Tips for Finding Self Storage in Newport Beach, CA
Just starting your Newport Beach self storage search? There are a few things you should know. Storage unit prices and availability in Newport Beach are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. In order to give you a better idea of these factors in Newport Beach, we pulled in data from the US Census.Newport Beach, CA Self Storage and Moving
If there are many people moving to or from Newport Beach, 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 Newport Beach by looking at the change in population. From 2010 to 2014, the Newport Beach metro area population grew from 85,364 to 87,266, a growth rate of 2.23% according to the US Census.The Relationship Between Real Estate and Self Storage in Newport Beach, CA
Housing occupancy and vacancy rates in Newport Beach can help us get a better idea of how much demand there is for living and storage space in Newport Beach and thus the kind of storage prices and availability we should expect to find. If housing occupancy rates in Newport Beach are high, it's probably safe to assume that storage facility occupancy rates in Newport Beach are also high, which would push unit prices up. The US Census estimates that housing vacancy rates in Newport Beach are at 12.3%, while the occupancy rate is at 87.7%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Newport Beach also have higher than average occupancy rates. High occupancy rates in Newport Beach will make it more difficult to find a good deal on a storage unit.