Before beginning your self storage search in Torrington, there are a few things you should know. If you're wondering how much you should expect to pay for self storage in Torrington, 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. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Torrington.
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 Torrington, prices could be higher and availability lower. We can get a good idea of whether or not many people are moving to or from Torrington by looking at the change in population. The US Census tells us that the metro area population of Torrington declined from 36,334 in 2010 to 35,190 in 2014, a loss of -3.15%.
Housing unit occupancy can give us an idea of what the demand is like for living and storage space in Torrington. High occupancy rates can indicate a lack of housing supply in Torrington, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Torrington area. 9.1% of housing units in Torrington are vacant according to the US Census, while 90.9% are occupied. That's a lower vacancy rate than the average for cities in the United States, and suggests that storage facility vacancy in Torrington may also be lower. Low vacancy allows storage facilities to charge higher rent, so a cheap storage unit could be trickier to find in Torrington than in other cities.
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