It's not uncommon for another community a few miles down the road to offer substanial savings on storage compared to the rates in your community. By expanding your search into areas you might not have thought to look, you might be able to happen upon some excellent deals. The extra drive to the facility could very well be worth the monthly savings. That being said, if we can determine that self-storage (which also goes by mini storage and public storage) prices are lower in Portage than in other nearby cities, we can make it easier for you to decide whether or not to take the time on a wider search.
With its average price of $55 a month for a unit, Portage is the 41st most expensive city for self-storage in the state of Michigan, which itself is the 26th most-expensive state for storage. When searching for storage in Portage, expect to pay $13.17 less than Michigan's average price of $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. 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. A storage unit in Portage will on average cost 1.37% of a median earner's monthly income, given that the yearly median income in Michigan is $48,308.00. Compared to the price-as-percent-of-income in other Michigan locations, Portage ranks at the 43rd percentile, making self-storage here moderately affordable.
In addition to being relatively cheap at the state level, storage in Portage is also relatively cheap on the national scale, ranking at the 35th percentile when compared to other cities nationwide. Expect to pay $17.15 less than the national average of $72.15 when searching for self storage in Portage.
Before you start your storage search in Portage, it's important that you know how much a unit in Portage typically costs. Comparing rates at facilities you booked storage at in other cities can give the wrong expectations, as the average price for storage could be hundreds of dollars different in that location. In order to help you go into your storage search with the right knowledge, the analysts here at SelfStorage.com have crunched the numbers and processed the data so that you can know what kind of rental rates to expect.
The average rental rate of a self storage unit in Portage is $55 a month. For you long-term storage seekers out there, that's about $660 per year. Don't, however, put too much weight on that number, as it does not discriminate by unit size. It's not uncommon for larger units to be more than twice as costly as the smaller sizes. Self storage in Portage comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. Below you'll find the average monthly price per size:
|Storage Unit Size||Average Price in Portage, MI|
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 day following Memorial Day is typically the busiest of the high season, and is known in the industry as 'National Moving Day' and 'Crazy Tuesday for the number of people who decided to move and rent storage on that day. University towns often see the sharpest seasonal spikes, as college students rent a significant number of storage units when they go home during their summer break. Smaller sized units in particular will see a rise in price during this period.
Seasonality is not particularly pronounced in Portage, meaning that month-to-month prices vary less than they do elsewhere. 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. Your chances of getting a low price on a storage unit in Portage are highest during January, when the average rental rate drops to a low $55. Your chances are lowest during February, which with an average price of $111 is the most expensive time to book a unit.
When it comes to finding self-storage, the more really is the merrier: more storage businesses in your area means more unit options available, and more options mean a greater chance you'll be able to choose a unit that satisfies your storage needs. About how many storage facilties are serving the Portage area?
There are 8 total storage facilities in Portage, MI on the SelfStorage.com network. Other cities in Michigan are home to an average 6 facilities, 2 less than Portage, meaning Portage's storage coverage is slightly-higher than average. Portage also boasts the 15th highest count of storage facilities out of all 73 cities in Michigan, making up 1.74% of the state's facility count. But even if Portage has an above-average number of storage facilities for Michigan, it's below average on a national scale--1 below the national average of 9 facilities, to be more precise.
But of course, there are vast differences in population between Portage and other cities in Michigan, and even more so nationwide, so not controlling for population makes little sense. Are the 8 facilities in Portage sufficient at supplying the 46,453 people who call it home with enough extra storage space? Portage, as it turns out, has a moderately-high amount of storage space for a city its size. The average for cities in its 25,000 to 50,000 population bracket is 7 facilities, which is, of course, 1 fewer than Portage's 8. 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 Portage's 46,453 people--a figure which seems to have challenged our finding that there's plenty of storage to be had there. The 46,453 people living in Portage have access to 8 self-storage facilities, which puts them in the 44th percentile for facilities per capita nationwide. That's not a very high rank, meaning that Portage doesn't offer a ton of storage businesses for its 46,453 residents to choose from. On the state level, however, Portage doesn't appear so strapped for storage space: compared to cities in Michigan, Portage ranks in the 51st percentile for facilities per capita, much higher than it does nationally.
Another thing to take into consideration is the fact that Portage has seen a rise in population over the past few years, climbing 3.3% from 2000 to 2010. Michigan, however, has experienced quite the opposite, and faced a population loss of -0.6% over the same period. With its low level of facilities per person combined with the large number of people moving into town, Portage could be experiencing some very high levels of demand for storage units, making availability low and prices high.
Portage self storage typically costs between $44 and $141 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, Portage had an average home value of $134,500 which in the past year is up 0.026%.