Searching storage in Grand Rapids without knowing how much a unit should cost is no way to go about finding a good price. Being that the average price of storage unit can be different by hundreds of dollars between two cities in the same state, any past experiences booking storage elsewhere will help you little in figuring out how much you should pay. To prevent you from going into your storage search in the dark, the analysts at SelfStorage.com have prepared the numbers you need to know.
In Grand Rapids, self storages rents at an average rate of $50.5 a month. If you're considering a longer stay in your storage unit then at that rate you'd be paying approximately $606 per 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. It's not uncommon for larger units to be more than twice as costly as the smaller sizes. The standard sizes of storage units available in Grand Rapids include 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. Here are the average monthly rates for each standard unit size in Grand Rapids:
|Storage Unit Size||Average Price in Grand Rapids, MI|
Storage prices on one side of Grand Rapids can be totally different on the other side of the city. Those trying to find the cheapest storage in Grand Rapids would do well by looking at facilities in the 49548 ZIP code, where storage units go for an average of $87.16 a month, the cheapest in all of Grand Rapids. Storage prices are highest within the 49508 ZIP code of Grand Rapids, where rentals average $113.22 a month.
Finding storage is a game of numbers, and one important number is that of the amount of storage facilities in your city. More facilities bring more options, so the odds of finding the perfect unit increase as the number of facilities in your area does. In terms of the number of storage businesses in Grand Rapids, are there plenty of options available, or few?
Analysts at SelfStorage.com report that there are an estimated 29 storage facilities located in the Grand Rapids area. When compared to other cities in Michigan, there are a very large number of facilities operating in Grand Rapids. The average Michigan city is home to only 6 facilities, 23 less than in Grand Rapids. This ranks Grand Rapids as the 2nd largest storage market out of 73 Michigan cities in terms of number of facilities, making up 6.28% of the state's total. Grand Rapids isn't only a large storage market in terms of its state, either, as its 29 facilities give it 20 more than the national average of 9 facilities per city.
But how does Grand Rapids compare to the rest of Michigan and the nation on a per capita basis? After all, not controlling for population makes most city comparisons obsolete. Are the 29 facilities in Grand Rapids sufficient at supplying the 193,710 people who call it home with enough extra storage space? It turns out that the average city in the 100,000 to 250,000 population bracket has 18 self-storage facilities listed on our network. That's 11 fewer facilities than are listed in Grand Rapids, leading us to conclude that Grand Rapids is slightly above-average among cities of similar size. It is important to note that comparing cities of like size might not be the best measure, and that a more accurate conclusion might be had by looking at how many facilities there are for Grand Rapids's 193,710 people--a figure which seems to have undercut our finding that there's plenty of storage to be had there. Per person, Grand Rapids ranks in the 39th percentile for self-storage facilities among cities across the nation. That means that 29 storage businesses serving a city of 193,710 people isn't a very high number, and indicates that finding the necessary storage space in Grand Rapids could be more difficult than in other cities. Even for a Michigan city, Grand Rapids doesn't seem to be inundated with an overabundance of self-storage space, as it only ranks in the 47th percentile for storage businesses per person among cities in the state.
In discussing facilities per capita, we think it important to mention that Grand Rapids has seen a downward trend in population numbers over the past few years. Its total population dropped by 2.1% from the year 2000 to the year 2010, a 1.5% greater loss than the -0.6% that Michigan lost as a whole. Recall, however, that Grand Rapids also had a low number of storage facilities per person for its state, so while there might not be as much demand generated by inbound migration, demand may already be high due to its short supply.
Storage rental rates are highly seasonal, with prices often fluctuating widely throughout the year. The high season lasts from late spring to late summer, the most popular period for those moving into a new home. 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. 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.
Grand Rapids experiences higher-than-average price fluctuations. Though seasonality is not as salient here as in other cities, significant seasonal changes should be expected. Keep seasonal changes at bay by signing your storage lease during the low season and then locking in that rate for your entire stay. January is the least expensive month for storage in Grand Rapids, with an average price of $50.5 for a storage unit. February is the most expensive month, when storage goes for an average rate of $209.
Some of the most successful storage finds occur when the storage seeker includes nearby towns, suburbs, and neighborhoods in their search. A more expansive search could help uncover some hidden storage gems. This might make it more difficult to access your unit, but the extra money in your pocket every month may 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 Grand Rapids. We've gone ahead and figured that out for you.
Grand Rapids's average price of $50.5 a month for a unit ranks it as the 48th most expensive city for self-storage in Michigan, which itself ranks as the 26th most expensive state for storage. In more exact terms, storage in Grand Rapids costs an average of $17.67 less than the average storage unit in Michigan, which goes for 68.17.
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. In Michigan, the median income is $48,308.00 a year, which would make the average $50.5 unit in Grand Rapids cost 1.25% of a median earner's monthly income. Comparing this percentage to other cities in Michigan shows us that it ranks at the 35th percentile and is therefore a somewhat cheap place to rent a self-storage unit.
The same holds true on a national scale, where self-storage rates in Grand Rapids are comparatively relatively cheap, ranking in at the 28th percentile among cities on our nationwide network. Expect to pay $21.65 less than the national average of $72.15 when searching for self storage in Grand Rapids.
Looking for an astoundingly-low price on a self storage unit in Grand Rapids, MI? The cheapest units in Grand Rapids can be found during January within the 49548 ZIP code. The worst time of the year to look for storage is February, when units are at their priciest, and be alert to the fact that the 49508 area is more expensive than other areas.
Grand Rapids, MI self storage typically costs between $43 and $237 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, Grand Rapids had an average home value of $255,900 which in the past year is up 0.086%.