Finding Self Storage in Omaha, NE: Everything You Need To Know
If you're searching for self storage in Omaha, there are a few things you should keep in mind. Storage unit prices and availability in Omaha 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 Omaha, we pulled in data from the US Census.Omaha, NE Moving and Storage
If there are many people moving to or from Omaha, 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 Omaha we can get a better idea of the amount of moving activity. The Omaha metro area grew from 424,687 persons in 2010 to 446,599 persons in 2014 according to the US Census, an increase of 5.16%.Real Estate and Self Storage in Omaha, NE
In Omaha, like any city, the real estate climate can affect the prices and availability at storage facilties in a number of ways, one of those being the cost of housing. That means that looking into US Census data on Omaha home values and rents can help us get an idea of storage pricing. With a median home value of $145,900 according to the US Census, Omaha real estate prices are lower than the average for the top 100 US metros. Between 2009 and 2013 the median home value in Omaha grew by 5.12%. Housing in Omaha is more affordable than most other cities, with the median income making up 39.03% of the median home value. 67% of Omaha homes are owner occupied, a higher percentage than other big cities.
Median rent is $791 in Omaha according to the US Census, a lower rate than other sizeable US cities. Between 2005 and 2013, the median rent in Omaha grew by 11.25%, a higher rate than comparable cities. How affordable is that for median earners in Omaha? Median rent would take up 16.67% of a median earner's paycheck in Omaha, making it more affordable for renters than other big cities. Approximately 33% of occupied housing in Omaha is being rented out, a higher rate than comparable cities.
Another way housing may affect storage demand is in the general size of homes in that city, with areas where homes are smaller often having a greater need for extra storage space. The median number of rooms per home in Omaha is 6.9, which is higher than the average among the top 100 US metros. The median price per room in Omaha is $21,145, which is lower than average among the top US metro areas.
Housing occupancy and vacancy rates in Omaha can help us get a better idea of how much demand there is for living and storage space in Omaha and thus the kind of storage prices and availability we should expect to find. If housing occupancy rates in Omaha are high, it's probably safe to assume that storage facility occupancy rates in Omaha are also high, which would push unit prices up. Omaha is estimated to have a 91.6% housing occupancy rate, while the vacancy rate is at 8.4%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Omaha may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Omaha than in other cities.Self Storage Prices and Economics in Omaha, NE
The local economy will also have an effect on self storage prices. Wealthier cities will likely have higher storage unit prices than cities where incomes are generally lower, so it may be useful to look at these numbers for Omaha, particularly if you're moving in from another city. Median earners in Omaha make $56,943 a year according to the most recent US Census estimates, a higher median pay than the average for large US urban areas. Between 2009 and 2013, median income in Omaha grew by 6.52%. 3.8% of Omaha household have an income in excess of $200,000 a year, which is a lower rate than the average for large US cities. The US Census reports that Omaha's total GDP is $51,122,000,000 and its GDP per capita is $57,083. That's a higher per capita GDP than the average for large cities in the United States. Cities where the populace has a higher level of education are typically wealthier and more expensive. 25% of Omaha residents over the age of 18 have a high school diploma, 21% have a college degree, and 10% have a graduate or professional degree.