Finding Self Storage in Fresno, CA: Top Tips
Before beginning your self storage search in Fresno, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Fresno, 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. We used US Census data on Fresno to give you a better idea of these factors.Fresno, CA Moving and Storage
If there are many people moving to or from Fresno, prices could be higher than in other cities. That's because self storage if often used as part of a home move. By looking at population changes in Fresno, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Fresno metro area population grew from 497,030 to 515,986, a growth rate of 3.81% according to the US Census.Real Estate and Self Storage in Fresno, CA
The Fresno real estate climate may affect storage prices and availability in a number of ways, one of those ways being housing prices. That means that looking into US Census data on Fresno home values and rents can help us get an idea of storage pricing. With a median home value of $195,400 according to the US Census, Fresno real estate prices are lower than the average for the top 100 US metros. Fresno home values declined by -27.31% between 2009 and 2013. Housing in Fresno is less affordable than most other cities, with the median income making up 23.32% of the median home value. 54% of the housing stock in Fresno is owner occupied, a lower rate than other major American cities.
In terms of rental rates, median rent in Fresno is $875 per month, which is lower than other large US metros. Between 2005 and 2013, the median rent in Fresno grew by 9.24%, a lower rate than comparable cities. In terms of rent affordability, the yearly median rent in Fresno would consume 23% of the median income. This makes Fresno less affordable than similar cities. 42% of Fresno housing stock is renter occupied, a higher percentage than other large US cities.
Cities where homes tend to be smaller may have a greater need for extra storage space. Homes in Fresno have a median number of 6 rooms, which is lower than the average for large US metros. The median price per room in Fresno is $32,567, which is higher than average among the top US metro areas.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Fresno. High occupancy rates can indicate a lack of housing supply in Fresno, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Fresno area. Fresno is estimated to have a 92.4% housing occupancy rate, while the vacancy rate is at 7.6%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Fresno may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Fresno than in other cities.Fresno, CA Self Storage Prices and Economics
The local economy will also have an effect on self storage prices. Wealthier cities will likely have higher storage unit prices than cities where incomes are generally lower, so it may be useful to look at these numbers for Fresno, particularly if you're moving in from another city. Fresno's median income is estimated to be $45,563, which is lower than average for large US cities. From 2009 to 2013, median income in Fresno declined by -1.44%. 3% of residents in Fresno make over $200k in income a year, a lower rate than in other big cities. Fresno's GDP as of 2013 was $33,165,000,000, which gives it a GDP per capita of $34,688. That GDP per capita is lower than it is for comparable cities. More educated cities are often wealthier cities. 24% of Fresno residents over the age of 18 have a high school diploma, 12% have a college degree, and 5% have a graduate or professional degree.