Just starting your Norfolk self storage search? There are a few things you should know. Norfolk storage unit prices and availability are closely related to things like real estate prices, the type of housing available in the area, the city's wealth, and whether or not many people are moving to the area. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Norfolk.
Many people use storage as part of their move, so if there are many people moving to Norfolk, you might expect storage prices to be higher and unit availability to be lower. We can get a good idea of whether or not many people are moving to or from Norfolk by looking at the change in population. The US Census tells us that the metro area population of Norfolk declined from 1,707 in 2010 to 1,655 in 2014, a loss of -3.05%.
Vacancy and occupancy rates in the Norfolk housing market can help us gauge the demand for living space and thus self-storage space in Norfolk, and may hint at storage availability and pricing. If housing occupancy rates in Norfolk are high, it's probably safe to assume that storage facility occupancy rates in Norfolk are also high, which would push unit prices up. 21% of housing units in Norfolk are vacant according to the US Census, while 79% are occupied. That's a higher rate than average for US cities, suggesting storage unit occupancy in Norfolk may also be higher. That might make it harder to find cheap storage in Norfolk.
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