Just starting your Island Lake 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 Island Lake, 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 Island Lake to give you a better idea of these factors.
Self storage is commonly used as a secure place to store one's belongings when moving into a new home. If there's a high amount of moving activity in Island Lake, that could affect storage unit pricing and availability. Population changes over time are one way of gauging the amount of moving activity in Island Lake. The US Census tells us that the metro area population of Island Lake declined from 8,083 in 2010 to 8,031 in 2014, a loss of -0.64%.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Island Lake. Low rates of vacancy in Island Lake housing could indicate that real estate is in short supply. Self storage units in Island Lake may then also be in short supply, which means Island Lake storage unit prices may be higher. The US Census estimates that housing vacancy rates in Island Lake are at 4.4%, while the occupancy rate is at 95.6%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Island Lake, suggesting that storage unit inventory might also be tighter in Island Lake. With fewer units available, storage facilities in Island Lake may charge higher prices.
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