Finding Self Storage in Des Moines, IA: Top Tips
If you're searching for self storage in Des Moines, there are a few things you should keep in mind. If you're wondering how much you should expect to pay for self storage in Des Moines, consider the fact that storage prices are closely related to factors like the real estate climate, the economic prospects of the city, and population growth. The US Census keeps accurate data relating to all of these factors, so we've used their data on Des Moines to help inform your Des Moines self storage search.Moving and Storage in Des Moines, IA
If there are many people moving to or from Des Moines, 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 Des Moines by looking at the change in population. The US Census tells us that the metro area population of Des Moines grew from 204,555 in 2010 to 209,220 in 2014, which is a rate of 2.28% growth over four years.Real Estate and Self Storage in Des Moines, IA
Des Moines real estate and self storage are interrelated in a few different ways. For one, land values and the cost of housing can make storage more or less expensive. By looking into US Census data on Des Moines housing values and median rents, we can get a better idea of the real estate climate in Des Moines and how it may affect self storage. Census data tells us that the median home value in Des Moines is $156,400, which is lower than the average median home value among the top 100 US metros. The median home value in Des Moines grew by 5.25% between 2009 and 2013. The median income in Des Moines makes up 38.84% of the median home value, which indicates that housing in Des Moines is more affordable than in other large cities. 71% of Des Moines homes are owner occupied, a higher percentage than other big cities.
The median monthly housing rent in Des Moines is $777 per month, which is lower than most other big cities. Between 2005 and 2013, the median rent in Des Moines grew by 11.32%, a higher rate than comparable cities. How affordable is that for median earners in Des Moines? Median rent would take up 15.35% of a median earner's paycheck in Des Moines, making it more affordable for renters than other big cities. 28% of Des Moines housing is renter occupied, a lower rate than other major metros.
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 Des Moines, 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 Des Moines is $24,062, 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 Des Moines is to look at housing occupancy and vacancy rates. If housing occupancy rates in Des Moines are high, it's probably safe to assume that storage facility occupancy rates in Des Moines are also high, which would push unit prices up. According to US Census estimates, 91.7% of housing units in Des Moines are occupied, while the vacancy rate is at 8.3%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Des Moines may also be higher. That might make it harder to find cheap storage in Des Moines.Self Storage Prices and Economics in Des Moines, IA
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 Des Moines from a different city. Median earners in Des Moines make $60,750 a year according to the most recent US Census estimates, a higher median pay than the average for large US urban areas. Between 2009 and 2013, median income in Des Moines grew by 6.23%. 4.4% of the population in Des Moines make over $200,000 a year, a lower proportion than in other large cities. Des Moines's GDP as of 2013 was $39,714,000,000, which gives it a GDP per capita of $66,181. That's a higher GDP per capita than the average for comparable cities. Wealth and education are also highly correlated. 27% of Des Moines residents over the age of 18 have a high school diploma, 24% have a college degree, and 9% have a graduate or professional degree.