Home to the University of Tennessee (Go Vols!), Knoxville is one of the largest and important cities in the Appalachian region. It offers excellent access to the forest-covered Smoky Mountains, particularly the Great Smoky Mountains National Park, the most-visited national park in the country. As a Knoxvillian you might know all of that well, but do you know how much you should expect to pay per month for a storage unit in Knoxville?
The more facilities there are in the area you're searching, the more options you'll have. So how many self-storage businesses are operating in Knoxville?
Based on our data, we estimate that there are about 58 storage facilities doing business in the Knoxville, TN area. When compared to other cities in Tennessee, there are a very large number of facilities operating in Knoxville. The average Tennessee city is home to only 13 facilities, 45 less than in Knoxville. Furthermore, Knoxville accounts for a full 14.33% of facilities in Tennessee and ranks as the 1st-largest storage market out of all 31 cities in Tennessee. How does Knoxville fare against cities outside of Tennessee? On a national scale, it still has more facilities than the average city, 49 more than the average 9, to be more precise.
But of course, comparing the raw number of storage facilities in Knoxville to other cities in Tennessee and nationwide without taking population into account tells us very little. Do the 58 self storage facilities in Knoxville offer the 185,100 people living there enough extra storage space? How does Knoxville compare to similarly-sized cities? The average number of storage businesses listed on our network in cities with populations of 100,000 to 250,000 is 18. As Knoxville has a whopping 40 more storage facilities than that, we can conclude that Knoxville has plenty of extra storage space for its size. That Knoxville has few facilities for its size seems to be further verified when we look at Knoxville's actual per capita storage facility coverage. Per capita, Knoxville ranks in the 63rd percentile for storage facilities compared to cities across the country. That means there's a reasonably-high amount of storage space in Knoxville compared to other cities. But if Knoxville appeared to have a large amount of storage space for a city on the national scale, it doesn't in Tennessee, where it only ranks in the 46th percentile.
Finally, it also seems that Knoxville is undergoing a modest level of population growth. According to the US Census, Knoxville grew by 5% from 2000 to 2010, which, though not insignificant, is 6.5% less than the 11.5% growth Tennessee saw. But even if Knoxville isn't seeing a precipitous rise in population, remember that it still does have relatively few storage businesses for its current population.
Before you go out looking for a cheap storage unit in Knoxville, it's important that you know how much a unit in Knoxville ususally costs. Since the average price of storage can be over $100 different between two cities in the same state, any past experiences booking storage elsewhere will be little help here. 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.
In Knoxville the average monthly rental rate for a storage unit is $68.22. At those rates, a year-long stay in a unit will cost about $818.64, in case your storage needs are more long term. Now, it should be noted that that average rate is for all sizes of units in Knoxville, and so should not necessarily be used as a definitive yardstick. You can, after all, end up paying twice as much for the larger unit sizes than the smaller sizes. In Knoxville you'll have the option of booking six standard storage unit sizes, such as 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. The following are the average prices for each size:
|Storage Unit Size||Average Price in Knoxville, TN|
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. The extra drive to the facility could very well be worth the monthly savings. In order to help you know whether or not to expand your search, the analysts at SelfStorage.com have done the math to figure out whether self-storage (also called mini storage or public self storage) in Knoxville is relatively more or less expensive than other cities.
With its average price of $68.22 a month for a unit, Knoxville is the 9th most expensive city for self-storage in the state of Tennessee, which itself is the 39th most-expensive state for storage. In general, storage units in Knoxville go for $8.11 more than the state average of $60.11.
These average prices don't necessarily tell you how affordable storage in one city is compared to another, as the cost of living changes from place to place. 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. Given that the average price of a storage unit in Knoxville is $68.22 and the median income in Tennessee is $41,044.00 a year, we can determine that a storage unit would require 1.99% of a median earner's monthly paycheck. As a percentage of income, storage costs rank at the 72nd percentile among cities in Tennessee, making Knoxville more expensive than most cities.
The same holds true on a national scale, where storage in Knoxville is comparatively somewhat expensive, ranking at the 67th percentile among cities nationwide. 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 $3.93 less than that for self storage in Knoxville.
As they are closely linked to real estate prices, self storage unit prices can be very different in one part of Knoxville to another. Searching for storage in the 37918 ZIP code should yield the cheapest rental rates, as units there average $76.90 a month, lower than anywhere else in Knoxville. Storage prices are highest within the 37932 ZIP code of Knoxville, where rentals average $140.40 a month.
It's often true that the same storage unit at the same storage facility will cost significantly more or less in April than it does in November. That's because self storage is a seasonal industry. Storage seasonality is in synch with the moving seasons, which are at their highest in the late spring and summer, as a huge amount of storage demand is generated by people moving into new homes. 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. 5x5 and 5x10 units often see wider seasonal swings, primarily due to college students renting these smaller sizes when they leave town for the summer. College towns will be particularly affected by this.
Prices on self storage in Knoxville do not vary as widely between high and low seasons as they do on average in other cities, so seasonality should be less of an issue for potential renters here. But even if price changes are less of a risk in Knoxville, locking in a rate is almost always a smart, safe move. April is the least expensive month for storage in Knoxville, with an average price of $45.14 for a storage unit. November is the most expensive month, when storage goes for an average rate of $76.83.
Are you looking for a very good rate on a self storage unit in Knoxville, TN? April is the best time to begin your hunt for storage, and the least expensive units are located in the 37918 ZIP code. Try to avoiding looking for storage during November, the priciest month of the year for storage, and be alert to the fact that the 37932 area has the highest prices.
Knoxville, TN self storage typically costs between $30 and $185 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, Knoxville had an average home value of $127,500 which in the past year is up 0.035%.