Medina, OH Self Storage: FAQ
Is self storage in Medina expensive?
Self storage rates being as highly-dependent on the real estate market as they are, it should come as no surprise that prices can change dramatically within the space of a few miles. It could indeed be that a facility just a mile or two outside of town offers a much lower rate, but you won't find that facility unless you include a wider area in your search. Though you may have to travel farther to access your unit, the additional savings might just be worth it. If the average price of self storage (which includes facilities called mini storage or public self storage) is higher in Medina, then you'll definitely want to expand your search. So is it?
With its average price of $94 a month for a unit, Medina is the 14th most expensive city for self-storage in the state of Ohio, which itself is the 30th most-expensive state for storage. In more exact terms, storage in Medina costs an average of $30.25 more than the average storage unit in Ohio, which goes for 63.75.
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. 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 Medina will on average cost 2.45% of a median earner's monthly income, given that the yearly median income in Ohio is $45,991.00. This is a very high percentage of income compared to other cities in Ohio, ranking in at the 85th percentile statewide, which leads us to conclude that storage in Medina is not cheap.
When placed on a national scale and compared to cities across the country, storage prices in Medina are still very expensive, ranking at the 80th percentile in terms of relative expense. The national average monthly price of a storage unit is $72.15. Depending on the size of unit you rent and the time of year, you should expect to pay approximately $21.85 more than that for self storage in Medina.
Are self storage prices in Medina, OH lower in certain seasons? Should I book my unit in the spring, summer, fall or winter to get the best deal?
Self storage prices are highly seasonal, with rental prices often fluctuating widely throughout the year. The low season generally lasts from October through March, with prices kicking up in April and hitting their high from May to September. 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. 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.
According to our data, Medina's rental rates aren't as dependent on the time of year as other cities, which leads us to conclude that seasonality is less of a factor here. Still, booking during the low season and locking in your price with the facility is an important part of getting a good deal on self storage. The lowest prices on self storage in Medina can be found during the month of November, with an average price of $75.67, while the most expensive month is September, with an average price of $149.
How much does a Medina, OH storage unit typically cost?
You'll have a tough time telling a good deal on storage in Medina from a great one if you don't know what storage in Medina normally costs. Storage prices being as highly-dependent on location as they are, there's little use in comparing the facilities in Medina with those in other cities you might have rented a storage unit in in the past. In order to help you go into your storage search as informed as possible, we've had our storage analysts go over all the data on Medina we have available.
In Medina the average monthly rental rate for a storage unit is $94. To put that into perspective for those thinking of renting a unit for a year or more, that's about $1128 per year. Keep in mind that that average does not differentiate between the different sizes of units, and so should be taken with a grain of salt. 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 Medina, including: 10x10, 10x15, and 10x20. Here are the average rental rates for each standard size in Medina:
|Storage Unit Size||Average Price in Medina, OH|
Is there a sizeable supply of storage space available in Medina? Should I expand my search into nearby towns and suburbs?
Finding the unit you need at the price you want has everything to do with what's available in your area, with more facilities offering more options. So how many storage businesses are located in Medina?
According to our numbers, there are 10 total storage facilities in Medina, OH. Other Ohio cities have an average of 9 facilities on our network, 1 less than Medina, which leads us to conclude that Medina offers a moderately-high number of facilities. Out of all 88 cities in Ohio listed on the SelfStorage.com network, Medina ranks as the 18th-highest in terms of number of storage businesses, accounting for 1.33% of facilities. When compared against the national average of 9 storage facilities in each city, Medina still offers a full 1 more than the average.
Of course, simply comparing cities irrespective of their various populations tells us very little about these cities, even when we're comparing Medina to other cities in Ohio. We ought to be comparing Medina, with its population of 26,168, to cities of similar size. The average number of facilities listed on our storage network in cities with populations of 25,000 to 50,000 is 7. As Medina's facility count beats that by 3, we can establish that Medina has a bit more storage space than average for a city its size. One may of course argue that measuring Medina against cities of a like size isn't the best yardstick and does not prove that there are plenty of storage facilities for the number of people who live there. In order to address these concerns we've looked at Medina's facilities per person, which seems to have affirmed our former conclusions. In terms of self-storage facilities per capita, Medina ranks in the 69th percentile nationwide, meaning that it has a moderately-high amount of storage space for its 26,168 residents. But does Medina have a large number of storage facilities per person for a city in Ohio? Indeed, it does, ranking at the 68th percentile.
Lastly, US Census data shows that Medina is growing fast, its population jumping by 3.5% from 2000 to 2010, a 1.9% higher increase than the 1.6% growth that Ohio saw as a whole. But though the people moving into Medina may generate more demand for storage units, remember that the city does have a high number of storage businesses per capita, which should help balance that added demand out.