Before beginning your self storage search in Rahway, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Rahway, 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Rahway.
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 Rahway, that could affect storage unit pricing and availability. We can get a good idea of whether or not many people are moving to or from Rahway by looking at the change in population. From 2010 to 2014, the Rahway metro area population grew from 27,485 to 28,528, a growth rate of 3.79% according to the US Census.
One way to get an idea of the demand for housing and storage space in Rahway is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Rahway, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Rahway area. Rahway is estimated to have a 93.2% housing occupancy rate, while the vacancy rate is at 6.8%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Rahway may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Rahway than in other cities.
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