Finding Self Storage in Boise, ID: Everything You Need To Know
Just starting your Boise self storage search? There are a few things you should know. The pricing and availability of storage units in Boise 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Boise.The Real Estate Climate and Self Storage in Boise, ID
The Boise real estate climate may affect storage prices and availability in a number of ways, one of those ways being housing prices. By looking into US Census data on Boise housing values and median rents, we can get a better idea of the real estate climate in Boise and how it may affect self storage. According to the US Census, the median value of a home in Boise is $166,300, which is lower than the average for the top 100 US metros. Boise home values declined by -9.96% between 2009 and 2013. The median income in Boise makes up 30.14% of the median home value, which indicates that housing in Boise is less affordable than in other large cities. 69% of homes in Boise are owner occupied, a higher rate than comparable cities.
At $799 per month, median rent in Boise is higher than the average for the top 100 US cities. Between 2005 and 2013, the median rent in Boise grew by 7.68%, a lower rate than comparable cities. That rental rate would take up 19% of a median earner's income in Boise, making Boise more affordable for renters than the average for the top 100 US metros. 28% of Boise housing stock is renter occupied, a lower 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 Boise, homes have a median number of 6.5 rooms, which is higher than the average for large US cities. The median price per room in Boise is $25,585, which is lower than average among the top US metro areas.Boise, ID Economics and Self Storage Prices
Economic indicators like local income and GDP growth can also hint at how storage prices in Boise compare to other cities. According to the most recent US Census data, median income in Boise is $50,126, which is lower than the average for the top 100 US metro areas. From 2009 to 2013, median income in Boise declined by -1.64%. 2.8% of those living in Boise make over $200,000 a year, a lower rate than the average for the top 100 US metros. Boise has a total GDP of $26,869,000,000 and a GDP per capita of $41,308. That's a lower GDP per capita than the average for comparable cities. Wealth and education are also highly correlated. 26% of Boise residents over the age of 18 have a high school diploma, 19% have a college degree, and 8% have a graduate or professional degree.