Before beginning your self storage search in Newark, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Newark, 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 Newark.
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 Newark, that could affect storage unit pricing and availability. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Newark we can get a better idea of the amount of moving activity. The US Census tells us that the metro area population of Newark grew from 31,519 in 2010 to 33,008 in 2014, which is a rate of 4.72% growth over four years.
Vacancy and occupancy rates in the Newark housing market can help us gauge the demand for living space and thus self-storage space in Newark, and may hint at storage availability and pricing. Low rates of vacancy in Newark housing could indicate that real estate is in short supply. Self storage units in Newark may then also be in short supply, which means Newark storage unit prices may be higher. 6.1% of housing units in Newark are vacant according to the US Census, while 93.9% are occupied. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Newark may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Newark than in other cities.
(877) 449-0987(Se habla espanol)
2020 © Self Storage Finders. All Rights Reserved.