Before beginning your self storage search in Hanford, there are a few things you should know. Storage unit prices and availability in Hanford are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. In order to give you a better idea of these factors in Hanford, we pulled in data from the US Census.
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 Hanford, prices could be higher and availability lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Hanford we can get a better idea of the amount of moving activity. According to the US Census, the Hanford metro area's population grew from 54,138 in 2010 to 55,065 in 2014, a growth rate of 1.71%.
One way to get an idea of the demand for housing and storage space in Hanford is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Hanford, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Hanford area. Hanford is estimated to have a 94.6% housing occupancy rate, while the vacancy rate is at 5.4%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Hanford, suggesting that storage unit inventory might also be tighter in Hanford. With fewer units available, storage facilities in Hanford may charge higher prices.
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