Just starting your Algonquin self storage search? There are a few things you should know. Algonquin 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Algonquin.
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 Algonquin, that could affect storage unit pricing and availability. Population changes over time are one way of gauging the amount of moving activity in Algonquin. The US Census tells us that the metro area population of Algonquin grew from 30,070 in 2010 to 30,410 in 2014, which is a rate of 1.13% growth over four years.
Housing occupancy and vacancy rates in Algonquin can help us get a better idea of how much demand there is for living and storage space in Algonquin and thus the kind of storage prices and availability we should expect to find. If there's low vacancy rates in Algonquin housing, there's likely low vacancy at Algonquin storage facilities. This would allow storage facilities in Algonquin to charge higher prices for their units. According to US Census estimates, 95.5% of housing units in Algonquin are occupied, while the vacancy rate is at 4.5%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Algonquin also have higher than average occupancy rates. High occupancy rates in Algonquin will make it more difficult to find a good deal on a storage unit.
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