It's nearly impossible to know what a good monthly rate on a storage unit is if you don't know what kind of prices to expect in Edmond. Since storage prices can change dramatically from one town to the next, the only real comparison you can make is with other facilities in the immediate area. That's why our analysts have crunched the numbers so that you will be able to know what to expect before you begin your storage search.
Storage units in Edmond rent at an average monthly rate of $70.5. That's roughly $846 a year, for those of you whose need for storage is of a lengthier nature. This average does include all storage unit sizes, which means that it should be taken with a grain of salt. The amount you'll actually end up paying will depend on the size of the unit you decide to rent. In Edmond you'll have the option of renting six standard storage unit sizes, such as 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard storage unit size, here's how much you should expect to pay per month in Edmond:
|Storage Unit Size||Average Price in Edmond, OK|
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. That's why those looking for the best deal on a storage unit should expand the area of their search as far and wide as possible. Sure, it might be more of a pain to drive to the facility, but hundreds of dollars in potential savings might alleviate that. If we can show that self-storage (also known as public self storage and mini storage) in Edmond is more expensive than its surroundings, then you'll know to expand your search.
Edmond is the 3rd most expensive city for self storage in the state of Oklahoma, with the average price of a storage unit there coming in at $70.5. Oklahoma itself is the 40th most expensive state for storage. When searching for storage in Edmond, expect to pay $11.12 more than Oklahoma's average price of $59.38.
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. In order to establish some kind of index of affordability for Edmond storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. Given that the average price of a storage unit in Edmond is $70.5 and the median income in Oklahoma is $46,459.00 a year, we can determine that a storage unit would require 1.82% of a median earner's monthly paycheck. According to our analysis, this makes Edmond a very expensive place to rent a storage unit, its average price as a percent of income coming in at the 88th percentile for cities in Oklahoma.
If we measure according to the national scale and compare it to cities across the country, self-storage rates in Edmond are still somewhat expensive, ranking at the 60th percentile in terms of relative expense. Expect to pay $1.65 less than the national average of $72.15 when searching for self storage in Edmond.
Storage prices often follow real estate trends, which means that certain areas of Edmond can be significantly more or less expensive than others. The cheapest area for storage space in Edmond is within the 73013 ZIP code. The average unit there goes for $81.17 a month. Units rent at the highest price in the 73034 ZIP code, where they average $114.23 a month.
Changing seasonal demand often causes storage prices to swing between highs and lows during different parts of the year. Storage prices generally reach their peak during the period from May to September, coinciding with moving season. National Moving Day (the day following Memorial Day) is typically seen as the first real day of the high season and is often the busiest day of the year for storage facilities. Cities with high proportions of university students may see more pronounced seasonal highs and lows, as many students book storage units during the summer.
Seasonality seems to be a very low factor in Edmond self storage prices, with little change between high and low season prices. However, even though prices are less likely to change dramatically in Edmond, locking in a rate for your entire stay often allows you to bargain the total price down. Those looking for self storage in Edmond will find the lowest prices in February, with its average price of $47.25. June, however, is the most expensive month, averaging $79.35.
More facilities in an area mean more options, with some cities offering storage-searchers a wide range and others one that's much more narrow. So does Edmond offer plenty of options when it comes to different storage facilities?
There are 19 total storage facilities in Edmond, OK on the SelfStorage.com network. The average city in Oklahoma also has 19 storage facilities. Among these, Edmond is ranked as the 5th-largest storage market out of the 19 cities in its state, with 5.34% of all facilities. While Edmond may have been an average city in Oklahoma, if we compare it to cities on a national scale it actually has more storage facilities than average--10 more than the average 9, to be exact.
Since, however, there are huge disparities in population between Edmond and other cities in Oklahoma, comparing the number of storage businesses in each tells us very little. The population of Edmond, OK is 81,093. With 19 self-storage facilities, does Edmond offer relatively good or bad storage coverage? Edmond offers a slightly higher than average amount of storage space for its size: cities in the 50,000 to 100,000 population bracket have an average 11 storage facilities, 8 fewer than what can be found in Edmond. One might point out that comparing Edmond to cities of a similar size doesn't prove its healthy supply of storage space for the size of the population, and that a better measure would be actually looking at its facilities per capita. Well, we have, and it has firmly supported our former results. On a per capita basis, Edmond ranks in the 54th percentile nationwide, so there's a fairly-high amount of storage space for the 81,093 people living in Edmond. While Edmond may have ranked well for storage facilities per capita versus other cities across the nation, it faces much more stiff competition back at home in Oklahoma. On its home turf, Edmond only manages to make the 44th percentile for storage businesses per inhabitant.
It also bears mentioning that Edmond saw a large amount of population growth in the past decade, growing by 18.2% from 2000 to 2010, a good 9.5% more growth than the 8.7% the state of Oklahoma experienced over the same period. The new demand created by population growth might overwhelm the storage industry in some cities, but keep in mind that despite that growth, Edmond still offers a high number of facilities per person and should thus be better equiped to meet any added demand.
Trying to locate an extremely low rate on a self storage unit in Edmond, OK? February is your best bet for renting cheap storage, and the cheapest units are located in the 73013 ZIP code. If you can, try not to conduct your storage search during June, when unit prices reach their apex, and be warned that the 73034 area is the most expensive part of town for storage.
Edmond self storage typically costs between $35 and $153 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, Edmond had an average home value of $309,500 which in the past year is up 0.051%.