Just starting your Oronoco self storage search? There are a few things you should know. The pricing and availability of storage units in Oronoco 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. In order to give you a better idea of these factors in Oronoco, we pulled in data from the US Census.
If there are many people moving to or from Oronoco, prices could be higher than in other cities. That's because self storage if often used as part of a home move. Population changes over time are one way of gauging the amount of moving activity in Oronoco. The US Census tells us that the metro area population of Oronoco grew from 1,300 in 2010 to 1,411 in 2014, which is a rate of 8.54% growth over four years.
Vacancy and occupancy rates in the Oronoco housing market can help us gauge the demand for living space and thus self-storage space in Oronoco, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Oronoco, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Oronoco area. According to US Census estimates, 94.5% of housing units in Oronoco are occupied, while the vacancy rate is at 5.5%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Oronoco may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Oronoco than in other cities.
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