Self storage rates being as highly-dependent on the real estate market as they are, it should come as no surprise that prices can change dramatically within the space of a few miles. Storage facilities just on the periphery of your current search might have some great rental rates, and you'll only find them if you search a little more broadly. Sure, it might be more of a pain to drive to the facility, but hundreds of dollars in potential savings might alleviate that. However, if self-storage (often called mini storage or public self storage) in Bloomington is relatively cheap for the area then searching farther afield might do little good. So how do prices in Bloomington stack up to the rest of the state?
With its average price of $100.67 a month for a unit, Bloomington is the 3rd most expensive city for self-storage in the state of Indiana, which itself is the 27th most-expensive state for storage. When searching for storage in Bloomington, expect to pay $34.98 more than Indiana's average price of $65.69.
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. 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. In Indiana, the median income is $46,020.00 a year, which would make the average $100.67 unit in Bloomington cost 2.63% of a median earner's monthly income. As a percentage of income, storage in Bloomington is very expensive according to our scale, its relative price ranking in at the 88th percentile in Indiana.
When placed on a national scale and compared to cities across the country, storage prices in Bloomington are still very expensive, ranking at the 84th percentile in terms of relative expense. The national average monthly price of a storage unit is $72.15. Depending on the size of unit you rent and the time of year, you should expect to pay approximately $28.52 more than that for self storage in Bloomington.
It's hard to tell a good price on storage from a great one when you're unaware of how much self storage in Bloomington should cost in the first place. Storage prices can shift significantly from city-to-city, so knowing what's standard for an area can be difficult. But there's no need to worry: we here at SelfStorage.com have all the data to help you go into your storage search well-informed.
In Bloomington the average monthly rental rate for a storage unit is $100.67. If you have long term storage needs, keep in mind that that's an average price of $1208.04 a year. It's important to note here that that average price does include all standard storage unit sizes. Different unit sizes will of course go for very different prices. The standard sizes of storage available in Bloomington include 5x5, 5x10, 10x10, 10x15, 10x20 and 10x30. The average prices for each are:
|Storage Unit Size||Average Price in Bloomington, IN|
Some communities are home to plenty of storage businesses, offering those looking for storage a wide variety of choices, while other communities are less-well served and may need to expand their search into neighboring cities and suburbs. If I'm searching for storage in Bloomington, should I expect plenty of available storage facilities, or only a few?
12 storage facilities in Bloomington, IN are listed on SelfStorage.com's facility network. When compared to other cities in the state, Bloomington offers a slightly-higher number of facilities, 3 more than the state average of 9 per city. If we were to rank Bloomington among the other 29 cities in Indiana, it would come out as the 6th largest market for self storage, accounting for a surprising 4.48% of all facilities in the state. How does Bloomington fare against cities outside of Indiana? On a national scale, it still has more facilities than the average city, 3 more than the average 9, to be more precise.
But making comparisons between any cities, whether it be comparing Bloomington to its neighbors in Indiana or on a national scale, isn't a very fruitful excercise when we ignore a city's population. Bloomington, IN has approximately 71,939 inhabitants. Do the 12 storage businesses there offer the community enough storage space? For its population, Bloomington has a few more facilities than average. The average for cities with a population of 50,000 to 100,000 is 11 facilities, which of course is 1 less than the 12 in Bloomington. One might well argue that comparing Bloomington to cities of a like size doesn't necessarily show that there are a great number of facilities for the size of its population, and that a better measure would be facilities per capita. And indeed, per capita data seems to have opposed our findings. On a national scale, Bloomington ranks in the 43rd percentile for self-storage facilities per person, clearly indicating that most other cities on our network offer a greater number of storage businesses per capita. In other words, due to a relative lack of extra storage space, the 71,939 people living in Bloomington might have a harder time locating the right storage unit for them than they would in other cities. Even if we restrict our scope of comparison to the state level, Bloomington doesn't seem to offer its population as much storage space as other cities do, attaining a low rank in the 28th percentile for facilities per capita among cities in Indiana.
Lastly, census data shows that Bloomington is growing in population, though not as fast as the rest of its state. It saw a 1.2% increase from 2000 to 2010, a 5.4% less than the 6.6% growth that Indiana saw as a whole. Keep in mind, though, that while there's probably not as much demand generated by people moving into town as there is in other Indiana cities, Bloomington already has relatively fewer storage facilities for its size than many of those faster-growing cities.
Prices on self storage units can change dramatically from month to month over the course of the year, spiking higher or dipping lower depending on the season. The period between April and September is typically considered the high season for storage, while prices are lower the rest of the year, notably through October and March. Memorial Day weekend marks the definitive end to the low season. The following Tuesday is often so busy that it's popularly known as 'Crazy Tuesday' within the self storage industry. Cities with high proportions of university students may see more pronounced seasonal highs and lows, as many students book storage units during the summer.
Our data shows that the average price of a storage unit does not change throughout the year in Bloomington to the same degree as it does in most cities, so seasonality should be less of a hassle for those looking for storage in Bloomington. Even though you shouldn't have to worry as much about your rates changing later in the year, it's always best to lock in your rate with the facility if possible. Those looking for self storage in Bloomington will find the lowest prices in February, with its average price of $49. January, however, is the most expensive month, averaging $100.67.
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, Bloomington had an average home value of $159,900 which in the past year is up 0.027%.