Before beginning your self storage search in Princeton, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Princeton, 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. The US Census keeps accurate data relating to all of these factors, so we've used their data on Princeton to help inform your Princeton self storage search.
Many people use storage as part of their move, so if there are many people moving to Princeton, you might expect storage prices to be higher and unit availability to be lower. We can get a good idea of whether or not many people are moving to or from Princeton by looking at the change in population. The Princeton metro area saw its population decline from 8,638 persons in 2010 to 8,608 persons in 2014 according to the US Census, a decrease of -0.35%.
Vacancy and occupancy rates in the Princeton housing market can help us gauge the demand for living space and thus self-storage space in Princeton, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Princeton, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Princeton area. The US Census estimates that housing vacancy rates in Princeton are at 11.6%, while the occupancy rate is at 88.4%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Princeton may also be higher. That might make it harder to find cheap storage in Princeton.
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