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Finding Self Storage in New London, CT: Top Tips

There are a few things you should know about New London self storage before you begin your search. If you're wondering how much you should expect to pay for self storage in New London, 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 London.

New London, CT Self Storage and Moving

Many people use storage as part of their move, so if there are many people moving to New London, you might expect storage prices to be higher and unit availability to be lower. We can get a good idea of whether or not many people are moving to or from New London by looking at the change in population. The New London metro area saw its population decline from 27,622 persons in 2010 to 27,374 persons in 2014 according to the US Census, a decrease of -0.9%.

Self Storage and Real Estate in New London, CT

Vacancy and occupancy rates in the New London housing market can help us gauge the demand for living space and thus self-storage space in New London, and may hint at storage availability and pricing. If housing occupancy rates in New London are high, it's probably safe to assume that storage facility occupancy rates in New London are also high, which would push unit prices up. New London is estimated to have a 87.6% housing occupancy rate, while the vacancy rate is at 12.4%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in New London 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 London than in other cities.