Before beginning your self storage search in Nashville, there are a few things you should know. Storage unit prices and availability in Nashville 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 Nashville 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 Nashville, that could affect storage unit pricing and availability. We can get a good idea of whether or not many people are moving to or from Nashville by looking at the change in population. US Census data tells us that the Nashville metro area's population shrank from 1,097 in 2010 to 1,076 in 2014, a decline of -1.91%.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Nashville. Low rates of vacancy in Nashville housing could indicate that real estate is in short supply. Self storage units in Nashville may then also be in short supply, which means Nashville storage unit prices may be higher. According to US Census estimates, 87.1% of housing units in Nashville are occupied, while the vacancy rate is at 12.9%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Nashville, suggesting that storage unit inventory might also be tighter in Nashville. With fewer units available, storage facilities in Nashville may charge higher prices.
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