Before you start your storage search in Palatine, it's important that you know how much a unit in Palatine typically costs. Comparing rates at facilities you booked storage at in other cities can give the wrong expectations, as the average price for storage could be hundreds of dollars different in that location. Which is why, in order to ensure that you go into your storage search as well informed as possible, we've gone ahead and processed the data for you.
On average, storage facilities in Palatine charge a monthly rental rate of $91.4 for a storage unit. If your're in need of storage for a longer term, remember that at that rate a unit will cost you approximately $1096.8 a year. This average does include all storage unit sizes, which means that it should be taken with a grain of salt. You can easily end up paying up to or exceeding twice as much money for the larger units than the smaller sizes. Self storage in Palatine comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, and 10x20. Here are the average monthly rates for each standard unit size in Palatine:
|Storage Unit Size||Average Price in Palatine, IL|
Storage prices on one side of Palatine can be totally different on the other side of the city. The cheapest place for storage in Palatine is within the 60067 ZIP code, where prices average $126.44 a month. Palatine's highest-priced place for storage lies within the 60074 ZIP code, where storage rental rates are an average $161.80 a month.
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. Peaking in May through September, when most people in the United States move, and dropping to their lowest in October through March, when far fewer people move homes, storage prices and closely linked to moving patterns. The single busiest day for self-storage businesses is typically the notorious 'National Moving Day' (which facility operators have dubbed 'Crazy Tuesday' for the chaotic scene at many facilities) the day after Memorial 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.
Seasonal price effects are somewhat more noticeable in Palatine than in other cities, so expect a decent amount of change between high and low seasons. This makes it particularly important to find a unit at a good, low price, then to lock in that price for the duration of your stay. Those looking for self storage in Palatine will find the lowest prices in December, with its average price of $49. September, however, is the most expensive month, averaging $176.67.
More facilities in an area mean more options, with some cities offering storage-searchers a wide range and others one that's much more narrow. When it comes to the number of facilities operating in Palatine, how many options are available?
There are 4 total storage facilities in Palatine, IL on the SelfStorage.com network. On the state level, the average city in Illinois is home to approximately 5 self-storage businesses, meaning that Palatine, with 1 less than that, offers few facilties relative to the rest of its state. Palatine accounts for a mere 0.69% of facilities listed in Illinois and only ranks as the 119 largest city out of the state's 119 in terms of number of facilities. Palatine also has a below-average number of facilities when compared to cities on the national scale, where it's 5 below the national average of 9 storage facilities.
But of course, there are vast differences in population between Palatine and other cities in Illinois, and even more so nationwide, so not controlling for population makes little sense. Do the 4 self storage facilities in Palatine offer the 66,690 people living there enough extra storage space? How does Palatine compare to similarly-sized cities? Upon review, we found that Palatine's community does seem underserved for the size of its population. Among cities in the 50,000 to 100,000 population bracket, the average number of facilities per city is 11. That's 7 more than we find in Palatine, and makes a good case for the claim that there's relatively-low storage space. Palatine's below average number of facilities seems to be verified when we look at the actual per capita number of facilities. Compared to other cities listed on our national network, Palatine place in the 12th percentile for storage businesses per person. This clearly shows that 4 is a low number of facilities for a city of 66,690, meaning that finding the storage unit you need could be more challenging in Palatine than it is elsewhere. Is Palatine still relatively low on storage space compared to other cities in Illinois? Indeed, it seems as if it is, as Palatine only ranks in the 19th percentile for per capita storage space among cities in Illinois.
The fact that Palatine is growing, but not doing so at a particularly rapid rate, also bears mentioning in our discussion of storage facilities per person. The US Census reports that Palatine saw 0.5% more people move there in the first decade of this century. That's not insignificant, though it is 2.8% less than the 3.3% population that Illinois saw altogether. Keep in mind, though, that while there's probably not as much demand generated by people moving into town as there is in other Illinois cities, Palatine already has relatively fewer storage facilities for its size than many of those faster-growing cities.
Sometimes storage prices in the next town or suburb over are significantly cheaper than those in your immediate area. That's why those looking for the best deal on a storage unit should expand the area of their search as far and wide as possible. Depending on how often you'll need to access your unit, this could be the way to go. We've had our analysts go over the data on self-storage (sometimes known as public self storage or mini storage) in Palatine to see how it compares with other cities in its state.
An average price of $91.4 a month for a storage unit makes Palatine the 31st most expensive city in Illinois for self-storage, while Illinois itself is the 12th most expensive state. In general, storage units in Palatine go for $7.04 more than the state average of $84.36.
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. To give you a better idea of affordability, we've created a 'relative price' scale that estimates how expensive storage is for median income earners in that state. A storage unit in Palatine will on average cost 2.13% of a median earner's monthly income, given that the yearly median income in Illinois is $51,483.00. Compared to other cities in Illinois, this is a fairly-high percentage of income to spend on storage, ranking Palatine in the 73rd percentile statewide. This leads us to label the city as a somewhat expensive place to rent self-storage.
The same holds true on a national scale, where self-storage rates in Palatine are comparatively somewhat expensive, ranking in at the 72nd percentile among cities on our nationwide network. Nationwide, storage costs an average $72.15 a month. Expect to pay about $19.25 more than that for self storage in Palatine.
Trying to locate an exceedingly cheap self storage unit in Palatine, IL? December is the best time to search for storage, and you'll have the most success looking in the 60067 ZIP code. Do your best to avoid searching in September, when units are at their priciest, and beware that the 60074 area is the most expensive part of town for storage.
Palatine, IL self storage typically costs between $30 and $349 a month. Storage is currently in stock.
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, Palatine had an average home value of $225,000 which in the past year is up 0.174%.