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Finding Self Storage in New Britain, CT: Everything You Need To Know

Just starting your New Britain self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in New Britain, 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in New Britain.

New Britain, CT Self Storage and Moving

If there are many people moving to or from New Britain, 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 New Britain by looking at the change in population. The New Britain metro area saw its population decline from 73,240 persons in 2010 to 72,878 persons in 2014 according to the US Census, a decrease of -0.49%.

Real Estate and Self Storage in New Britain, CT

Vacancy and occupancy rates in the New Britain housing market can help us gauge the demand for living space and thus self-storage space in New Britain, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in New Britain, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the New Britain area. The US Census estimates that housing vacancy rates in New Britain are at 9.8%, while the occupancy rate is at 90.2%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in New Britain may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in New Britain than in other cities.