With Texas Tech University dominating the city's economy and cultural life, Lubbock is full of young people from all over Texas, giving it a a far more young and vibrant feel than it would otherwise merit out alone as it is on the west Texas plains. Indeed, when school is out for the summer, the city seems to revert back to the quiet little town it would otherwise be. Lubbock's new symbol is the windmill, as hundreds of these stand in long rows across the plain as you approach the city. If you're from Lubbock, or are a Tech student or alumni, none of that was news to you. But do you know how many storage facilities there are in Lubbock, or how much you should expect to pay for a unit?
Figuring out if a certain storage facility's offered price is any good is a hard call to make if you don't know how much a unit in Lubbock ought to cost in the first place. 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 Lubbock the average monthly rental rate for a storage unit is $55.33. At those rates, a year-long stay in a unit will cost about $663.96, in case your storage needs are more long term. Note that this is the average price regardless of size and shouldn't be taken too literally. The price you end up paying will depend on the size of the unit you decide to book. There are six standard sizes of storage units in Lubbock, including: 5x10, 10x10, 10x15, 10x20, and 10x30. Below you'll find the average price by each size:
|Storage Unit Size||Average Price in Lubbock, TX|
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. About how many storage facilties are serving the Lubbock area?
According to our estimates, there are approximately 51 storage businesses operating facilities in Lubbock. Other cities in Texas average only 16 storage facilities, 35 less than what's available in Lubbock, which means Lubbock is home to a large number of storage businesses. Indeed, Lubbock ranks as the 9th city out of the 179 cities on our network in Texas in terms of number of storage facilities, accounting for a whopping 1.78% of facilities in the state. And Lubbock doesn't just have a lot of storage facilities for its state, either: it also surpasses the national average of 9 facilities per city by 42.
But of course, there are vast differences in population between Lubbock and other cities in Texas, and even more so nationwide, so not controlling for population makes little sense. Do the 51 self storage facilities in Lubbock offer the 225,859 people living there enough extra storage space? How does Lubbock 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 Lubbock has a whopping 33 more storage facilities than that, we can conclude that Lubbock has plenty of extra storage space for its size. We've further strenthened Lubbock's relative surplus of storage space by examining its per capita count of facilities. On a per capita basis, Lubbock ranks in the 53rd percentile nationwide, so there's a fairly-high amount of storage space for the 225,859 people living in Lubbock. But having a larger amount of storage space per capita on the national scale is not the same on the state level, and in Texas Lubbock does not get as stellar results, ranking in only at the 48th percentile for self-storage businesses per capita.
The fact that Lubbock is growing, but not doing so at a particularly rapid rate, also bears mentioning in our discussion of storage facilities per person. The US Census reports that Lubbock saw 12.7% more people move there in the first decade of this century. That's not insignificant, though it is 7.9% less than the 20.6% population that Texas saw altogether. Lubbock's low growth rate may mean that, with fewer incoming residents than elsewhere in Texas, the demand for storage is lower, but let's not forget that Lubbock already has relatively few facilities for its size., meaning demand from the local population might be just as high.
Just as home prices will differ from neighborhood to neighborhood in Lubbock, so will self-storage rates. Look for a cheap unit in the 79415 ZIP code, where the average price of $50.56 is the lowest in Lubbock. Lubbock's highest-priced neighborhood for storage lies within the 79424 ZIP code, where storage rental rates are an average $118.07 a month.
It's often true that certain areas in a city offer much lower storage rental rates than others. A more expansive search could help uncover some hidden storage gems. The extra drive to the facility could very well be worth the monthly savings. But is it worth expanding your search, or is self-storage (commonly called mini storage or public storage) cheaper in Lubbock than its surroundings? We asked the analysts at SelfStorage.com to find out.
Lubbock is the 112th most expensive city for self storage in the state of Texas, with the average price of a storage unit there coming in at $55.33. Texas itself is the 22nd most expensive state for storage. When searching for storage in Lubbock, expect to pay $17.70 less than Texas's average price of $73.03.
While average prices will give you a good idea of how much you should expect to spend, they don't necessarily tell us if storage is relatively affordable in that city. That's why we've developed a 'relative price' scale that takes state median income into account. In Texas, the median income is $48,902.00 a year, which would make the average $55.33 unit in Lubbock cost 1.36% of a median earner's monthly income. When we compare this percentage to other cities in Texas, we find that it ranks at the 36th percentile and is therefore a relatively cheap place to rent a storage unit.
When placed on a national scale and compared to cities across the country, storage prices in Lubbock are still relatively cheap, ranking at the 35th percentile in terms of relative expense. Expect to pay $16.82 less than the national average of $72.15 when searching for self storage in Lubbock.
Self storage prices are highly seasonal, with rental prices often fluctuating widely throughout the year. This seasonality, which is primarily generated by national moving patterns, hits its zenith in the late spring and early summer, and its nadir in the fall and winter. The single busiest day of the high season is typically National Moving Day, also called 'Crazy Tuesday' by storage facility operators for the amount of activity they see that day, which is the day after Memorial Day. Cities with high proportions of university students may see more pronounced seasonal highs and lows, as many students book storage units during the summer.
Self storage prices in Lubbock are not nearly as affected by seasonal changes as other cities are, meaning there's a greater likelihood you'll find stable year-round prices. 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. Shop for self storage in Lubbock during December to get the best price, when units go for an average of $34.71. Prices reach their highest in February, which at an average price of $94.25 a month you might want to avoid.
Trying to locate an extremely inexpensive self storage unit in Lubbock, TX? December is the best month to find inexpensive storage, while you'll land the best rental rate in the 79415 ZIP code. The worst time of the year to look for storage is February, when units are at their priciest, and be warned that the 79424 area is the priciest.
Lubbock, TX self storage typically costs between $40 and $205 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, Lubbock had an average home value of $140,000 which in the past year is up 0.042%.