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. So does Annapolis offer plenty of options when it comes to different storage facilities?
Based on our data, we estimate that there are about 5 storage facilities doing business in the Annapolis, MD area. The Maryland state average is also 5 storage facilities per city. Among the 48 other cities in its state, Annapolis ranks as the 18th-largest market for storage, with 2.13% of facilities. On a national scale, however, Annapolis has a below-average number of facilities, 4 less than the national average of 9.
But of course, there are vast differences in population between Annapolis and other cities in Maryland, and even more so nationwide, so not controlling for population makes little sense. Approximately 36,879 people live in Annapolis, MD. Is that a large population for a city with 5 self-storage facilities, or a small one? For a city its size, Annapolis 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, 2 more than the 5 on offer in Annapolis. Annapolis's below average number of facilities seems to be verified when we look at the actual per capita number of facilities. The 36,879 people living in Annapolis have access to 5 self-storage facilities, which puts them in the 36th percentile for facilities per capita nationwide. That's not a very high rank, meaning that Annapolis doesn't offer a ton of storage businesses for its 36,879 residents to choose from. Is Annapolis still relatively low on storage space compared to other cities in Maryland? Indeed, it seems as if it is, as Annapolis only ranks in the 36th percentile for per capita storage space among cities in Maryland.
Lastly, census data shows that Annapolis is growing in population, though not as fast as the rest of its state. It saw a 2.4% increase from 2000 to 2010, a 6.6% less than the 9% growth that Maryland 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 Maryland cities, Annapolis 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. 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. While it's true that accessing the unit will be more cumbersome the farther it is away, the potential savings could make you complacent with any extra inconvenience. If we can show that self-storage (also known as public self storage and mini storage) in Annapolis is more expensive than its surroundings, then you'll know to expand your search.
With its average price of $74.5 a month for a unit, Annapolis is the 32nd most expensive city for self-storage in the state of Maryland, which itself is the 2nd most-expensive state for storage. To give you a better idea of what this means, Annapolis's average price is $27.70 less than the state average of $102.20.
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. 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. The median income in Maryland is $67,551.00, which means the average storage unit in Annapolis would require 1.32% of a median earner's monthly income. Compared to the price-as-percent-of-income in other Maryland locations, Annapolis ranks at the 33rd percentile, making self-storage here moderately affordable.
The same holds true on a national scale, where self-storage rates in Annapolis are comparatively relatively cheap, ranking in at the 32nd percentile among cities on our nationwide network. To put that in more concrete terms, storage in Annapolis should cost an average of $2.35 more than the national average price of 72.15.
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. The high season lasts from late spring to late summer, the most popular period for those moving into a new home. The high season is considered to be in full swing on National Moving Day, also called 'Crazy Tuesday,' the day after Memorial Day. In addition to families moving between homes, college students renting storage for the summer also contribute to demand during the high season, particularly in college towns.
The high season isn't as relatively high, nor the low season as low, in Annapolis, where according to our data seasonality has a lesser effect on storage prices. Despite the low level of seasonality, those looking for a self storage unit may still want to lock in their price at the time of booking. With its average price of $56.75, February is the cheapest month to book storage in Annapolis. With an average price of $114.75, December is the most expensive month to rent storage in Annapolis.
Before you start your storage search in Annapolis, it's important that you know how much a unit in Annapolis typically costs. Any past experiences you might have booking storage in other cities will be of little help here, as the average price of a storage unit in one city could be hundreds of dollars higher than the next. But don't worry: SelfStorage.com has all the data you need in order to go into your storage search well informed.
Storage businesses in Annapolis rent out their units at an average price of $74.5 a month. If you're considering a longer stay in your storage unit then at that rate you'd be paying approximately $894 per year. Keep in mind though that prices for all unit sizes in Annapolis were included when calculating that figure, so comparing it any individual unit will do you little good. There often are substanial price gaps between the various unit sizes. Self storage in Annapolis comes in these standard sizes: 5x10, 10x10, and 10x20. Here are the average monthly rental prices for each unit size:
|Storage Unit Size||Average Price in Annapolis, MD|
Annapolis self storage typically costs between $75 and $139 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, Annapolis had an average home value of $445,900 which in the past year is up 0.034%.