Finding Self Storage in Lovington, NM: Everything You Need To Know
If you're searching for self storage in Lovington, there are a few things you should keep in mind. Lovington 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Lovington.Moving and Storage in Lovington, NM
Many people use storage as part of their move, so if there are many people moving to Lovington, you might expect storage prices to be higher and unit availability to be lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Lovington we can get a better idea of the amount of moving activity. The Lovington metro area grew from 10,993 persons in 2010 to 11,840 persons in 2014 according to the US Census, an increase of 7.7%.The Relationship Between Real Estate and Self Storage in Lovington, NM
Housing occupancy and vacancy rates in Lovington can help us get a better idea of how much demand there is for living and storage space in Lovington and thus the kind of storage prices and availability we should expect to find. Low rates of vacancy in Lovington housing could indicate that real estate is in short supply. Self storage units in Lovington may then also be in short supply, which means Lovington storage unit prices may be higher. The US Census estimates that housing vacancy rates in Lovington are at 9.7%, while the occupancy rate is at 90.3%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Lovington may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Lovington than in other cities.