Just starting your Lake Wales self storage search? There are a few things you should know. Lake Wales storage unit prices and availability are closely related to things like real estate prices, the type of housing available in the area, the city's wealth, and whether or not many people are moving to the area. The US Census keeps accurate data relating to all of these factors, so we've used their data on Lake Wales to help inform your Lake Wales self storage search.
If there are many people moving to or from Lake Wales, prices could be higher than in other cities. That's because self storage if often used as part of a home move. By looking at population changes in Lake Wales, we should be able to get an idea of how many people are moving to or from the city. The Lake Wales metro area grew from 14,230 persons in 2010 to 15,140 persons in 2014 according to the US Census, an increase of 6.39%.
Housing occupancy and vacancy rates in Lake Wales can help us get a better idea of how much demand there is for living and storage space in Lake Wales and thus the kind of storage prices and availability we should expect to find. If there's low vacancy rates in Lake Wales housing, there's likely low vacancy at Lake Wales storage facilities. This would allow storage facilities in Lake Wales to charge higher prices for their units. The US Census estimates that housing vacancy rates in Lake Wales are at 16.1%, while the occupancy rate is at 83.9%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Lake Wales, suggesting that storage unit inventory might also be tighter in Lake Wales. With fewer units available, storage facilities in Lake Wales may charge higher prices.
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