Just starting your Buffalo Grove self storage search? There are a few things you should know. Buffalo Grove 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. The US Census keeps accurate data relating to all of these factors, so we've used their data on Buffalo Grove to help inform your Buffalo Grove self storage search.
If there are many people moving to or from Buffalo Grove, prices could be higher than in other cities. That's because self storage if often used as part of a home move. We can get a good idea of whether or not many people are moving to or from Buffalo Grove by looking at the change in population. The US Census tells us that the metro area population of Buffalo Grove grew from 41,466 in 2010 to 41,701 in 2014, which is a rate of 0.57% growth over four years.
Vacancy and occupancy rates in the Buffalo Grove housing market can help us gauge the demand for living space and thus self-storage space in Buffalo Grove, and may hint at storage availability and pricing. If there's low vacancy rates in Buffalo Grove housing, there's likely low vacancy at Buffalo Grove storage facilities. This would allow storage facilities in Buffalo Grove to charge higher prices for their units. Buffalo Grove is estimated to have a 95.1% housing occupancy rate, while the vacancy rate is at 4.9%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Buffalo Grove, suggesting that storage unit inventory might also be tighter in Buffalo Grove. With fewer units available, storage facilities in Buffalo Grove may charge higher prices.
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