Everything You Need to Know About Finding Self Storage in Petersburg, VA
There are a few things you should know about Petersburg self storage before you begin your search. Storage unit prices and availability in Petersburg 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 Petersburg, we pulled in data from the US Census.Self Storage and Moving in Petersburg, VA
Many people use storage as part of their move, so if there are many people moving to Petersburg, you might expect storage prices to be higher and unit availability to be lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Petersburg we can get a better idea of the amount of moving activity. From 2010 to 2014, the Petersburg metro area population grew from 32,573 to 32,701, a growth rate of 0.39% according to the US Census.The Relationship Between Real Estate and Self Storage in Petersburg, VA
Vacancy and occupancy rates in the Petersburg housing market can help us gauge the demand for living space and thus self-storage space in Petersburg, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Petersburg, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Petersburg area. The US Census estimates that housing vacancy rates in Petersburg are at 16.5%, while the occupancy rate is at 83.5%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Petersburg, suggesting that storage unit inventory might also be tighter in Petersburg. With fewer units available, storage facilities in Petersburg may charge higher prices.