Finding Self Storage in Lakeville, MN: Everything You Need To Know
Just starting your Lakeville self storage search? There are a few things you should know. Storage unit prices and availability in Lakeville are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Lakeville.Moving and Storage in Lakeville, MN
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 Lakeville, that could affect storage unit pricing and availability. Population changes over time are one way of gauging the amount of moving activity in Lakeville. From 2010 to 2014, the Lakeville metro area population grew from 56,106 to 59,866, a growth rate of 6.7% according to the US Census.The Relationship Between Real Estate and Self Storage in Lakeville, MN
Vacancy and occupancy rates in the Lakeville housing market can help us gauge the demand for living space and thus self-storage space in Lakeville, and may hint at storage availability and pricing. Low rates of vacancy in Lakeville housing could indicate that real estate is in short supply. Self storage units in Lakeville may then also be in short supply, which means Lakeville storage unit prices may be higher. According to US Census estimates, 96% of housing units in Lakeville are occupied, while the vacancy rate is at 4%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Lakeville also have higher than average occupancy rates. High occupancy rates in Lakeville will make it more difficult to find a good deal on a storage unit.