Self Storage in Panama City Beach, FL: Frequently Asked Questions
How does the price of a storage unit in Panama City Beach compare with other cities?
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. The extra drive to the facility could very well be worth the monthly savings. But on the other hand, if we can show that self-storage (commonly known as mini storage or public self storage) is cheaper in Panama City Beach than its surroundings, there's no reason to waste time looking elsewhere.
Panama City Beach's average price of $63 a month for a unit ranks it as the 103rd most expensive city for self-storage in Florida, which itself ranks as the 15th most expensive state for storage. In more exact terms, storage in Panama City Beach costs an average of $15.63 less than the average storage unit in Florida, which goes for 78.63.
While average prices will give you a good idea of how much you should expect to spend, they don't necessarily tell us if storage is relatively affordable in that city. In order to establish some kind of index of affordability for Panama City Beach storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. In Florida, the median income is $45,281.00 a year, which would make the average $63 unit in Panama City Beach cost 1.67% of a median earner's monthly income. This is actually a moderately-low percentage of income to spend on a storage unit: compared to other cities in Florida it ranks at the 40th percentile.
In national terms, however, storage in Panama City Beach is actually on the opposite side of the specturm, ranking in at the 53rd percentile nationwide, making it somewhat expensive. Nationwide, storage costs an average $72.15 a month. Expect to pay about $9.15 less than that for self storage in Panama City Beach.
How much do storage businesses in Panama City Beach charge per month for a storage unit?
Scoring a great deal on a storage unit in Panama City Beach has everything to do with knowing what kind of price range to expect. You can't even use past experiences booking storage elsewhere, as average prices will be totally different in other cities, even other cities in FL. In order to prevent you from going into your storage search unprepared, we here at SelfStorage.com have prepared the numbers you need to know.
Expect to pay an average of $63 a month for a storage unit in Panama City Beach. For those looking for a long term storage solution, that's an average of $756 a year. Don't, however, take that number too seriously, as it doesn't discriminate by unit size. Different sizes of units can go for hundreds of dollars more or less than others, even in the same city. The standard sizes of storage available in Panama City Beach include 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. In Panama City Beach, the average price for each standard size is:
|Storage Unit Size||Average Price in Panama City Beach, FL|
Are self storage prices in Panama City Beach, FL lower in certain seasons? Should I book my unit in the spring, summer, fall or winter to get the best deal?
One of the most prominent factors involved with finding a cheap storage unit is the time of year you go searching for that unit, as storage prices change due to seasonal demand. This seasonality, which is primarily generated by national moving patterns, hits its zenith in the late spring and early summer, and its nadir in the fall and winter. The day following Memorial Day is typically the busiest of the high season, and is known in the industry as 'National Moving Day' and 'Crazy Tuesday for the number of people who decided to move and rent storage on that day. 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.
The difference between seasons is somewhat greater in Panama City Beach than it is elsewhere, meaning you should be more wary of seasonal effects. The best way to protect yourself from these high seasonal swings is by booking during the low season and locking in your rate. November is the most expensive month for storage in Panama City Beach, with an average price of $145.67. The cheapest prices on storage in Panama City Beach can be found during the month of October, where the average cost of a unit is $48.75.
Is there a sizeable supply of storage space available in Panama City Beach? Should I expand my search into nearby towns and suburbs?
A greater number of storage facilities equates to more available storage space, so the number of facilities operating in your city will be one of the most important factors in your storage search. In terms of the number of storage businesses in Panama City Beach, are there plenty of options available, or few?
According to the data on our facility network, there are 11 storage businesses operating in Panama City Beach, FL. How does that number compare to other communities? It's a full 1 facilities more than the average city in Florida, where there are an average 10 facilities in each city. Out of all 173 cities in Florida listed on the SelfStorage.com network, Panama City Beach ranks as the 44th-highest in terms of number of storage businesses, accounting for 0.67% of facilities. Panama City Beach isn't only a large storage market in terms of its state, either, as its 11 facilities give it 2 more than the national average of 9 facilities per city.
Of course, simply comparing cities irrespective of their various populations tells us very little about these cities, even when we're comparing Panama City Beach to other cities in Florida. 14,514 people make Panama City Beach their home. Is 11 a relatively high or low number of storage facilities for such a population? Considering that the average city that falls in the 10,000 to 25,000 population bracket has 6 self storage facilities, we can conclude that Panama City Beach, which boasts 5 more, has a fairly-high amount of storage space for its size. Panama City Beach's above average number of facilities seems to be substantiated when we look at the actual per capita number of facilities. On a national scale, Panama City Beach falls into the 86th percentile for self-storage facilities per capita, meaning that there is a comparatively-large amount of storage space for its 14,514 residents. And just as Panama City Beach ranks high for storage space per capita on a national scale, it also has a large number of storage businesses for a city in Florida, placing at the 87th percentile.
We feel we should also mention the fact that Panama City Beach has seen large population increases in the past decade, jumping 87.7% from 2000 to 2010. That's 70.1% more than the 17.6% growth the state of Florida saw in total. But though the people moving into Panama City Beach may generate more demand for storage units, remember that the city does have a high number of storage businesses per capita, which should help balance that added demand out.