Finding Self Storage in Harrisburg, PA: Top Tips
Before beginning your self storage search in Harrisburg, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Harrisburg, 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 Harrisburg to give you a better idea of these factors.Moving and Storage in Harrisburg, PA
Many people use storage as part of their move, so if there are many people moving to Harrisburg, you might expect storage prices to be higher and unit availability to be lower. By looking at population changes in Harrisburg, we should be able to get an idea of how many people are moving to or from the city. US Census data tells us that the Harrisburg metro area's population shrank from 49,510 in 2010 to 49,082 in 2014, a decline of -0.86%.Self Storage and Real Estate in Harrisburg, PA
Harrisburg housing prices and land values can affect storage prices as well. Storage facilities in more expensive Harrisburg neighborhoods will typically charge higher rental rates. By looking into US Census data on Harrisburg housing values and median rents, we can get a better idea of the real estate climate in Harrisburg and how it may affect self storage. Census data tells us that the median home value in Harrisburg is $169,200, which is lower than the average median home value among the top 100 US metros. Between 2009 and 2013 the median home value in Harrisburg grew by 9.09%. Also, considering the fact that the median income in Harrisburg makes up 33.77% of the median home value, we can say that housing in Harrisburg is more affordable than other US metros. 69% of Harrisburg homes are owner occupied, a higher percentage than other big cities.
In terms of rental rates, median rent in Harrisburg is $837 per month, which is lower than other large US metros. Between 2005 and 2013, the median rent in Harrisburg grew by 15.29%, a higher rate than comparable cities. How affordable is that for median earners in Harrisburg? Median rent would take up 17.58% of a median earner's paycheck in Harrisburg, making it more affordable for renters than other big cities. Approximately 28% of occupied housing in Harrisburg is being rented out, a lower rate than comparable cities.
Since self storage is also used in situations where people don't have enough space in their home, cities where homes are generally smaller may have a greater need for storage. Harrisburg homes have a median number of 6.7 rooms, which is a higher number than the average for large US cities. The median price per room in Harrisburg is $25,254, which is lower 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 Harrisburg. High occupancy rates can indicate a lack of housing supply in Harrisburg, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Harrisburg area. 15.1% of housing units in Harrisburg are vacant according to the US Census, while 84.9% are occupied. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Harrisburg also have higher than average occupancy rates. High occupancy rates in Harrisburg will make it more difficult to find a good deal on a storage unit.Harrisburg, PA Self Storage Prices and Economics
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Harrisburg can be particularly helpful if you're moving from another city. Harrisburg's median income is estimated to be $57,139, which is higher than average for large US cities. Between 2009 and 2013, median income in Harrisburg grew by 3.7%. 3.8% of residents in Harrisburg make over $200k in income a year, a lower rate than in other big cities. Harrisburg's GDP as of 2013 was $29,957,000,000, which gives it a GDP per capita of $53,695. That's a higher per capita GDP than the average for large cities in the United States. Wealth and education are also highly correlated. 35% of Harrisburg residents over the age of 18 have a high school diploma, 17% have a college degree, and 10% have a graduate or professional degree.