There are a few things you should know about Monterey self storage before you begin your search. Storage unit prices and availability in Monterey are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. We used US Census data on Monterey to give you a better idea of these factors.
One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Monterey, prices could be higher and availability lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Monterey we can get a better idea of the amount of moving activity. The US Census tells us that the metro area population of Monterey grew from 27,439 in 2010 to 28,276 in 2014, which is a rate of 3.05% growth over four years.
Vacancy and occupancy rates in the Monterey housing market can help us gauge the demand for living space and thus self-storage space in Monterey, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Monterey, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Monterey area. 10.3% of housing units in Monterey are vacant according to the US Census, while 89.7% are occupied. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Monterey may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Monterey than in other cities.
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