If you're new to searching for self storage in Merced you might not know what kind of prices should be expected. Past experience booking storage in other cities can be misleading, as average prices will be totally different in other cities--even other cities in CA. In order to help you go into your storage search with the right knowledge, the analysts here at SelfStorage.com have crunched the numbers and processed the data so that you can know what kind of rental rates to expect.
The average rental rate of a self storage unit in Merced is $44 a month. That monthly rental rate would come out to a yearly price of about $528, should you be thinking of renting for that length of time. It must be noted that that rate averages all sizes of units in Merced, and so shouldn't necessarily be used as a definitive yardstick during your search. Units of different square footage can go for hundreds of dollars more or less than others, even in the same storage facility. Self storage in Merced comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard unit size, the average rental rate in Merced is:
|Storage Unit Size||Average Price in Merced, CA|
Over the course of your search you'll likely be comparing a number of facilities against one another to find the right option for you. Most would agree that the more storage businesses there are to compare, the better. After all, who doesn't like options? So how many storage facilities are there in Merced?
Based on our data, we estimate that there are about 9 storage facilities doing business in the Merced, CA area. 9 facilities is also the average number found in both cities in California and cities nationwide. Among the 253 cities in California, Merced has the 81st-highest facility count, with 0.42% of the state's storage facilities.
Since, however, there are huge disparities in population between Merced and other cities in California, comparing the number of storage businesses in each tells us very little. Are the 9 facilities in Merced sufficient at supplying the 76,273 people who call it home with enough extra storage space? Cities of similar size, as it turns out, offer more storage space than Merced does. The average number of facilities for a city in the 50,000 to 100,000 population bracket is 11, which is 2 more than can be found in Merced. Per capita measures seem to have supported our conclusion that Merced is in possession of few storage businesses for its size. The 9 facilities in Merced for its 76,273 residents rank it in the 31st percentile for storage facilities per capita among cities across America. That's a relatively-low rank, and seems to indicate that there's not a whole lot of extra storage space in Merced for those 76,273 people living there. But when we compare Merced to other cities in California, we get a different story. Among these Merced ranks in the 54th percentile, meaning that it actually has a high amount of storage space for cities in California.
Another thing about Merced we feel we should mention is that it's growing, and rapidly, having seen its population increase by 17.9% between the 2000 and 2010 census, a 7.9% higher growth rate than the 10% the state of California experienced as a whole. 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 Merced, accompanied by high prices and low availability.
The self storage market being of a seasonal nature, the prices on offer at the moment could be substantially different from those you'll see two months from now. The high season lasts from late spring to late summer, the most popular period for those moving into a new home. Sometimes called 'National Moving Day' or 'Crazy Tuesday', the day following Memorial Day is typically the busiest for storage businesses and the highest point of the high season. 5x5 and 5x10 units often see wider seasonal swings, primarily due to college students renting these smaller sizes when they leave town for the summer. College towns will be particularly affected by this.
Merced experiences higher-than-average price fluctuations. Though seasonality is not as salient here as in other cities, significant seasonal changes should be expected. If you know how long you'll be renting your unit, one way of avoiding seasonal price changes is by agreeing to pay a single rate for your entire stay. With its average price of $20, December is the cheapest month to book storage in Merced. With an average price of $112.33, September is the most expensive month to rent storage in Merced.
It's often the case that storage prices can swing to the opposite end of the spectrum within a few blocks in the same city, just as real estate values are liable to do. The more expansive your search, the more facilities you'll be able to compare, and the more options you'll have. The extra drive to the facility could very well be worth the monthly savings. However, if self-storage (often called mini storage or public self storage) in Merced is relatively cheap for the area then searching farther afield might do little good. So how do prices in Merced stack up to the rest of the state?
With its average price of $44 a month for a unit, Merced is the 222nd most expensive city for self-storage in the state of California, which itself is the 9th most-expensive state for storage. In more exact terms, storage in Merced costs an average of $47.36 less than the average storage unit in California, which goes for 91.36.
These average prices don't necessarily tell you how affordable storage in one city is compared to another, as the cost of living changes from place to place. In order to establish some kind of index of affordability for Merced storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. The median income in California is $54,681.00, which means the average storage unit in Merced would require 0.97% of a median earner's monthly income. Compared to the price of storage as a percent of income in all California cities, Merced ranks at the 12th percentile, which means that self-storage here is very affordable.
If we measure according to the national scale and compare it to cities across the country, self-storage rates in Merced are still very cheap, ranking at the 14th percentile in terms of relative expense. Expect to pay $28.15 less than the national average of $72.15 when searching for self storage in Merced.
Prices on self storage in Merced can change substantially with a few minutes drive in any direction. The 95340 ZIP code offers the best rates on storage in Merced, with an average price of $82.80 a month. Storage prices are highest within the 95341 ZIP code of Merced, where rentals average $87.14 a month.
Attempting to find an extremely inexpensive self storage unit in Merced, CA? December is when prices are lowest on storage, while the least expensive area for storage is the 95340 ZIP code. The worst time of the year to look for storage is September, when units are at their highest average price, and be attentive to the fact that the 95341 area is pricier than other areas.
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, Merced had an average home value of $158,000 which in the past year is up 0.314%.