It's often the case that storage prices can swing to the opposite end of the spectrum within a few blocks in the same city, just as real estate values are liable to do. One of the best pieces of advice we can give customers looking for the cheapest storage in their area is to expand the breadth of their search. Sure, it might be more of a pain to drive to the facility, but hundreds of dollars in potential savings might alleviate that. But is it worth expanding your search, or is self-storage (commonly called mini storage or public storage) cheaper in Laredo than its surroundings? We asked the analysts at SelfStorage.com to find out.
With its average price of $55 a month for a unit, Laredo is the 113th most expensive city for self-storage in the state of Texas, which itself is the 22nd most-expensive state for storage. When searching for storage in Laredo, expect to pay $18.03 less than Texas's average price of $73.03.
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. 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. The median income in Texas is $48,902.00, which means the average storage unit in Laredo would require 1.35% of a median earner's monthly income. Compared to the price-as-percent-of-income in other Texas cities, Laredo ranks at the 34th percentile, making storage here relatively affordable.
The same holds true on a national scale, where storage in Laredo is comparatively relatively cheap, ranking at the 34th percentile among cities nationwide. Nationwide, storage costs an average $72.15 a month. Expect to pay about $17.15 less than that for self storage in Laredo.
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. The day following Memorial Day is typically the busiest of the high season, and is known in the industry as 'National Moving Day' and 'Crazy Tuesday for the number of people who decided to move and rent storage on that day. 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.
Our data tells us that seasonality is slightly more pronounced in Laredo than in many other cities, its highs a bit higher and its lows a bit lower. The best way to keep seasonal changes at bay is to negotiate with the facility when you first book your unit for a single rate that will remain unchanged for the entire time you stay there. You're most likely to get a good deal on a storage unit in Laredo during the month of July, when the average price is at its lowest, $54.5 a month. You're least likely to get a good deal in November, when the average price is a high $140.33.
Scoring a great deal on a storage unit in Laredo has everything to do with knowing what kind of price range to expect. 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. That's why the analysts at SelfStorage.com have crunched the numbers so that you can know what to expect before you begin your storage search.
In Laredo the average monthly rental rate for a storage unit is $55. At those rates, a year-long stay in a unit will cost about $660, in case your storage needs are more long term. 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. There can be, and often are, substanial price differences between different unit sizes. Storage units in Laredo come in these standard sizes: 5x10, 10x10, 10x15, 10x20, and 10x30. Below you'll find the average price by each size:
|Storage Unit Size||Average Price in Laredo, TX|
Self Storage rates can change dramatically from one neighborhood to the next in Laredo. Storage is cheapest in the 78043 ZIP code in Laredo, where the average rental price is $97.88. Storage is priciest in the 78041 ZIP code, where you should expect to pay about $106.27 a month for a unit.
Some communities are home to plenty of storage businesses, offering those looking for storage a wide variety of choices, while other communities are less-well served and may need to expand their search into neighboring cities and suburbs. So are there a large or small number of storage businesses operating in Laredo?
32 storage facilities in Laredo, TX are listed on SelfStorage.com's facility network. Laredo is home to a slightly-higher number of storage facilities than most other cities in Texas. The average city in Texas is home to 16 storage businesses, 16 less than what can be found in Laredo. Furthermore, Laredo accounts for a full 1.12% of facilities in Texas and ranks as the 16th-largest storage market out of all 179 cities in Texas. The same holds true on a national level: Laredo is home to 23 more facilities than the US average of 9 facilities per city.
But how does Laredo compare to the rest of Texas and the nation on a per capita basis? After all, not controlling for population makes most city comparisons obsolete. Approximately 226,124 people live in Laredo, TX. Is that a large population for a city with 32 self-storage facilities, or a small one? Other cities in the 100,000 to 250,000 population bracket have an average 18 storage facilities listed on our network, 14 fewer than Laredo. By that number, we can confidently say that Laredo, TX has plenty of extra storage space. But is there indeed a relative surplus of storage space in Laredo for the size of its population? Per capita data seems to have disproven this. On a national scale, Laredo ranks in the 37th percentile for self-storage facilities per person, clearly indicating that most other cities on our network offer a greater number of storage businesses per capita. In other words, due to a relative lack of extra storage space, the 226,124 people living in Laredo might have a harder time locating the right storage unit for them than they would in other cities. Even when we only compare Laredo to other cities in its state, it still appears to have relatively little self-storage space for the size of its population, coming in at the 26th percentile for facilities per capita among cities in Texas.
Another thing about Laredo we feel we should mention is that it's growing, and rapidly, having seen its population increase by 25.9% between the 2000 and 2010 census, a 5.3% higher growth rate than the 20.6% the state of Texas experienced as a whole. But of course, a surging population isn't the only reason to think that storage in Laredo might be in high demand: combine that with a low number of facilities per person and you've got a recipe for a red-hot storage market.
Looking for an especially cheap self storage unit in Laredo, TX? The best bargains can be found during July within the 78043 ZIP code. Try to avoiding looking for storage during November, when unit prices are at their highest, and be attentive to the fact that the 78041 area is the most expensive part of town for storage.
Laredo self storage typically costs between $61 and $180 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, Laredo had an average home value of $154,000 which in the past year is up 0.253%.