If you're searching for self storage in Salem, there are a few things you should keep in mind. Storage unit prices and availability in Salem 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 Salem, 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 Salem, that could affect storage unit pricing and availability. Population changes over time are one way of gauging the amount of moving activity in Salem. US Census data tells us that the Salem metro area's population shrank from 6,324 in 2010 to 6,236 in 2014, a decline of -1.39%.
Vacancy and occupancy rates in the Salem housing market can help us gauge the demand for living space and thus self-storage space in Salem, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Salem, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Salem area. 10.6% of housing units in Salem are vacant according to the US Census, while 89.4% are occupied. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Salem may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Salem than in other cities.
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