There are a few things you should know about Newington self storage before you begin your search. The pricing and availability of storage units in Newington 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 Newington to give you a better idea of these factors.
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 Newington, that could affect storage unit pricing and availability. By looking at population changes in Newington, we should be able to get an idea of how many people are moving to or from the city. The US Census tells us that the metro area population of Newington grew from 30,570 in 2010 to 30,685 in 2014, which is a rate of 0.38% growth over four years.
One way to get an idea of the demand for housing and storage space in Newington is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Newington, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Newington area. 3.5% of housing units in Newington are vacant according to the US Census, while 96.5% are occupied. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Newington, suggesting that storage unit inventory might also be tighter in Newington. With fewer units available, storage facilities in Newington may charge higher prices.
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