Finding Self Storage in Nashville, TN: Top Tips
Before beginning your self storage search in Nashville, there are a few things you should know. Nashville storage unit prices and availability are closely related to things like real estate prices, the type of housing available in the area, the city's wealth, and whether or not many people are moving to the area. In order to give you a better idea of these factors in Nashville, we pulled in data from the US Census.The Real Estate Climate and Self Storage in Nashville, TN
The Nashville real estate climate may affect storage prices and availability in a number of ways, one of those ways being housing prices. We can get a better idea of the relative cost of Nashville storage by looking into data on local home values and rental rates provided by the US Census. According to the US Census, the median value of a home in Nashville is $171,800, which is lower than the average for the top 100 US metros. Between 2009 and 2013 the median home value in Nashville grew by 4.25%. Also, considering the fact that the median income in Nashville makes up 30.55% of the median home value, we can say that housing in Nashville is more affordable than other US metros. 66% of the housing stock in Nashville is owner occupied, a higher rate than other major American cities.
In terms of rental rates, median rent in Nashville is $834 per month, which is lower than other large US metros. Between 2005 and 2013, the median rent in Nashville grew by 11.65%, a higher rate than comparable cities. The median rent in Nashville would eat up approximately 19% of the median income, which makes Nashville more affordable for most renters than comparable cities. Renters occupy approximately 32% of housing in Nashville, a lower rate than similar cities.
Cities where homes tend to be smaller may have a greater need for extra storage space. Homes in Nashville have a median number of 6.6 rooms, which is higher than the average for large US metros. The median price per room in Nashville is $26,030, which is lower than average among the top US metro areas.Nashville, TN Self Storage Prices and Economics
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Nashville can be particularly helpful if you're moving from another city. According to the most recent US Census data, median income in Nashville is $52,481, which is lower than the average for the top 100 US metro areas. Between 2009 and 2013, median income in Nashville grew by 2.2%. 4.4% of those living in Nashville make over $200,000 a year, a lower rate than the average for the top 100 US metros. According to the latest US Census reports, Nashville has a GDP of $95,124,000,000 and a per capita GDP of $54,091. That GDP per capita is higher than it is for comparable cities. Education levels also tend to correlate with wealth. 29% of Nashville residents over the age of 18 have a high school diploma, 19% have a college degree, and 9% have a graduate or professional degree.