Finding Self Storage in Kansas City, MO: Everything You Need To Know
Before beginning your self storage search in Kansas City, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Kansas City, 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Kansas City.Kansas City, MO Self Storage and Moving
Many people use storage as part of their move, so if there are many people moving to Kansas City, you might expect storage prices to be higher and unit availability to be lower. By looking at population changes in Kansas City, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Kansas City metro area population grew from 460,651 to 470,800, a growth rate of 2.2% according to the US Census.The Real Estate Climate and Self Storage in Kansas City, MO
Kansas City housing prices and land values can affect storage prices as well. Storage facilities in more expensive Kansas City neighborhoods will typically charge higher rental rates. We can get a better idea of the relative cost of Kansas City storage by looking into data on local home values and rental rates provided by the US Census. Census data tells us that the median home value in Kansas City is $158,300, which is lower than the average median home value among the top 100 US metros. The median home value in Kansas City grew by 2.13% between 2009 and 2013. Housing in Kansas City is more affordable than most other cities, with the median income making up 35.89% of the median home value. 67% of Kansas City homes are owner occupied, a higher percentage than other big cities.
Median rent is $827 in Kansas City according to the US Census, a lower rate than other sizeable US cities. Between 2005 and 2013, the median rent in Kansas City grew by 11.16%, a higher rate than comparable cities. That rental rate would take up 17% of a median earner's income in Kansas City, making Kansas City more affordable for renters than the average for the top 100 US metros. Approximately 30% of occupied housing in Kansas City is being rented out, a lower rate than comparable cities.
Self storage is commonly used when people need extra space, so cities where homes are smaller on average may have a greater need for storage space. In Kansas City, homes have a median number of 6.8 rooms, which is higher than the average for large US cities. The median price per room in Kansas City is $23,279, 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 Kansas City. If there's low vacancy rates in Kansas City housing, there's likely low vacancy at Kansas City storage facilities. This would allow storage facilities in Kansas City to charge higher prices for their units. According to US Census estimates, 86.7% of housing units in Kansas City are occupied, while the vacancy rate is at 13.3%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Kansas City may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Kansas City than in other cities.Kansas City, MO Economics and Self Storage Prices
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Kansas City can be particularly helpful if you're moving from another city. Median earners in Kansas City make $56,815 a year according to the most recent US Census estimates, a higher median pay than the average for large US urban areas. Between 2009 and 2013, median income in Kansas City grew by 2.54%. 4.2% of the population in Kansas City make over $200,000 a year, a lower proportion than in other large cities. Kansas City's GDP as of 2013 was $110,278,000,000, which gives it a GDP per capita of $53,654. That means that Kansas City's per capita GDP is higher than the average for the top 100 US metros. Cities where the populace has a higher level of education are typically wealthier and more expensive. 27% of Kansas City residents over the age of 18 have a high school diploma, 20% have a college degree, and 11% have a graduate or professional degree.