Just like real estate prices, prices on storage can be totally different in different parts of the same city. Storage facilities just on the periphery of your current search might have some great rental rates, and you'll only find them if you search a little more broadly. 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. We've had our analysts go over the data on self-storage (sometimes known as public self storage or mini storage) in Fayetteville to see how it compares with other cities in its state.
Fayetteville is the 21st most expensive city for self storage in the state of North Carolina, with the average price of a storage unit there coming in at $71.44. North Carolina itself is the 29th most expensive state for storage. In more exact terms, storage in Fayetteville costs an average of $7.62 more than the average storage unit in North Carolina, which goes for 63.82.
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 Fayetteville storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. The median income in North Carolina is $45,210.00, which means the average storage unit in Fayetteville would require 1.9% of a median earner's monthly income. This is a relatively-large percentage of income compared to other cities in North Carolina, ranking in at the 69th percentile statewide. We have to conlude from this that storage in Fayetteville is somewhat expensive.
The same holds true on a national scale, where self-storage rates in Fayetteville are comparatively somewhat expensive, ranking in at the 64th percentile among cities on our nationwide network. Nationwide, storage costs an average $72.15 a month. Expect to pay about $0.71 less than that for self storage in Fayetteville.
Searching storage in Fayetteville without knowing how much a unit should cost is no way to go about finding a good price. 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. In order to prevent you from going into your storage search in the dark, we've had our analysts comb through all the data on Fayetteville storage you might need.
In Fayetteville, self storages rents at an average rate of $71.44 a month. To give those thinking of renting storage for a year or more some better perspective, that's about $857.28 per anum. Now, that number doesn't discriminate by unit size, instead averaging all together, so it shouldn't be taken as an incredibly accurate figure. The price gap between the smallest unit sizes and the largest can be very significant. Self storage in Fayetteville comes in these standard sizes: 5x5, 5x10, and 10x20. Here are the average monthly rental prices for each unit size:
|Storage Unit Size||Average Price in Fayetteville, NC|
One of the most prominent factors involved with finding a cheap storage unit is the time of year you go searching for that unit, as storage prices change due to seasonal demand. 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. Known to some in the industry as 'Crazy Tuesday,' the day following Memorial Day is typically the busiest of the year for storage and brings the high season into full swing. 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.
Fayetteville, according to our data, is virtually unaffected by seasonality relative to other cities, with lower highs and higher lows relative to what other cities experience. 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. November is the least expensive month for storage in Fayetteville, with an average price of $52.33 for a storage unit. August is the most expensive month, when storage goes for an average rate of $84.93.
Just as real estate prices do, storage prices can change from one block in Fayetteville to the next. Those trying to find the cheapest storage in Fayetteville would do well by looking at facilities in the 72704 ZIP code, where storage units go for an average of $74.04 a month, the cheapest in all of Fayetteville. The 30214 ZIP code, on the other hand, is the most expensive area in Fayetteville, with an average price of $156.77 for 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. So how many storage facilities are there in Fayetteville?
According to our numbers, there are 29 total storage facilities in Fayetteville, NC. On average, cities in North Carolina are home to only about 10 storage facilities, a full 19 less than Fayetteville's 29, meaning coverage in Fayetteville is reasonably high. Fayetteville also boasts the 7th highest count of storage facilities out of all 70 cities in North Carolina, making up 4.08% of the state's facility count. The same holds true on a national level: Fayetteville is home to 20 more facilities than the US average of 9 facilities per city.
Since, however, there are huge disparities in population between Fayetteville and other cities in North Carolina, comparing the number of storage businesses in each tells us very little. We ought to be comparing Fayetteville, with its population of 198,071, to cities of similar size. 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 Fayetteville, leading us to conclude that Fayetteville 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 Fayetteville's 198,071 people--a figure which seems to have challenged our finding that there's plenty of storage to be had there. In comparison with cities across the country, Fayetteville's 29 self-storage facilities for its 198,071 residents ranks it in the 38th percentile for facilities per person, meaning that there's relatively-little extra storage space for its residents. If we restrict our scope down to the state level, we get similar results: for cities in North Carolina, Fayetteville only ranks in the 20th percentile, meaning that Fayetteville has little per capita storage space even compared to other cities in its state.
Another thing to note is the fact that the population of Fayetteville has been shrinking in recent years, falling by 0.6% from 2000 to 2010, according to data from the US Census. During that same period North Carolina as a whole experienced population growth of 18.5%. Recall, however, that Fayetteville 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.
Searching for a surprisingly-cheap self storage unit in Fayetteville, NC? November is the cheapest month for storage, while the lowest rental rates will be located in the 72704 ZIP code. If you can, try not to conduct your storage search during August, when unit prices reach their year-long summit, and keep in mind that the 30214 area is the most expensive in Fayetteville for storage.
Fayetteville self storage typically costs between $30 and $145 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, Fayetteville had an average home value of $138,500 which in the past year is down 0.009%.