Stein Investment Group Plots Nationwide Expansion - Atlanta-based Stein Investment Group is in the early stages of developing a national self-storage portfolio. Since buying its first self-storage property in 2010, Stein Investment has established a... Read more.
Nashville is both the cultural and political capital of Tennessee, and its second biggest city. Long known as Country Music's mecca (rightfully playing host to the Country Music Fall of Fame), Nashville features both an energetic live music scene as well as several of the nation's largest music production companies, including all of the Big Four labels. While the Grand Ole Oprey, a weekly country music concert, will always be one of Nashville's defining cultural offerings, the city has in recent years expanded its musical horizons to include many more genres than Country Music alone. The large number of universities in the Nashville area--which includes Tennessee State University, Vanderbilt University, Belmont University, and Lipscomb University--contribute to the city's lively and boisterous cultural scene, and supply the economy with the necessary brainpower. If you're a Nashvillian (one of the best demonyms around, by the way) of if you attend or attended Vanderbilt or TSU, then you're well aware of all of that. But do you know how much you should expect to pay for Nashville self storage, or how many storage facilities are operating in the city?
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 are there a large or small number of storage businesses operating in Nashville?
SelfStorage.com has 40 storage facilties in Nashville, TN listed on its network. How does that number compare to other communities? It's a full 27 facilities more than the average city in Tennessee, where there are an average 13 facilities in each city. This ranks Nashville as the 3rd largest storage market out of 31 Tennessee cities in terms of number of facilities, making up 9.88% of the state's total. Nashville also has a large number of facilities for a city on the national scale, with 31 more facilities than the national average of 9.
But of course, comparing Nashville to other cities in Tennessee or across the nation regardless of population tells us very little. Nashville, TN has approximately 609,644 inhabitants. Do the 40 storage businesses there offer the community enough storage space? For a city its size, Nashville is a bit below average when it comes to self storage facilities. Other cities in the 250,000 to 1,000,000 population bracket have an average 49 facilities, 9 more than the 40 on offer in Nashville. When we next look at Nashville's actual per person self-storage facility count, our former conclusions seem to be demonstrated beyond any reasonable doubt: the Nashville community has few facilities for its size. With 40 storage businesses for 609,644 residents, Nashville ranks in the 14th percentile for storage facilities per person in cities on our self-storage network. This means that there's very little storage space per each resident of Nashville in relation to the amount of space per resident in other cities. Just as Nashville offers little storage space per person on a national scale, the same goes when we compare the city to others in its state, where it only ranks in the 13th percentile for facilities per capita.
Prices on self storage in Nashville can change substantially with a few minutes drive in any direction. Searching for storage in the 37211 ZIP code should yield the cheapest rental rates, as units there average $110.85 a month, lower than anywhere else in Nashville. Storage is highest-priced in the 37220 ZIP code, where you should expect to pay about $170.50 a month for a unit.
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. Storage prices generally reach their peak during the period from May to September, coinciding with moving season. 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. 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.
Expect the price of a storage unit to remain relatively stable throughout the year in Nashville. According to our numbers, seasonal demand is not as extreme here as in other cities on our network. 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. You're most likely to get a good deal on a storage unit in Nashville during the month of March, when the average price is at its lowest, $54.62 a month. You're least likely to get a good deal in September, when the average price is a high $93.92.
It's not uncommon for another community a few miles down the road to offer substanial savings on storage compared to the rates in your community. By widening the breadth of your search, you'll open yourself up to even more facilities and a greater range of possibilities. 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. Knowing whether or not you should look in nearby cities depends on whether or not self-storage (sometimes called mini storage or public self storage) in those cities is less expensive than in Nashville. We've gone ahead and figured that out for you.
Nashville's average price of $89.58 a month for a unit ranks it as the 4th most expensive city for self-storage in Tennessee, which itself ranks as the 39th most expensive state for storage. When searching for storage in Nashville, expect to pay $29.47 more than Tennessee's average price of $60.11.
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 Nashville storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. In Tennessee, the median income is $41,044.00 a year, which would make the average $89.58 unit in Nashville cost 2.62% of a median earner's monthly income. As a percentage of income, storage in Nashville is very expensive according to our scale, its relative price ranking in at the 89th percentile in Tennessee.
Nashville storage prices are very expensive on the national scale as well. When compared with national cities they rank in the 83rd percentile. To put that in more concrete terms, storage in Nashville should cost an average of $17.43 more than the national average price of 72.15.
Searching for a storage unit in Nashville without knowing how much one should cost is no way to go about finding a good deal. Storage prices being as highly-dependent on location as they are, there's little use in comparing the facilities in Nashville with those in other cities you might have rented a storage unit in in the past. But there's no need to worry: we here at SelfStorage.com have all the data to help you go into your storage search well-informed.
The average price of a self storage unit in Nashville is $89.58 a month. If you have long term storage needs, keep in mind that that's an average price of $1074.96 a year. However, it's important to note that this is the average for all storage unit sizes. There can be, and often are, substanial price differences between different unit sizes. Storage units in Nashville come in these standard sizes: 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard size, here's how much you might expect to pay per month in Nashville:
|Storage Unit Size||Average Price in Nashville, TN|
Are you looking for the lowest rate on a self storage unit in Nashville, TN? March is the best month to find cheap storage, and the best place to look for inexpensive storage is in the 37211 ZIP code. The worst month to look for storage is September, when units are at their highest average price, and beware that the 37220 area is costlier than other areas.
Nashville, TN self storage typically costs between $34.5 and $239 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, Nashville had an average home value of $189,500 which in the past year is up 0.067%.