There are a few things you should know about Waterloo self storage before you begin your search. Storage unit prices and availability in Waterloo 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 Waterloo.
Many people use storage as part of their move, so if there are many people moving to Waterloo, you might expect storage prices to be higher and unit availability to be lower. We can get a good idea of whether or not many people are moving to or from Waterloo by looking at the change in population. The US Census tells us that the metro area population of Waterloo grew from 3,331 in 2010 to 3,345 in 2014, which is a rate of 0.42% growth over four years.
One way to get an idea of the demand for housing and storage space in Waterloo is to look at housing occupancy and vacancy rates. High occupancy rates can indicate a lack of housing supply in Waterloo, which may correlate to a lack of storage unit inventory and thus higher rental rates for self storage in the Waterloo area. According to US Census estimates, 94.5% of housing units in Waterloo are occupied, while the vacancy rate is at 5.5%. The average occupancy rate in US cities is 89%, so it's likely the case that storage facilities in Waterloo also have higher than average occupancy rates. High occupancy rates in Waterloo will make it more difficult to find a good deal on a storage unit.
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