Just starting your West Melbourne self storage search? There are a few things you should know. If you're wondering how much you should expect to pay for self storage in West Melbourne, 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. We used US Census data on West Melbourne to give you a better idea of these factors.
Many people use storage as part of their move, so if there are many people moving to West Melbourne, you might expect storage prices to be higher and unit availability to be lower. By looking at population changes in West Melbourne, we should be able to get an idea of how many people are moving to or from the city. The US Census tells us that the metro area population of West Melbourne grew from 18,439 in 2010 to 20,078 in 2014, which is a rate of 8.89% growth over four years.
One way to get an idea of the demand for housing and storage space in West Melbourne is to look at housing occupancy and vacancy rates. Low rates of vacancy in West Melbourne housing could indicate that real estate is in short supply. Self storage units in West Melbourne may then also be in short supply, which means West Melbourne storage unit prices may be higher. The US Census estimates that housing vacancy rates in West Melbourne are at 13.2%, while the occupancy rate is at 86.8%. That's a higher rate than average for US cities, suggesting storage unit occupancy in West Melbourne may also be higher. That might make it harder to find cheap storage in West Melbourne.
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