Changing seasonal demand often causes storage prices to swing between highs and lows during different parts of the year. The high season typically begins in April or May and lasts till August or September, with prices dropping back down to their lowest in the late fall and winter. Sometimes called 'National Moving Day' or 'Crazy Tuesday', the day following Memorial Day is typically the busiest for storage businesses and the highest point of the high season. College students looking for a place to keep their things during the summer holiday can also have an effect on high season prices, pushing up prices on smaller units in particular, which is something to keep in mind if you live in a college town.
Hoboken is more significantly affected by seasonality than most other cities, with higher highs and lower lows brought on by each season. Keep seasonal changes at bay by signing your storage lease during the low season and then locking in that rate for your entire stay. September is the least expensive month for storage in Hoboken, with an average price of $41.65 for a storage unit. October is the most expensive month, when storage goes for an average rate of $269.1.
Some storage seekers are able to find much cheaper rates by looking in nearby communities in addition to their own. If you're searching for the cheapest storage unit out there, a good rule of thumb is to look farther abroad than you originally set out to. The sum you'll save each month could totally be worth the extra drive, especially if you'll only need to visit your unit on the rare occasion. That being said, if we can determine that self-storage (which also goes by mini storage and public storage) prices are lower in Hoboken 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.
Hoboken is the 25th most expensive city for self storage in the state of New Jersey, with the average price of a storage unit there coming in at $132.3. New Jersey itself is the 5th most expensive state for storage. In general, storage units in Hoboken go for $35.70 more than the state average of $96.6.
An average price alone, however, doesn't tell you if storage is or isn't more affordable in one city versus another, as the cost of living will also be different. That's why we've developed a 'relative price' scale that takes state median income into account. In New Jersey, the median income is $63,646.00 a year, which would make the average $132.3 unit in Hoboken cost 2.49% of a median earner's monthly income. When compared to storage price as a percent of income in other cities in New Jersey, Hoboken ranks in the 78th percentile, meaning that storage here is quite expensive.
When placed on a national scale and compared to cities across the country, storage prices in Hoboken are still very expensive, ranking at the 81st percentile in terms of relative expense. Nationwide, storage costs an average $72.15 a month. Expect to pay about $60.15 more than that for self storage in Hoboken.
The more facilities there are in the area you're searching, the more options you'll have. How many facilties are operating in Hoboken?
According to the data on our facility network, there are 3 storage businesses operating in Hoboken, NJ. 3 is in fact the average number of facilities for each city in New Jersey. Among these 113 cities, Hoboken ranks as the 35th largest in terms of facility count, with 0.85% of the market. Hoboken may be perfectly average for a city in NJ, but on a national scale it actually has fewer facilities than most cities--6 fewer than the national average of 9, to be exact.
But making comparisons between any cities, whether it be comparing Hoboken to its neighbors in New Jersey or on a national scale, isn't a very fruitful excercise when we ignore a city's population. So how does Hoboken, with its population of 41,015, compare to cities with similar populations? As it turns out, Hoboken offers a below-average amount of storage space for a city its size. It's only a bit below average--4 facilities, to be precise--but it does come in under the average 7 storage facilities that cities in the 25,000 to 50,000 population bracket have. When we next look at Hoboken's actual per person self-storage facility count, our former conclusions seem to be supported beyond any reasonable doubt: the Hoboken community has few facilities for its size. Compared to other cities listed on our national network, Hoboken place in the 17th percentile for storage businesses per person. This clearly shows that 3 is a low number of facilities for a city of 41,015, meaning that finding the storage unit you need could be more challenging in Hoboken than it is elsewhere. Even for a New Jersey city, Hoboken doesn't seem to be inundated with an overabundance of self-storage space, as it only ranks in the 32nd percentile for storage businesses per person among cities in the state.
In discussing facilities per capita, we also feel that we should mention the fact that Hoboken's population is growing, and by a significant margin. Its population saw a 5.9% increase in the first decade of this century, which is 1.4% more than the 4.5% increase the whole state of New Jersey experienced. Demand for self-storage in Hoboken could be pushed even higher due to the fact that, in addition to its growth spurt, it has a low level of facilities per capita.
Searching for a storage unit in Hoboken without knowing how much one should cost is no way to go about finding a good deal. Comparing facilities you booked storage at in other cities will do you little good, as the average price for storage could be hundreds of dollars different. In order to prevent you from going into your storage search unprepared, we here at SelfStorage.com have prepared the numbers you need to know.
Rental rates average $132.3 a month for a storage unit in Hoboken. To put that into perspective for those thinking of renting a unit for a year or more, that's about $1587.6 per year. That average doesn't discriminate by size, so it shouldn't be taken as an extremely accurate figure. Different sizes of units can go for hundreds of dollars more or less than others, even in the same city. There are six standard sizes of storage units in Hoboken, including: 5x5, 5x10, 10x10, The average prices for each are:
|Storage Unit Size||Average Price in Hoboken, NJ|
Hoboken self storage typically costs between $145 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, Hoboken had an average home value of $559,000 which in the past year is up 0.058%.