Some of the most successful storage finds occur when the storage seeker includes nearby towns, suburbs, and neighborhoods in their search. A more expansive search could help uncover some hidden storage gems. The longer trip to the facility could easily be worth the monthly savings, particularly if you only plan on accessing your unit occassionally. 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 Orem. We've gone ahead and figured that out for you.
With its average price of $67.5 a month for a unit, Orem is the 11th most expensive city for self-storage in the state of Utah, which itself is the 23rd most-expensive state for storage. To give you a better idea of what this means, Orem's average price is $4.14 less than the state average of $71.64.
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 Orem storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. In Utah, the median income is $56,991.00 a year, which would make the average $67.5 unit in Orem cost 1.42% of a median earner's monthly income. When we compare this storage price as a percent of the local median income to other cities in Utah, we find that it ranks in the 66th percentile, making it a moderately expensive place to rent storage.
But when you compare the price of self storage as a percent of income in Orem with cities nationwide you get a very different result: it ranks at the 38th percentile, making it relatively cheap to rent storage here. Nationwide, storage costs an average $72.15 a month. Expect to pay about $4.65 less than that for self storage in Orem.
Before you start your storage search in Orem, it's important that you know how much a unit in Orem typically costs. Even though you may have booked storage units in other cities in the past, prices could be quite different in your current location, which makes it difficult to know what the standard price is. But there's no reason to worry, as we've gone ahead and calculated all the necessary data so that you can begin your storage search with a firm knowledge of the local industry.
self storage renters in Orem pay an average montly rate of $67.5. That monthly rental rate would come out to a yearly price of about $810, should you be thinking of renting for that length of time. But before you go out and search for storage within the context of that figure, it's important to note here that that average price includes all standard sizes of storage units. Prices for the various unit sizes are, of course, very different from each other. In Orem you'll have the option of renting six standard storage unit sizes, such as 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. The average monthly rental rates for each are:
|Storage Unit Size||Average Price in Orem, UT|
Changing seasonal demand often causes storage prices to swing between highs and lows during different parts of the year. This seasonality is primarily driven by moving season, which lasts from May to September and generally causes storage prices to spike. The single busiest day for self-storage businesses is typically the notorious 'National Moving Day' (which facility operators have dubbed 'Crazy Tuesday' for the chaotic scene at many facilities) the day after Memorial Day. 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.
The price difference between high and low seasons in Orem is minimal, which means you shouldn't have to worry about huge rate changes from one season to the next. 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. Those looking for self storage in Orem will find the lowest prices in April, with its average price of $35.83. October, however, is the most expensive month, averaging $91.
Over the course of your search you'll likely be comparing a number of facilities against one another to find the right option for you. Most would agree that the more storage businesses there are to compare, the better. After all, who doesn't like options? So are there a large or small number of storage businesses operating in Orem?
Based on our data, we estimate that there are about 13 storage facilities doing business in the Orem, UT area. Across Utah, approximately 9 facilities are located in each city on average, 4 less than the 13 available in Orem, meaning Orem is home to a few more facilities than the average city. Orem also boasts the 5th highest count of storage facilities out of all 31 cities in Utah, making up 4.89% of the state's facility count. Even by national standards, Orem boasts a large number of facilities, 4 more than the national average of 9 facilities in each city.
On the other hand, comparing the total number of storage facilities in one city to another irrespective of the number of people that live in each city makes little sense, even when we're comparing Orem to other cities in Utah. So how does Orem, with its population of 95,248, compare to cities with similar populations? It turns out that the average city in the 50,000 to 100,000 population bracket has 11 self-storage facilities listed on our network. That's 2 fewer facilities than are listed in Orem, leading us to conclude that Orem is slightly above-average among cities of similar size. Per capita data, on the other hand, seems to have invalidated this notion that Orem provides an immense amount of extra storage space for its community. Per person, Orem ranks in the 36th percentile for self-storage facilities among cities across the nation. That means that 13 storage businesses serving a city of 95,248 people isn't a very high number, and indicates that finding the necessary storage space in Orem could be more difficult than in other cities. Even when we only compare Orem 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 46th percentile for facilities per capita among cities in Utah.
Another thing about Orem we feel we should mention is that while it has grown in the past decade, it hasn't done so by as much as the rest of Utah has. Orem saw a small 12.8% jump between the 2000 and 2010 census, 11% less than the 23.8% the state of Utah experienced as a whole. But remember that, despite the fact that population growth probably isn't generating a great amount of demand for storage in Orem, the city already has relatively few facilities for the size of its current population.
Just as real estate prices do, storage prices can change from one block in Orem to the next. Searching for storage in the 84058 ZIP code should yield the cheapest rental rates, as units there average $80.79 a month, lower than anywhere else in Orem. You probably won't be finding the best deal on storage in the 84057 ZIP code in Orem, which with an average price of $89.20 a unit is the highest-priced area in town.
Attempting to find a bargain on a self storage unit in Orem, UT? April is the best month to search for storage, while the greatest bargains will be located in the 84058 ZIP code. If you can, try not to conduct your storage search during October, when units are at their highest average price, and beware that the 84057 area is the most expensive in Orem for storage.
Orem self storage typically costs between $34 and $134 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, Orem had an average home value of $213,900 which in the past year is up 0.091%.