Everything You Need to Know About Finding Self Storage in Somerville, MA
There are a few things you should know about Somerville self storage before you begin your search. Storage unit prices and availability in Somerville are determined by many different factors, including real estate, population growth, the wealth of the local population, the current economic climate, and more. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Somerville.Moving and Storage in Somerville, MA
One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Somerville, prices could be higher and availability lower. A city with a high amount of moving activity should see substantial changes in population, so by looking at population data for Somerville we can get a better idea of the amount of moving activity. The Somerville metro area grew from 75,757 persons in 2010 to 78,901 persons in 2014 according to the US Census, an increase of 4.15%.The Real Estate Climate and Self Storage in Somerville, MA
Vacancy and occupancy rates in the Somerville housing market can help us gauge the demand for living space and thus self-storage space in Somerville, and may hint at storage availability and pricing. High occupancy rates can indicate a lack of housing supply in Somerville, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Somerville area. The US Census estimates that housing vacancy rates in Somerville are at 4.8%, while the occupancy rate is at 95.2%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Somerville, suggesting that storage unit inventory might also be tighter in Somerville. With fewer units available, storage facilities in Somerville may charge higher prices.