Tips for Finding Self Storage in Oxnard, CA
Before beginning your self storage search in Oxnard, there are a few things you should know. Storage unit prices and availability in Oxnard 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 Oxnard, we pulled in data from the US Census.Self Storage and Moving in Oxnard, CA
One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Oxnard, prices could be higher and availability lower. Population changes over time are one way of gauging the amount of moving activity in Oxnard. According to the US Census, the Oxnard metro area's population grew from 198,452 in 2010 to 205,437 in 2014, a growth rate of 3.52%.The Real Estate Climate and Self Storage in Oxnard, CA
In Oxnard, 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. We can get a better idea of the relative cost of Oxnard storage by looking into data on local home values and rental rates provided by the US Census. With a median home value of $442,200 according to the US Census, Oxnard real estate prices are higher than the average for the top 100 US metros. In the 5 year span from 2009 to 2013, median home values in Oxnard declined by -25.46%. The median income in Oxnard makes up 17.31% of the median home value, which indicates that housing in Oxnard is less affordable than in other large cities. In Oxnard, 65% of homes are occupied by their owner, a lower portion than other big American cities.
In terms of rental rates, median rent in Oxnard is $1,470 per month, which is higher than other large US metros. Between 2005 and 2013, the median rent in Oxnard grew by 8.89%, a lower rate than comparable cities. The median rent in Oxnard would eat up approximately 23% of the median income, which makes Oxnard less affordable for most renters than comparable cities. 31% of Oxnard housing stock is renter occupied, a lower percentage than other large US cities.
Cities where homes tend to be smaller may have a greater need for extra storage space. Homes in Oxnard have a median number of 6.4 rooms, which is lower than the average for large US metros. The median price per room in Oxnard is $69,094, which is higher than average among the top US metro areas.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Oxnard. Low rates of vacancy in Oxnard housing could indicate that real estate is in short supply. Self storage units in Oxnard may then also be in short supply, which means Oxnard storage unit prices may be higher. 5.6% of housing units in Oxnard are vacant according to the US Census, while 94.4% are occupied. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Oxnard, suggesting that storage unit inventory might also be tighter in Oxnard. With fewer units available, storage facilities in Oxnard may charge higher prices.Self Storage Prices and Economics in Oxnard, CA
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Oxnard can be particularly helpful if you're moving from another city. The median income in Oxnard is $76,544, which is higher than the average for large US cities. Between 2009 and 2013, median income in Oxnard grew by 2.29%. 9.4% of the population in Oxnard make over $200,000 a year, a higher proportion than in other large cities. The US Census reports that Oxnard's total GDP is $41,737,000,000 and its GDP per capita is $49,629. That's a higher GDP per capita than the average for comparable cities. Wealth and education are also highly correlated. 20% of Oxnard residents over the age of 18 have a high school diploma, 18% have a college degree, and 10% have a graduate or professional degree.