Tips for Finding Self Storage in Birmingham, AL
There are a few things you should know about Birmingham self storage before you begin your search. The pricing and availability of storage units in Birmingham 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 Birmingham, we pulled in data from the US Census.Birmingham, AL Self Storage and Moving
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 Birmingham, 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 Birmingham by looking at the change in population. From 2010 to 2014, the Birmingham metro area population grew from 212,072 to 212,247, a growth rate of 0.08% according to the US Census.Self Storage and Real Estate in Birmingham, AL
The Birmingham real estate climate may affect storage prices and availability in a number of ways, one of those ways being housing prices. The US Census provides us with housing value and median rent data for Birmingham which we can use to get a better idea of what to expect in terms of price and availability for Birmingham self storage. Census data tells us that the median home value in Birmingham is $143,400, which is lower than the average median home value among the top 100 US metros. Birmingham home values grew by 6.3% between 2009 and 2013. In terms of housing affordability, the median income in Birmingham is 33.71% of the median home value, making Birmingham housing more affordable than most other big cities. 70% of the housing stock in Birmingham is owner occupied, a higher rate than other major American cities.
Median rent is $795 in Birmingham according to the US Census, a lower rate than other sizeable US cities. Between 2005 and 2013, the median rent in Birmingham grew by 12.13%, a higher rate than comparable cities. That rental rate would take up 20% of a median earner's income in Birmingham, making Birmingham more affordable for renters than the average for the top 100 US metros. 28% of Birmingham housing stock is renter occupied, a lower percentage than other large US cities.
Another way housing may affect storage demand is in the general size of homes in that city, with areas where homes are smaller often having a greater need for extra storage space. The median number of rooms per home in Birmingham is 6.4, which is lower than the average among the top 100 US metros. The median price per room in Birmingham is $22,406, which is lower than average among the top US metro areas.
Vacancy and occupancy rates in the Birmingham housing market can help us gauge the demand for living space and thus self-storage space in Birmingham, and may hint at storage availability and pricing. If there's low vacancy rates in Birmingham housing, there's likely low vacancy at Birmingham storage facilities. This would allow storage facilities in Birmingham to charge higher prices for their units. 18% of housing units in Birmingham are vacant according to the US Census, while 82% are occupied. That's a higher rate than average for US cities, suggesting storage unit occupancy in Birmingham may also be higher. That might make it harder to find cheap storage in Birmingham.Birmingham, AL Economics and Self Storage Prices
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 Birmingham from a different city. Birmingham's median income is estimated to be $48,336, which is lower than average for large US cities. Between 2009 and 2013, median income in Birmingham grew by 2.28%. 3.6% of the population in Birmingham make over $200,000 a year, a lower proportion than in other large cities. The US Census reports that Birmingham's total GDP is $55,913,000,000 and its GDP per capita is $49,066. That means that Birmingham's per capita GDP is lower than the average for the top 100 US metros. Cities where the populace has a higher level of education are typically wealthier and more expensive. 28% of Birmingham residents over the age of 18 have a high school diploma, 17% have a college degree, and 9% have a graduate or professional degree.