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Finding Self Storage in Elgin, IL: Top Tips

If you're searching for self storage in Elgin, there are a few things you should keep in mind. Storage unit prices and availability in Elgin 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 Elgin.

Elgin, IL Self Storage and Moving

Many people use storage as part of their move, so if there are many people moving to Elgin, you might expect storage prices to be higher and unit availability to be lower. Population changes over time are one way of gauging the amount of moving activity in Elgin. The US Census tells us that the metro area population of Elgin grew from 108,304 in 2010 to 111,117 in 2014, which is a rate of 2.6% growth over four years.

The Real Estate Climate and Self Storage in Elgin, IL

Housing occupancy and vacancy rates in Elgin can help us get a better idea of how much demand there is for living and storage space in Elgin and thus the kind of storage prices and availability we should expect to find. If there's low vacancy rates in Elgin housing, there's likely low vacancy at Elgin storage facilities. This would allow storage facilities in Elgin to charge higher prices for their units. 7.3% of housing units in Elgin are vacant according to the US Census, while 92.7% are occupied. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Elgin also have higher than average occupancy rates. High occupancy rates in Elgin will make it more difficult to find a good deal on a storage unit.