Just starting your Edgewood self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in Edgewood, 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 Edgewood to help inform your Edgewood self storage search.
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 Edgewood, 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 Edgewood by looking at the change in population. The US Census tells us that the metro area population of Edgewood grew from 3,740 in 2010 to 3,805 in 2014, which is a rate of 1.74% growth over four years.
Housing occupancy and vacancy rates in Edgewood can help us get a better idea of how much demand there is for living and storage space in Edgewood and thus the kind of storage prices and availability we should expect to find. High occupancy rates can indicate a lack of housing supply in Edgewood, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Edgewood area. Edgewood is estimated to have a 91.6% housing occupancy rate, while the vacancy rate is at 8.4%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Edgewood also have higher than average occupancy rates. High occupancy rates in Edgewood will make it more difficult to find a good deal on a storage unit.
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