Las Vegas City Guide
Las Vegas, Nevada is so much more than just a city full of gambling. It’s also a world record breaker on several counts: highest commercial decelerator descent (i.e. leaping off the Stratosphere Tower at SkyJump), most hotel rooms in one intersection (four hotels with a total of 14,762 rooms), and most amount of pennies lost on one slot machine (no stats, but sounds about right).
With a population of 603,488, 310 days of mostly dry, hot sunshine, and a distinct lack of tornados, it’s an ideal place to live and is considered a family-friendly town. Hard to believe about a place called Sin City, but in fact there are plenty of things to do that don’t involve sinning. You can go hiking in The Valley of Fire, you can enjoy some classical music at the Las Vegas Philharmonic, and you can go ogle the Hoover Dam at the Lake Mead reservoir.
If you’ve lost everything you own at the craps table, not to worry—you can stash your belongings in a secure self storage facility before the casino mob comes to collect. There’s a perfect-sized unit for all your stuff, including climate-controlled for your paint-by-numbers Van Gogh and powder blue tuxedo, and indoor car storage units for your ’67 Camaro SS and 3-wheeled All-Terrain Cycle.
If you enjoy the Las Vegas lifestyle but simply haven’t got any cash left, you can still visit the Neon Museum or the Mob Museum, check out the downtown arts district on the first Friday of the month, or go to the Mormon State Historic Park and learn about “plural marriage.” You may also enjoy checking out the remains of the Moulin Rouge Hotel and Casino—the hotel went bankrupt, suffered through four fires, and was finally demolished—which was the first desegregated hotel in the country.
For those with a knack for gambling, a self-storage unit comes in mighty handy when you don’t want to declare your gazillions of nickels and hiding them under the mattress has become too uncomfortable.
Before beginning your self storage search in Las Vegas, there are a few things you should know. Las Vegas 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. In order to give you a better idea of these factors in Las Vegas, we pulled in data from the US Census.Las Vegas, NV 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 Las Vegas, that could affect storage unit pricing and availability. We can get a good idea of whether or not many people are moving to or from Las Vegas by looking at the change in population. According to the US Census, the Las Vegas metro area's population grew from 584,670 in 2010 to 613,599 in 2014, a growth rate of 4.95%.The Real Estate Climate and Self Storage in Las Vegas, NV
Las Vegas housing prices and land values can affect storage prices as well. Storage facilities in more expensive Las Vegas neighborhoods will typically charge higher rental rates. By looking into US Census data on Las Vegas housing values and median rents, we can get a better idea of the real estate climate in Las Vegas and how it may affect self storage. The median home value in Las Vegas is $165,000 according to the US Census. That's lower than average for the top 100 US metros. In the 5 year span from 2009 to 2013, median home values in Las Vegas declined by -40.75%. Also, considering the fact that the median income in Las Vegas makes up 32.04% of the median home value, we can say that housing in Las Vegas is more affordable than other US metros. 54% of the housing stock in Las Vegas is owner occupied, a lower rate than other major American cities.
The median monthly housing rent in Las Vegas is $1,019 per month, which is higher than most other big cities. The median rent in Las Vegas shrank by -0.49% between 2009 and 2013. In terms of rent affordability, the yearly median rent in Las Vegas would consume 23% of the median income. This makes Las Vegas less affordable than similar cities. 41% of Las Vegas housing stock is renter occupied, a higher percentage than other large US 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 Las Vegas, homes have a median number of 6 rooms, which is lower than the average for large US cities. The median price per room in Las Vegas is $27,500, which is lower than average among the top US metro areas.
Housing occupancy and vacancy rates in Las Vegas can help us get a better idea of how much demand there is for living and storage space in Las Vegas and thus the kind of storage prices and availability we should expect to find. Low rates of vacancy in Las Vegas housing could indicate that real estate is in short supply. Self storage units in Las Vegas may then also be in short supply, which means Las Vegas storage unit prices may be higher. 13.1% of housing units in Las Vegas are vacant according to the US Census, while 86.9% are occupied. That's a higher rate than average for US cities, suggesting storage unit occupancy in Las Vegas may also be higher. That might make it harder to find cheap storage in Las Vegas.Las Vegas, NV Self Storage Prices and Economics
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Las Vegas can be particularly helpful if you're moving from another city. Las Vegas's median income is estimated to be $52,873, which is lower than average for large US cities. From 2009 to 2013, median income in Las Vegas declined by -5.72%. 3.4% of the population in Las Vegas make over $200,000 a year, a lower proportion than in other large cities. The US Census reports that Las Vegas's total GDP is $87,359,000,000 and its GDP per capita is $43,048. That's a lower GDP per capita than the average for comparable cities. More educated cities are often wealthier cities. 30% of Las Vegas residents over the age of 18 have a high school diploma, 14% have a college degree, and 6% have a graduate or professional degree.