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Finding Self Storage in Richmond, KY: Everything You Need To Know

There are a few things you should know about Richmond self storage before you begin your search. The pricing and availability of storage units in Richmond will depend on several factors such as the real estate climate, the number of people moving into or throughout the area, housing conditions in the city, and the general wealth and prosperity of the area. In order to give you a better idea of these factors in Richmond, we pulled in data from the US Census.

Self Storage and Moving in Richmond, KY

Many people use storage as part of their move, so if there are many people moving to Richmond, 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 Richmond by looking at the change in population. According to the US Census, the Richmond metro area's population grew from 32,055 in 2010 to 33,556 in 2014, a growth rate of 4.68%.

The Real Estate Climate and Self Storage in Richmond, KY

Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Richmond. If there's low vacancy rates in Richmond housing, there's likely low vacancy at Richmond storage facilities. This would allow storage facilities in Richmond to charge higher prices for their units. The US Census estimates that housing vacancy rates in Richmond are at 9.8%, while the occupancy rate is at 90.2%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Richmond may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Richmond than in other cities.