Finding Self Storage in Dayton, OH: Everything You Need To Know
If you're searching for self storage in Dayton, there are a few things you should keep in mind. Storage unit prices and availability in Dayton are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Dayton.Dayton, OH Self Storage and Moving
If there are many people moving to or from Dayton, prices could be higher than in other cities. That's because self storage if often used as part of a home move. By looking at population changes in Dayton, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Dayton metro area population fell from 142,294 to 141,003, a loss of -0.91% according to the US Census.The Real Estate Climate and Self Storage in Dayton, OH
In Dayton, like any city, the real estate climate can affect the prices and availability at storage facilties in a number of ways, one of those being the cost of housing. By looking into US Census data on Dayton housing values and median rents, we can get a better idea of the real estate climate in Dayton and how it may affect self storage. The median home value in Dayton is $124,000 according to the US Census. That's lower than average for the top 100 US metros. The median home value in Dayton declined by -1.82% between 2009 and 2013. Housing in Dayton is more affordable than most other cities, with the median income making up 37.98% of the median home value. In Dayton, 64% of homes are occupied by their owner, a lower portion than other big American cities.
The median monthly housing rent in Dayton is $738 per month, which is lower than most other big cities. Between 2005 and 2013, the median rent in Dayton grew by 7.89%, a lower rate than comparable cities. How affordable is that for median earners in Dayton? Median rent would take up 18.8% of a median earner's paycheck in Dayton, making it more affordable for renters than other big cities. 32% of Dayton 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 Dayton, 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 Dayton is $19,077, which is lower than average among the top US metro areas.
One way to get an idea of the demand for housing and storage space in Dayton is to look at housing occupancy and vacancy rates. If there's low vacancy rates in Dayton housing, there's likely low vacancy at Dayton storage facilities. This would allow storage facilities in Dayton to charge higher prices for their units. Dayton is estimated to have a 78.9% housing occupancy rate, while the vacancy rate is at 21.1%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Dayton may also be higher. That might make it harder to find cheap storage in Dayton.Dayton, OH Self Storage Prices and Economics
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Dayton can be particularly helpful if you're moving from another city. The median income in Dayton is $47,095, which is lower than the average for large US cities. From 2009 to 2013, median income in Dayton declined by -0.11%. 2.6% of those living in Dayton make over $200,000 a year, a lower rate than the average for the top 100 US metros. Dayton has a total GDP of $35,216,000,000 and a GDP per capita of $43,930. That means that Dayton's per capita GDP is lower than the average for the top 100 US metros. Education levels also tend to correlate with wealth. 29% of Dayton residents over the age of 18 have a high school diploma, 14% have a college degree, and 10% have a graduate or professional degree.