Jobs in Self-Storage: Is This Career Path Right for You? - When it comes to industries capable of weathering a recession, self-storage is a pretty safe bet. According to a study released by the Self Storage Association, the number of U.S. households with... Read more.
Scoring an excellent price on a storage unit in Wilmington often comes down to knowing what kind of price range to expect. With the average rental rate varying widely from place to place, the only truly valuable comparison you can make is with other storage facilities in the area. 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.
On average, storage facilities in Wilmington charge a monthly rental rate of $58.2 for a storage unit. Over the the length of a year, that would cost you about $698.4, in case you were considering renting for a longer period of time. Don't, however, put too much weight on that number, as it does not discriminate by unit size. Units of different dimensions will of course go for different prices. The standard sizes of storage units available in Wilmington include 5x5, 5x10, 10x10, 10x15, and 10x20. For each standard storage unit size, here's how much you should expect to pay per month in Wilmington:
|Storage Unit Size||Average Price in Wilmington, NC|
Self Storage rates can change dramatically from one neighborhood to the next in Wilmington. Those trying to find the cheapest storage in Wilmington would do well by looking at facilities in the 28403 ZIP code, where storage units go for an average of $81.29 a month, the cheapest in all of Wilmington. You probably won't be finding the best deal on storage in the 28409 ZIP code in Wilmington, which with an average price of $130.00 a unit is the most pricey place in town.
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 Wilmington offer plenty of options when it comes to different storage facilities?
According to the data on our facility network, there are 32 storage businesses operating in Wilmington, NC. On average, cities in North Carolina are home to only about 10 storage facilities, a full 22 less than Wilmington's 32, meaning coverage in Wilmington is reasonably high. In fact, Wilmington's 32 facilities give it the 6th-highest count in the state out of all 70 cities. It's home to a surprising 4.5% of all facilities in North Carolina. But what about on a national scale? Even then, Wilmington has more storage facilities than the average city, 23 more than the average 9, to be exact.
Of course, simply comparing cities irrespective of their various populations tells us very little about these cities, even when we're comparing Wilmington to other cities in North Carolina. How, then, does Wilmington with its 101,350 people compare to cities of a like size? As it turns out, Wilmington actually does have a large amount of storage space for its size. Nationwide, cities with populations of 100,000 to 250,000 have an average 18 storage facilities, which is of course 14 less than the 32 found in Wilmington. When we next look at Wilmington's actual per person self-storage facility count, our former conclusions seem to be validated beyond any reasonable doubt: the Wilmington community has plenty of facilities for its size. The 101,350 residents of Wilmington have 32 self-storage facilities to choose between, which on a per capita basis ranks them in the 63rd percentile nationwide. That's a relatively-high amount of space for each person living in Wilmington. Wilmington may have a large number of facilities per capita nationally, but compared with other cities in North Carolina the same isn't true. In fact, Wilmington only ranks in the 40th percentile among cities in North Carolina, meaning that there's not as much storage space for each of Wilmington's residents as there are in other cities for their residents.
We can't feel satisfied concluding our look at facilities per capita without mentioning the fact that Wilmington is seeing some modest population growth. The city saw 12.9% more people move there from 2000-2010. Though that's not insignificant, it is 5.6% less growth than the 18.5% that North Carolina in total saw. Concluding that demand for storage in Wilmington would be lower than in other cities in North Carolina due to its relatively-low growth rate would, however, be ignoring the fact that Wilmington has fewer facilities for its population than many of these cities, and that a shorter supply would have the same effects on price as high demand.
Storage rental rates are highly seasonal, with prices often fluctuating widely throughout the year. Peaking in May through September, when most people in the United States move, and dropping to their lowest in October through March, when far fewer people move homes, storage prices and closely linked to moving patterns. The single busiest day for self-storage businesses is typically the notorious 'National Moving Day' (which facility operators have dubbed 'Crazy Tuesday' for the chaotic scene at many facilities) the day after Memorial Day. 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.
Wilmington isn't nearly as affected by seasonal change as most other cities are, the average price of storage remaining relatively stable throughout the year. 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. September is the least expensive month for storage in Wilmington, with an average price of $50.05 for a storage unit. February is the most expensive month, when storage goes for an average rate of $76.43.
Much like real estate values, storage prices can be totally different on one side of a city as they are on another. This should be of little surprise given storage's conection to the real estate industry. A more expansive search could help uncover some hidden storage gems. 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. That being said, if we can determine that self-storage (which also goes by mini storage and public storage) prices are lower in Wilmington 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.
Wilmington's average price of $58.2 a month for a unit ranks it as the 36th most expensive city for self-storage in North Carolina, which itself ranks as the 29th most expensive state for storage. To give you a better idea of what this means, Wilmington's average price is $5.62 less than the state average of $63.82.
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. 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 Wilmington will on average cost 1.54% of a median earner's monthly income, given that the yearly median income in North Carolina is $45,210.00. This is actually a relatively low percentage of income to spend on a storage unit for a city in North Carolina. Compared to other cities in the state it ranks at the 46th percentile.
In addition to being relatively cheap at the state level, storage in Wilmington is also relatively cheap on the national scale, ranking at the 46th percentile when compared to other cities nationwide. Nationwide, storage costs an average $72.15 a month. Expect to pay about $13.95 less than that for self storage in Wilmington.
Are you trying to book the absolute cheapest self storage unit in Wilmington, NC? September is the best month of the year to find cheap storage, while the top bargains will be located in the 28403 ZIP code. Do your best to avoid searching in February, the priciest month of the year for storage, and beware that the 28409 area has the worst prices.
Wilmington self storage typically costs between $55 and $165 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, Wilmington had an average home value of $229,900 which in the past year is up 0.048%.