It's nearly impossible to know what a good monthly rate on a storage unit is if you don't know what kind of prices to expect in Santa Fe Springs. Even though you may have booked storage units in other cities in the past, prices could be quite different in your current location, which makes it difficult to know what the standard price is. Which is precisely the reason we've had the SelfStorage.com analysts dig through all the data in order to bring back the crucial information you need to book a unit in Santa Fe Springs.
Storage businesses in Santa Fe Springs rent out their units at an average price of $136.78 a month. At that rate, staying in a unit for a year would cost about $1641.36, in case you need storage for a long period of time. Keep in mind though that prices for all unit sizes in Santa Fe Springs were included when calculating that figure, so comparing it any individual unit will do you little good. Units of different square footage can go for hundreds of dollars more or less than others, even in the same storage facility. The standard sizes of storage units available in Santa Fe Springs include 5x5, 5x10, 10x10, 10x15, and 10x20. The average monthly rental rates for each are:
|Storage Unit Size||Average Price in Santa Fe Springs, CA|
Changing seasonal demand often causes storage prices to swing between highs and lows during different parts of the year. The low season generally lasts from October through March, with prices kicking up in April and hitting their high from May to September. The day after Memorial Day (which those in the moving and storage industries often refer to as 'Crazy Tuesday') is typically seen as the start of the high season and is frequently the most expensive day to rent storage during that season. Cities with high proportions of university students may see more pronounced seasonal highs and lows, as many students book storage units during the summer.
There's not as much of a difference between prices during the high and low seasons in Santa Fe Springs as there is in other cities, meaning seasonality is less of a concern here. But even if price changes are less of a risk in Santa Fe Springs, locking in a rate is almost always a smart, safe move. February is the least expensive month for storage in Santa Fe Springs, with an average price of $43.5 for a storage unit. January is the most expensive month, when storage goes for an average rate of $136.78.
The more facilities there are in the area you're searching, the more options you'll have. So are there a large or small number of storage businesses operating in Santa Fe Springs?
Based on our data, we estimate that there are about 10 storage facilities doing business in the Santa Fe Springs, CA area. Other cities in California are home to an average 9 facilities, 1 less than Santa Fe Springs, meaning Santa Fe Springs's storage coverage is slightly-higher than average. This ranks Santa Fe Springs as the 69th largest storage market out of 253 California cities in terms of number of facilities, making up 0.46% of the state's total. When compared against the national average of 9 storage facilities in each city, Santa Fe Springs still offers a full 1 more than the average.
On the other hand, comparing the total number of storage facilities in one city to another irrespective of the number of people that live in each city makes little sense, even when we're comparing Santa Fe Springs to other cities in California. 17,071 people make Santa Fe Springs their home. Is 10 a relatively high or low number of storage facilities for such a population? The average number of facilities listed on our storage network in cities with populations of 10,000 to 25,000 is 6. As Santa Fe Springs's facility count beats that by 4, we can establish that Santa Fe Springs has a bit more storage space than average for a city its size. Santa Fe Springs's above average number of facilities seems to be supported when we look at the actual per capita number of facilities. On a per capita basis, Santa Fe Springs ranks in the 80th percentile for storage facilities compared with other cities nationwide, meaning there is a very high amount of storage space per person. And just as Santa Fe Springs ranks high for storage space per capita on a national scale, it also has a large number of storage businesses for a city in California, placing at the 95th percentile.
Finally, it also seems that Santa Fe Springs is undergoing a modest level of population growth. According to the US Census, Santa Fe Springs grew by 3.7% from 2000 to 2010, which, though not insignificant, is 6.3% less than the 10% growth California saw. Combine the fact that fewer people are moving to Santa Fe Springs relative to the rest of its state with the high number of storage facilities per capita and you get the recipe for a high supply, low demand storage market, making it a great place to search for and find a storage unit.
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. By widening the breadth of your search, you'll open yourself up to even more facilities and a greater range of possibilities. Sure, it might be more of a pain to drive to the facility, but hundreds of dollars in potential savings might alleviate that. That being said, if we can determine that self-storage (which also goes by mini storage and public storage) prices are lower in Santa Fe Springs than in other nearby cities, we can make it easier for you to decide whether or not to take the time on a wider search.
Santa Fe Springs is the 43rd most expensive city for self storage in the state of California, with the average price of a storage unit there coming in at $136.78. California itself is the 9th most expensive state for storage. To give you a better idea of what this means, Santa Fe Springs's average price is $45.42 more than the state average of $91.36.
But average prices don't necessarily tell you how affordable storage is in a given city, as money goes further in some states than it does in others. We use our 'relative price' scale to calculate the relative affordability of storage in a given area using the state median income. Given that the average price of a storage unit in Santa Fe Springs is $136.78 and the median income in California is $54,681.00 a year, we can determine that a storage unit would require 3% of a median earner's monthly paycheck. This is an extremely high percentage of income compared to other cities in California, ranking in at the 83rd percentile statewide. In other words, storage in Santa Fe Springs is nowhere near dirt cheap.
If we measure according to the national scale and compare it to cities across the country, self-storage rates in Santa Fe Springs are still very expensive, ranking at the 89th percentile in terms of relative expense. Expect to pay $64.63 more than the national average of $72.15 when searching for self storage in Santa Fe Springs.
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, Santa Fe Springs had an average home value of $395,000 which in the past year is up 0.118%.