Just starting your Banner Elk self storage search? There are a few things you should know. Banner Elk 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 Banner Elk, we pulled in data from the US Census.
One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Banner Elk, prices could be higher and availability lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Banner Elk we can get a better idea of the amount of moving activity. The US Census tells us that the metro area population of Banner Elk grew from 1,026 in 2010 to 1,113 in 2014, which is a rate of 8.48% growth over four years.
One way to get an idea of the demand for housing and storage space in Banner Elk is to look at housing occupancy and vacancy rates. If housing occupancy rates in Banner Elk are high, it's probably safe to assume that storage facility occupancy rates in Banner Elk are also high, which would push unit prices up. Banner Elk is estimated to have a 47.9% housing occupancy rate, while the vacancy rate is at 52.1%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Banner Elk also have higher than average occupancy rates. High occupancy rates in Banner Elk will make it more difficult to find a good deal on a storage unit.
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