Tips for Finding Self Storage in Farmington, MN
Just starting your Farmington self storage search? There are a few things you should know. The pricing and availability of storage units in Farmington will depend on several factors such as the real estate climate, the number of people moving into or throughout the area, housing conditions in the city, and the general wealth and prosperity of the area. In order to give you a better idea of these factors in Farmington, we pulled in data from the US Census.Farmington, MN Self Storage and Moving
One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Farmington, prices could be higher and availability lower. By looking at population changes in Farmington, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Farmington metro area population grew from 21,154 to 22,571, a growth rate of 6.7% according to the US Census.Self Storage and Real Estate in Farmington, MN
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 there's low vacancy rates in Farmington housing, there's likely low vacancy at Farmington storage facilities. This would allow storage facilities in Farmington to charge higher prices for their units. According to US Census estimates, 95.3% of housing units in Farmington are occupied, while the vacancy rate is at 4.7%. 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.