Everything You Need to Know About Finding Self Storage in Newark, OH
Before beginning your self storage search in Newark, there are a few things you should know. The pricing and availability of storage units in Newark will depend on several factors such as the real estate climate, the number of people moving into or throughout the area, housing conditions in the city, and the general wealth and prosperity of the area. We used US Census data on Newark to give you a better idea of these factors.Newark, OH Self Storage and Moving
If there are many people moving to or from Newark, prices could be higher than in other cities. That's because self storage if often used as part of a home move. 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 Newark metro area grew from 47,639 persons in 2010 to 47,839 persons in 2014 according to the US Census, an increase of 0.42%.The Relationship Between Real Estate and Self Storage in Newark, OH
One way to get an idea of the demand for housing and storage space in Newark is to look at housing occupancy and vacancy rates. If there's low vacancy rates in Newark housing, there's likely low vacancy at Newark storage facilities. This would allow storage facilities in Newark to charge higher prices for their units. The US Census estimates that housing vacancy rates in Newark are at 9.7%, while the occupancy rate is at 90.3%. 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.