Just starting your New Port Richey self storage search? There are a few things you should know. Storage unit prices and availability in New Port Richey 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 New Port Richey to give you a better idea of these factors.
If there are many people moving to or from New Port Richey, 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 Port Richey by looking at the change in population. According to the US Census, the New Port Richey metro area's population grew from 14,905 in 2010 to 15,527 in 2014, a growth rate of 4.17%.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in New Port Richey. High occupancy rates can indicate a lack of housing supply in New Port Richey, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the New Port Richey area. According to US Census estimates, 79.7% of housing units in New Port Richey are occupied, while the vacancy rate is at 20.3%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in New Port Richey 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 Port Richey than in other cities.
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