There are a few things you should know about Monroe self storage before you begin your search. If you're wondering how much you should expect to pay for self storage in Monroe, 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 Monroe, we pulled in data from the US Census.
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 Monroe, that could affect storage unit pricing and availability. By looking at population changes in Monroe, we should be able to get an idea of how many people are moving to or from the city. According to the US Census, the Monroe metro area's population grew from 13,273 in 2010 to 13,664 in 2014, a growth rate of 2.95%.
One way to get an idea of the demand for housing and storage space in Monroe is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Monroe, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Monroe area. The US Census estimates that housing vacancy rates in Monroe are at 14.9%, while the occupancy rate is at 85.1%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Monroe may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Monroe than in other cities.
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