Everything You Need to Know About Finding Self Storage in Augusta, GA
There are a few things you should know about Augusta self storage before you begin your search. The pricing and availability of storage units in Augusta will depend on several factors such as the real estate climate, the number of people moving into or throughout the area, housing conditions in the city, and the general wealth and prosperity of the area. In order to give you a better idea of these factors in Augusta, we pulled in data from the US Census.The Relationship Between Real Estate and Self Storage in Augusta, GA
Augusta 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. By looking into US Census data on Augusta housing values and median rents, we can get a better idea of the real estate climate in Augusta and how it may affect self storage. With a median home value of $124,700 according to the US Census, Augusta real estate prices are lower than the average for the top 100 US metros. In the 5 year span from 2009 to 2013, median home values in Augusta grew by 9.19%. The median income in Augusta makes up 36.45% of the median home value, which indicates that housing in Augusta is more affordable than in other large cities. 68% of Augusta homes are owner occupied, a higher percentage than other big cities.
At $752 per month, median rent in Augusta is higher than the average for the top 100 US cities. Between 2005 and 2013, the median rent in Augusta grew by 13.42%, a higher rate than comparable cities. The median rent in Augusta would eat up approximately 20% of the median income, which makes Augusta less affordable for most renters than comparable cities. Renters occupy approximately 30% of housing in Augusta, 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 Augusta, homes have a median number of 6.4 rooms, which is lower than the average for large US cities. The median price per room in Augusta is $19,484, which is lower than average among the top US metro areas.Augusta, GA Economics and Self Storage Prices
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 Augusta, particularly if you're moving in from another city. Augusta's median income is estimated to be $45,454, which is lower than average for large US cities. Between 2009 and 2013, median income in Augusta grew by 3.66%. 2.8% of those living in Augusta make over $200,000 a year, a lower rate than the average for the top 100 US metros. Augusta has a total GDP of $19,497,000,000 and a GDP per capita of $33,602. That's a lower per capita GDP than the average for large cities in the United States. More educated cities are often wealthier cities. 31% of Augusta residents over the age of 18 have a high school diploma, 14% have a college degree, and 8% have a graduate or professional degree.