Finding a great price on a storage unit in Medford can be difficult if you don't know how much units in the area typically cost. 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. 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.
In Medford, self storages rents at an average rate of $119.58 a month. For you long-term storage seekers out there, that's about $1434.96 per year. It must be noted that that rate averages all sizes of units in Medford, and so shouldn't necessarily be used as a definitive yardstick during your search. It's not uncommon for larger units to be more than twice as costly as the smaller sizes. Self storage in Medford comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, and 10x20. Below you'll find the average monthly price per size:
|Storage Unit Size||Average Price in Medford, MA|
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. In terms of the number of storage businesses in Medford, are there plenty of options available, or few?
In total, 6 Medford storage businesses have listed themselves on our self-storage facility network. Medford is home to a slightly-higher number of storage facilities than most other cities in Massachusetts. The average city in Massachusetts is home to 3 storage businesses, 3 less than what can be found in Medford. If we were to rank Medford among the other 69 cities in Massachusetts, it would come out as the 9th largest market for self storage, accounting for a surprising 2.53% of all facilities in the state. On the other hand, Medford doesn't have quite as many facilities as other cities do on a national scale. Its 6 facilities put it 3 below the 9 that can be found in the average city nationwide.
If we're making comparisons between cities, however, we're missing out on some important insights if we don't factor population in, even if we're simply comparing Medford to the rest of Massachusetts. Are the 6 facilities in Medford sufficient at supplying the 55,578 people who call it home with enough extra storage space? Medford, as it turns out, has fewer storage facilities than is typical of a city its size. Cities with a population of 50,000 to 100,000 have an average 11 facilities, 5 more than Medford's 6. In addition, if we look at Medford's per capita facility count, our former findings seem to be definitively affirmed: Medford does seem to have few facilities for its size. The 6 facilities in Medford for its 55,578 residents rank it in the 28th percentile for storage facilities per capita among cities across America. That's a relatively-low rank, and seems to indicate that there's not a whole lot of extra storage space in Medford for those 55,578 people living there. On a statewide basis, on the other hand, Medford doesn't perform so poorly in terms of facilities per person. In fact, it ranks in the 58th percentile for cities in Massachusetts.
We feel it worth mentioning that Medford saw a net loss in population from the 2000 census to the 2010 census, where its number of inhabitants fell by 0.1%. Over that same period, however, Massachusetts took on 3.1% more people. Such a low growth rate relative to other cities in Massachusetts, not to mention its higher number of facilities per capita than most of those cities, would seem to make Medford a high supply but low demand city for storage, which of course is ideal for anyone seeking to book a unit there.
The demand for storage being as highly seasonal as it is, moving between highs and lows throughout the year, the season you decide to book a unit during can have as much affect on the price you pay as any other factor. The low season generally lasts from October through March, with prices kicking up in April and hitting their high from May to September. 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. 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.
The high season isn't as relatively high, nor the low season as low, in Medford, where according to our data seasonality has a lesser effect on storage prices. If you'd still like to play it safe, which of course is always a good idea, one way to guard against seasonal price changes is by setting up an agreement with the facility to pay a single rate for your entire rental period. February is the most expensive month for storage in Medford, with an average price of $170.64. The cheapest prices on storage in Medford can be found during the month of March, where the average cost of a unit is $82.91.
Prices on self storage in Medford can change substantially with a few minutes drive in any direction. Focus your storage search on the 97501 ZIP code of Medford, where units rent for an average $87.45 a month, the lowest in the entire city. Medford's highest-priced neighborhood for storage lies within the 2155 ZIP code, where storage rental rates are an average $213.08 a month.
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. Though you may have to travel farther to access your unit, the additional savings might just be worth it. We've had our analysts go over the data on self-storage (sometimes known as public self storage or mini storage) in Medford to see how it compares with other cities in its state.
Medford's average price of $119.58 a month for a unit ranks it as the 13th most expensive city for self-storage in Massachusetts, which itself ranks as the 8th most expensive state for storage. In more exact terms, storage in Medford costs an average of $24.00 more than the average storage unit in Massachusetts, which goes for 95.58.
But average prices don't necessarily tell you how affordable storage is in a given city, as money goes further in some states than it does in others. In order to establish some kind of index of affordability for Medford storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. A storage unit in Medford will on average cost 2.27% of a median earner's monthly income, given that the yearly median income in Massachusetts is $63,085.00. As a percent of the average local income, self-storage in Medford is quite expensive, with its relative price ranking in at the 82nd percentile in Massachusetts.
The same holds true on a national scale, where self-storage rates in Medford are comparatively very expensive, ranking in at the 76th percentile among cities on our nationwide network. To put that in more concrete terms, storage in Medford should cost an average of $47.43 more than the national average price of 72.15.
Trying to book the absolute best bargain on a self storage unit in Medford, MA? Then book a unit in March within the 97501 ZIP code. If you can, try not to conduct your storage search during February, the priciest month of the year for storage, and keep in mind that the 2155 area is the most expensive part of town for storage.
Medford self storage typically costs between $64 and $259 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, Medford had an average home value of $397,000 which in the past year is up 0.077%.