Finding Self Storage in Stockton, CA: Everything You Need To Know
Just starting your Stockton self storage search? There are a few things you should know. The pricing and availability of storage units in Stockton 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 Stockton, we pulled in data from the US Census.Self Storage and Moving in Stockton, CA
Many people use storage as part of their move, so if there are many people moving to Stockton, 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 Stockton we can get a better idea of the amount of moving activity. According to the US Census, the Stockton metro area's population grew from 292,598 in 2010 to 302,389 in 2014, a growth rate of 3.35%.Real Estate and Self Storage in Stockton, CA
In Stockton, like any city, the real estate climate can affect the prices and availability at storage facilties in a number of ways, one of those being the cost of housing. The US Census provides us with housing value and median rent data for Stockton which we can use to get a better idea of what to expect in terms of price and availability for Stockton self storage. Census data tells us that the median home value in Stockton is $208,000, which is higher than the average median home value among the top 100 US metros. Between 2009 and 2013 the median home value in Stockton declined by -41.41%. Also, considering the fact that the median income in Stockton makes up 25.66% of the median home value, we can say that housing in Stockton is less affordable than other US metros. 58% of Stockton homes are owner occupied, a lower percentage than other big cities.
Median rent is $1,026 in Stockton according to the US Census, a higher rate than other sizeable US cities. Between 2005 and 2013, the median rent in Stockton grew by 8.11%, a lower rate than comparable cities. The median rent in Stockton would eat up approximately 23% of the median income, which makes Stockton less affordable for most renters than comparable cities. 37% of Stockton housing is renter occupied, a higher rate than other major metros.
Another way housing may affect storage demand is in the general size of homes in that city, with areas where homes are smaller often having a greater need for extra storage space. The median number of rooms per home in Stockton is 6.2, which is lower than the average among the top 100 US metros. The median price per room in Stockton is $33,548, which is higher than average among the top US metro areas.
One way to get an idea of the demand for housing and storage space in Stockton is to look at housing occupancy and vacancy rates. If housing occupancy rates in Stockton are high, it's probably safe to assume that storage facility occupancy rates in Stockton are also high, which would push unit prices up. According to US Census estimates, 90.9% of housing units in Stockton are occupied, while the vacancy rate is at 9.1%. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Stockton may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Stockton than in other cities.Stockton, CA Self Storage Prices and Economics
Cities with a wealthier population and a faster-growing economy may see higher storage prices. Looking at economic statistics for Stockton can be particularly helpful if you're moving from another city. According to the most recent US Census data, median income in Stockton is $53,380, which is lower than the average for the top 100 US metro areas. From 2009 to 2013, median income in Stockton declined by -2.13%. 3.4% of the population in Stockton make over $200,000 a year, a lower proportion than in other large cities. According to the latest US Census reports, Stockton has a GDP of $20,603,000,000 and a per capita GDP of $29,223. That's a lower GDP per capita than the average for comparable cities. Wealth and education are also highly correlated. 27% of Stockton residents over the age of 18 have a high school diploma, 11% have a college degree, and 5% have a graduate or professional degree.