Before beginning your self storage search in Milford, there are a few things you should know. Storage unit prices and availability in Milford 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 Milford.
If there are many people moving to or from Milford, prices could be higher than in other cities. That's because self storage if often used as part of a home move. We can get a good idea of whether or not many people are moving to or from Milford by looking at the change in population. The Milford metro area grew from 541 persons in 2010 to 594 persons in 2014 according to the US Census, an increase of 9.8%.
One way to get an idea of the demand for housing and storage space in Milford is to look at housing occupancy and vacancy rates. If there's low vacancy rates in Milford housing, there's likely low vacancy at Milford storage facilities. This would allow storage facilities in Milford to charge higher prices for their units. Milford is estimated to have a 74.6% housing occupancy rate, while the vacancy rate is at 25.4%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Milford may also be higher. That might make it harder to find cheap storage in Milford.
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