Just like real estate prices, prices on storage can be totally different in different parts of the same city. By expanding your search into areas you might not have thought to look, you might be able to happen upon some excellent deals. The extra drive to the facility could very well be worth the monthly savings. If the average price of self storage (which includes facilities called mini storage or public self storage) is higher in Irvine, then you'll definitely want to expand your search. So is it?
Irvine's average price of $134.95 a month for a unit ranks it as the 45th most expensive city for self-storage in California, which itself ranks as the 9th most expensive state for storage. When searching for storage in Irvine, expect to pay $43.59 more than California's average price of $91.36.
An average price alone, however, doesn't tell you if storage is or isn't more affordable in one city versus another, as the cost of living will also be different. That's why we've developed a 'relative price' scale that takes state median income into account. A storage unit in Irvine will on average cost 2.96% of a median earner's monthly income, given that the yearly median income in California is $54,681.00. When compared to storage price as a percent of income in other cities in California, Irvine ranks in the 82nd percentile, which means that self-storage here is quite expensive.
If we measure according to the national scale and compare it to cities across the country, self-storage rates in Irvine are still very expensive, ranking at the 89th percentile in terms of relative expense. Expect to pay $62.80 more than the national average of $72.15 when searching for self storage in Irvine.
Searching storage in Irvine without knowing how much a unit should cost is no way to go about finding a good price. With rental rates being as dependent upon the facility's location as they are, comparing prices at facilities in Irvine with those in other cities you might have rented a storage unit in in the past will do you little good. But don't worry: SelfStorage.com has all the data you need in order to go into your storage search well informed.
Storage units in Irvine rent at an average monthly rate of $134.95. That monthly rental rate would come out to a yearly price of about $1619.4, should you be thinking of renting for that length of time. Keep in mind though that prices for all unit sizes in Irvine were included when calculating that figure, so comparing it any individual unit will do you little good. Prices for the various unit sizes are, of course, very different from each other. The standard sizes of storage units available in Irvine include 5x5, 5x10, 10x10, 10x15, 10x20 and 10x30. Here are the average monthly rental rates for each size:
|Storage Unit Size||Average Price in Irvine, CA|
Successfully booking the storage unit you're looking for will have much to do with the number of self storage businesses in your city, as the more facilities there are the more options you'll have available. When it comes to the number of facilities operating in Irvine, how many options are available?
In total, 18 Irvine storage businesses have listed themselves on our self-storage facility network. Across California, approximately 9 facilities are located in each city on average, 9 less than the 18 available in Irvine, meaning Irvine is home to a few more facilities than the average city. It should come as no surprise then that Irvine has the 24th-highest count of facilities out of all 253 cities on our network in California, acting as home to 0.83% of facilities in California. But what about on a national scale? Even then, Irvine has more storage facilities than the average city, 9 more than the average 9, to be exact.
But making comparisons between any cities, whether it be comparing Irvine to its neighbors in California or on a national scale, isn't a very fruitful excercise when we ignore a city's population. How, then, does Irvine with its 209,716 people compare to cities of a like size? It just so happens that in being in possession of 18 facilities, Irvine is average for its size. The average for other cities with populations of 100,000 to 250,000 on our self-storage network is 18 each, making Irvine perfectly unexceptional. A more accurate way of measuring how much storage space there is for the 209,716 inhabitants of Irvine would be facilities per capita. With 18 storage businesses serving a community of 209,716, Irvine ranks in the 21st percentile for facilities per capita in cities nationwide. In other words, there's not a ton of extra storage space in Irvine, which may make your search for the perfect unit a more trying task. Even if we restrict our scope of comparison to the state level, Irvine doesn't seem to offer its population as much storage space as other cities do, attaining a low rank in the 36th percentile for facilities per capita among cities in California.
It also bears mentioning that Irvine saw a large amount of population growth in the past decade, growing by 42.9% from 2000 to 2010, a good 32.9% more growth than the 10% the state of California experienced over the same period. Add that high rate of population growth to a low number of storage businesses per capita and you have a recipe for some very high levels of storage demand in Irvine, accompanied by high prices and low availability.
If you’re considering buying/selling a home instead of renting, it’s crucial to find a storage unit that will last you through the purchase or sale process. Especially when, according to Zillow, Irvine had an average home value of $734,900 which in the past year is up 0.158%.