Before beginning your self storage search in Madison, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Madison, 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 Madison.
Many people use storage as part of their move, so if there are many people moving to Madison, you might expect storage prices to be higher and unit availability to be lower. By looking at population changes in Madison, we should be able to get an idea of how many people are moving to or from the city. The US Census tells us that the metro area population of Madison grew from 12,012 in 2010 to 12,035 in 2014, which is a rate of 0.19% growth over four years.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Madison. If there's low vacancy rates in Madison housing, there's likely low vacancy at Madison storage facilities. This would allow storage facilities in Madison to charge higher prices for their units. 12.8% of housing units in Madison are vacant according to the US Census, while 87.2% are occupied. That's a higher rate than average for US cities, suggesting storage unit occupancy in Madison may also be higher. That might make it harder to find cheap storage in Madison.
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