Storage rental rates are highly seasonal, with prices often fluctuating widely throughout the year. 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 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. If you're looking for a storage unit in a location with a large student population, be aware that your high season might see an even greater lift in prices than elsewhere, as students often book a large number of units during the summer.
Seasonality seems to be a very low factor in Florence self storage prices, with little change between high and low season prices. Still, booking during the low season and locking in your price with the facility is an important part of getting a good deal on self storage. Storage prices are at their highest in Florence during the month of April, where they hit an average price of $113, while prices are at their lowest in January, where they go for a low $53.5 a month.
Finding the unit you need at the price you want has everything to do with what's available in your area, with more facilities offering more options. If I'm searching for storage in Florence, should I expect plenty of available storage facilities, or only a few?
Analysts at SelfStorage.com report that there are an estimated 4 storage facilities located in the Florence area. That's a very small number of facilties compared to what's on offer in other Kentucky cities, a full 12 fewer than the Kentucky average of 16 per city. Compared to the rest of the cities in Kentucky, Florence ranks quite low in terms of number of facilities (8th out of all 10 cities), with a meager 2.54% share of the total. The same goes when we put Florence on the national scale, where it has 5 facilities less than the national average of 9.
But making comparisons between any cities, whether it be comparing Florence to its neighbors in Kentucky or on a national scale, isn't a very fruitful excercise when we ignore a city's population. Are the 4 storage facilities providing the 28,381 people living in Florence with enough storage space? For a city its size, Florence is a bit below average when it comes to self storage facilities. Other cities in the 25,000 to 50,000 population bracket have an average 7 facilities, 3 more than the 4 on offer in Florence. Florence's below average number of facilities seems to be supported when we look at the actual per capita number of facilities. Florence's 4 self-storage facilities for its 28,381 residents ranks it in the 37th percentile for storage facilities per capita among cities across the country. That low rank means that there isn't as much storage space for each person in Florence as there is in most other cities. Even for a Kentucky city, Florence doesn't seem to be inundated with an overabundance of self-storage space, as it only ranks in the 11th percentile for storage businesses per person among cities in the state.
We can't feel satisfied concluding our look at facilities per capita without mentioning the fact that Florence is seeing some major population growth. The city saw 19.6% more people move there from 2000-2010, a whole 12.2% more growth than the 7.4% Kentucky in total saw. With its low level of facilities per person combined with the large number of people moving into town, Florence could be experiencing some very high levels of demand for storage units, making availability low and prices high.
Certain areas of Florence can be significantly cheaper or more expensive for storage than others. Storage is cheapest in the 29505 ZIP code in Florence, where the average rental price is $70.04. Storage prices are highest within the 41042 ZIP code of Florence, where rentals average $222.06 a month.
Some of the most successful storage finds occur when the storage seeker includes nearby towns, suburbs, and neighborhoods in their search. The more expansive your search, the more facilities you'll be able to compare, and the more options you'll have. Though you may have to travel farther to access your unit, the additional savings might just be worth it. Knowing whether or not you should look in nearby cities depends on whether or not self-storage (sometimes called mini storage or public self storage) in those cities is less expensive than in Florence. We've gone ahead and figured that out for you.
Florence is the 5th most expensive city for self storage in the state of Kentucky, with the average price of a storage unit there coming in at $53.5. Kentucky itself is the 45th most expensive state for storage. When searching for storage in Florence, expect to pay $1.31 less than Kentucky's average price of $54.81.
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. We use our 'relative price' scale to calculate the relative affordability of storage in a given area using the state median income. The median income in Kentucky is $41,129.00, which means the average storage unit in Florence would require 1.56% of a median earner's monthly income. This is actually a relatively low percentage of income to spend on a storage unit for a city in Kentucky. Compared to other cities in the state it ranks at the 50th percentile.
In addition to being relatively cheap at the state level, storage in Florence is also relatively cheap on the national scale, ranking at the 47th percentile when compared to other cities nationwide. 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 $18.65 less than that for self storage in Florence.
Finding a great price on a storage unit in Florence can be difficult if you don't know how much units in the area typically cost. Since storage prices can change dramatically from one town to the next, the only real comparison you can make is with other facilities in the immediate area. But don't worry: SelfStorage.com has all the data you need in order to go into your storage search well informed.
self storage renters in Florence pay an average montly rate of $53.5. If your're in need of storage for a longer term, remember that at that rate a unit will cost you approximately $642 a year. But before you go out and search for storage within the context of that figure, it's important to note here that that average price includes all standard sizes of storage units. 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 Florence include 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard unit size, the average rental rate in Florence is:
|Storage Unit Size||Average Price in Florence, KY|
Are you searching for an ultra inexpensive self storage unit in Florence, KY? January is the best month of the year to find cheap storage, while you'll land the best rental rate in the 29505 ZIP code. Try not to start your search in April, when units are at their highest average price, and remember that the 41042 area is the most expensive.
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, the average price of a home in Florence is $119,900.