Tips for Finding Self Storage in Palo Alto, CA
There are a few things you should know about Palo Alto self storage before you begin your search. Storage unit prices and availability in Palo Alto 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 Palo Alto, we pulled in data from the US Census.Moving and Storage in Palo Alto, CA
If there are many people moving to or from Palo Alto, prices could be higher than in other cities. That's because self storage if often used as part of a home move. By looking at population changes in Palo Alto, we should be able to get an idea of how many people are moving to or from the city. According to the US Census, the Palo Alto metro area's population grew from 64,590 in 2010 to 66,955 in 2014, a growth rate of 3.66%.Self Storage and Real Estate in Palo Alto, CA
Vacancy and occupancy rates in the Palo Alto housing market can help us gauge the demand for living space and thus self-storage space in Palo Alto, and may hint at storage availability and pricing. If housing occupancy rates in Palo Alto are high, it's probably safe to assume that storage facility occupancy rates in Palo Alto are also high, which would push unit prices up. 6.1% of housing units in Palo Alto are vacant according to the US Census, while 93.9% are occupied. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Palo Alto may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Palo Alto than in other cities.