Finding Self Storage in Farmington, MI: Everything You Need To Know
If you're searching for self storage in Farmington, there are a few things you should keep in mind. Farmington 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 Farmington to help inform your Farmington self storage search.Farmington, MI Moving and Storage
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 Farmington, that could affect storage unit pricing and availability. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Farmington we can get a better idea of the amount of moving activity. The US Census tells us that the metro area population of Farmington grew from 10,374 in 2010 to 10,554 in 2014, which is a rate of 1.74% growth over four years.The Real Estate Climate and Self Storage in Farmington, MI
One way to get an idea of the demand for housing and storage space in Farmington is to look at housing occupancy and vacancy rates. If housing occupancy rates in Farmington are high, it's probably safe to assume that storage facility occupancy rates in Farmington are also high, which would push unit prices up. 6.8% of housing units in Farmington are vacant according to the US Census, while 93.2% are occupied. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Farmington, suggesting that storage unit inventory might also be tighter in Farmington. With fewer units available, storage facilities in Farmington may charge higher prices.