Finding Self Storage in Troy, MI: Everything You Need To Know
If you're searching for self storage in Troy, 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 Troy, 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. In order to give you a better idea of these factors in Troy, we pulled in data from the US Census.Self Storage and Moving in Troy, MI
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 Troy, prices could be higher and availability lower. We can get a good idea of whether or not many people are moving to or from Troy by looking at the change in population. The US Census tells us that the metro area population of Troy grew from 81,001 in 2010 to 83,107 in 2014, which is a rate of 2.6% growth over four years.The Relationship Between Real Estate and Self Storage in Troy, MI
Vacancy and occupancy rates in the Troy housing market can help us gauge the demand for living space and thus self-storage space in Troy, and may hint at storage availability and pricing. If there's low vacancy rates in Troy housing, there's likely low vacancy at Troy storage facilities. This would allow storage facilities in Troy to charge higher prices for their units. Troy is estimated to have a 93.3% housing occupancy rate, while the vacancy rate is at 6.7%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Troy also have higher than average occupancy rates. High occupancy rates in Troy will make it more difficult to find a good deal on a storage unit.