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Tips for Finding Self Storage in Laurel, MD

Just starting your Laurel 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 Laurel, 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 Laurel, we pulled in data from the US Census.

Self Storage and Moving in Laurel, MD

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 Laurel, that could affect storage unit pricing and availability. We can get a good idea of whether or not many people are moving to or from Laurel by looking at the change in population. The US Census tells us that the metro area population of Laurel grew from 25,197 in 2010 to 26,160 in 2014, which is a rate of 3.82% growth over four years.

The Real Estate Climate and Self Storage in Laurel, MD

Vacancy and occupancy rates in the Laurel housing market can help us gauge the demand for living space and thus self-storage space in Laurel, and may hint at storage availability and pricing. Low rates of vacancy in Laurel housing could indicate that real estate is in short supply. Self storage units in Laurel may then also be in short supply, which means Laurel storage unit prices may be higher. The US Census estimates that housing vacancy rates in Laurel are at 7.9%, while the occupancy rate is at 92.1%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Laurel may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Laurel than in other cities.