%. Housing in Columbus is more affordable than most other cities, with the median income making up 34.25% of the median home value. 63% of homes in Columbus are owner occupied, a lower rate than comparable cities.
Median rent is $805 in Columbus according to the US Census, a lower rate than other sizeable US cities. Between 2005 and 2013, the median rent in Columbus grew by 8.49%, a lower rate than comparable cities. That rental rate would take up 18% of a median earner's income in Columbus, making Columbus more affordable for renters than the average for the top 100 US metros. Renters occupy approximately 34% of housing in Columbus, a higher rate than similar cities.
Cities where homes tend to be smaller may have a greater need for extra storage space. Homes in Columbus have a median number of 6.7 rooms, which is higher than the average for large US metros. The median price per room in Columbus is $23,597, which is lower than average among the top US metro areas.
Housing occupancy and vacancy rates in Columbus can help us get a better idea of how much demand there is for living and storage space in Columbus and thus the kind of storage prices and availability we should expect to find. Low rates of vacancy in Columbus housing could indicate that real estate is in short supply. Self storage units in Columbus may then also be in short supply, which means Columbus storage unit prices may be higher. Columbus is estimated to have a 89.4% housing occupancy rate, while the vacancy rate is at 10.6%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Columbus also have higher than average occupancy rates. High occupancy rates in Columbus will make it more difficult to find a good deal on a storage unit.Self Storage Prices and Economics in Columbus, OH
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 Columbus from a different city. The median income in Columbus is $54,156, which is lower than the average for large US cities. Between 2009 and 2013, median income in Columbus grew by 2.63%. 4.2% of those living in Columbus make over $200,000 a year, a lower rate than the average for the top 100 US metros. The US Census reports that Columbus's total GDP is $107,191,000,000 and its GDP per capita is $54,438. That's a higher GDP per capita than the average for comparable cities. More educated cities are often wealthier cities. 29% of Columbus residents over the age of 18 have a high school diploma, 20% have a college degree, and 10% have a graduate or professional degree.