Tips for Finding Self Storage in Hoffman Estates, IL
Just starting your Hoffman Estates self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in Hoffman Estates, 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. In order to give you a better idea of these factors in Hoffman Estates, we pulled in data from the US Census.Hoffman Estates, IL Moving and Storage
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 Hoffman Estates, 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 Hoffman Estates we can get a better idea of the amount of moving activity. According to the US Census, the Hoffman Estates metro area's population grew from 51,937 in 2010 to 52,347 in 2014, a growth rate of 0.79%.The Relationship Between Real Estate and Self Storage in Hoffman Estates, IL
One way to get an idea of the demand for housing and storage space in Hoffman Estates is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Hoffman Estates, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Hoffman Estates area. Hoffman Estates is estimated to have a 95.6% housing occupancy rate, while the vacancy rate is at 4.4%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Hoffman Estates may also be higher. That might make it harder to find cheap storage in Hoffman Estates.