If you're searching for self storage in Santa Monica, there are a few things you should keep in mind. If you're wondering how much you should expect to pay for self storage in Santa Monica, 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. We used US Census data on Santa Monica to give you a better idea of these factors.
Many people use storage as part of their move, so if there are many people moving to Santa Monica, 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 Santa Monica we can get a better idea of the amount of moving activity. The Santa Monica metro area grew from 89,821 persons in 2010 to 92,987 persons in 2014 according to the US Census, an increase of 3.52%.
Vacancy and occupancy rates in the Santa Monica housing market can help us gauge the demand for living space and thus self-storage space in Santa Monica, and may hint at storage availability and pricing. If there's low vacancy rates in Santa Monica housing, there's likely low vacancy at Santa Monica storage facilities. This would allow storage facilities in Santa Monica to charge higher prices for their units. Santa Monica is estimated to have a 92.2% housing occupancy rate, while the vacancy rate is at 7.8%. That's a higher rate than average for US cities, suggesting storage unit occupancy in Santa Monica may also be higher. That might make it harder to find cheap storage in Santa Monica.
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