Just starting your Park City self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in Park City, consider the fact that storage prices are closely related to factors like the real estate climate, the economic prospects of the city, and population growth. In order to give you a better idea of these factors in Park City, we pulled in data from the US Census.
Self storage is commonly used as a secure place to store one's belongings when moving into a new home. If there's a high amount of moving activity in Park City, that could affect storage unit pricing and availability. By looking at population changes in Park City, we should be able to get an idea of how many people are moving to or from the city. The US Census tells us that the metro area population of Park City grew from 7,359 in 2010 to 7,556 in 2014, which is a rate of 2.68% growth over four years.
Housing occupancy and vacancy rates in Park City can help us get a better idea of how much demand there is for living and storage space in Park City and thus the kind of storage prices and availability we should expect to find. If there's low vacancy rates in Park City housing, there's likely low vacancy at Park City storage facilities. This would allow storage facilities in Park City to charge higher prices for their units. The US Census estimates that housing vacancy rates in Park City are at 7.5%, while the occupancy rate is at 92.5%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Park City also have higher than average occupancy rates. High occupancy rates in Park City will make it more difficult to find a good deal on a storage unit.
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