There are a few things you should know about Martinsville self storage before you begin your search. If you're wondering how much you should expect to pay for self storage in Martinsville, 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. We used US Census data on Martinsville to give you a better idea of these factors.
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 Martinsville, that could affect storage unit pricing and availability. Population changes over time are one way of gauging the amount of moving activity in Martinsville. From 2010 to 2014, the Martinsville metro area population fell from 11,803 to 11,744, a loss of -0.5% according to the US Census.
Vacancy and occupancy rates in the Martinsville housing market can help us gauge the demand for living space and thus self-storage space in Martinsville, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Martinsville, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Martinsville area. According to US Census estimates, 90.9% of housing units in Martinsville are occupied, while the vacancy rate is at 9.1%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Martinsville also have higher than average occupancy rates. High occupancy rates in Martinsville will make it more difficult to find a good deal on a storage unit.
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