It's nearly impossible to know what a good monthly rate on a storage unit is if you don't know what kind of prices to expect in Chesapeake. Any past experiences you might have booking storage in other cities will be of little help here, as the average price of a storage unit in one city could be hundreds of dollars higher than the next. But don't worry: SelfStorage.com has all the data you need in order to go into your storage search well informed.
In Chesapeake, self storages rents at an average rate of $71.14 a month. If your're in need of storage for a longer term, remember that at that rate a unit will cost you approximately $853.68 a year. Keep in mind that that average rate does not differentiate between the different unit sizes, and so should be taken with a sizeable grain of salt. The prices you'll actually see on units will largely depend upon their size. The standard sizes of storage units available in Chesapeake include 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard unit size, the average rental rate in Chesapeake is:
|Storage Unit Size||Average Price in Chesapeake, VA|
Certain areas of Chesapeake can be significantly cheaper or more expensive for storage than others. Storage is cheapest in the 23323 ZIP code in Chesapeake, where the average rental price is $87.48. On the other hand, the 23322 ZIP code is the priciest area of Chesapeake to rent a storage unit, with rental rates averaging $134.41 a month.
Changing seasonal demand often causes storage prices to swing between highs and lows during different parts of 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 day after Memorial Day (which those in the moving and storage industries often refer to as 'Crazy Tuesday') is typically seen as the start of the high season and is frequently the most expensive day to rent storage during that season. Seasonal prices are often even more extreme in college towns, where students book a large number of self storage units during their summer vacation.
The difference in price between high and low seasons is negligible in Chesapeake, which experiences low seasonal effects, according to our data. Still, booking during the low season and locking in your price with the facility is an important part of getting a good deal on self storage. May is the least expensive month for storage in Chesapeake, with an average price of $47.1 for a storage unit. February is the most expensive month, when storage goes for an average rate of $134.09.
Sometimes storage prices in the next town or suburb over are significantly cheaper than those in your immediate area. 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. To some, the greater distance to the facility is worth the greater savings. 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 Chesapeake. We've gone ahead and figured that out for you.
Chesapeake is the 28th most expensive city for self storage in the state of Virginia, with the average price of a storage unit there coming in at $71.14. Virginia itself is the 13th most expensive state for storage. To give you a better idea of what this means, Chesapeake's average price is $13.00 less than the state average of $84.14.
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 Virginia is $62,444.00, which means the average storage unit in Chesapeake would require 1.37% of a median earner's monthly income. This is a moderately small percentage of income to spend on a self-storage unit compared to rates in other cities, ranking at the 42nd percentile among other cities in Virginia, meaning self-storage here is relatively cheap.
The same holds true on a national scale, where self-storage rates in Chesapeake are comparatively relatively cheap, ranking in at the 35th percentile among cities on our nationwide network. Nationwide, storage costs an average $72.15 a month. Expect to pay about $1.01 less than that for self storage in Chesapeake.
A greater number of storage facilities equates to more available storage space, so the number of facilities operating in your city will be one of the most important factors in your storage search. If I'm searching for storage in Chesapeake, should I expect plenty of available storage facilities, or only a few?
According to our estimates, there are approximately 28 storage businesses operating facilities in Chesapeake. If you were wondering how that compares to other cities in the state, it's a very high number of facilities for a city: the average city in Virginia offers only 8 storage facilities, 20 less than Chesapeake. Furthermore, Chesapeake accounts for a full 7.55% of facilities in Virginia and ranks as the 3rd-largest storage market out of all 48 cities in Virginia. Chesapeake isn't only a large storage market in terms of its state, either, as its 28 facilities give it 19 more than the national average of 9 facilities per city.
'But what about self storage facilities per capita?', you might be thinking. Comparing Chesapeake to other cities in Virginia irrespective of population does, indeed, make little sense. Do the 28 self storage facilities in Chesapeake offer the 222,455 people living there enough extra storage space? How does Chesapeake compare to similarly-sized cities? Cities with populations of 100,000 to 250,000 average 18 storage facilities, 10 fewer than Chesapeake's 28, which leads us to conclude that Chesapeake has a decent amount of storage space for a city its size. But if we look at the number of facilities per person in Chesapeake, our story begins to change: indeed, these figures seem to have disputed our claim that Chesapeake has a large number of self-storage facilities per person. On a national scale, Chesapeake ranks in the 33rd 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 222,455 people living in Chesapeake might have a harder time locating the right storage unit for them than they would in other cities. Even for a Virginia city, Chesapeake doesn't seem to be inundated with an overabundance of self-storage space, as it only ranks in the 21st percentile for storage businesses per person among cities in the state.
The fact that Chesapeake 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 Chesapeake saw 11% more people move there in the first decade of this century. That's not insignificant, though it is 2% less than the 13% population that Virginia saw altogether. The relatively few people moving to Chesapeake might not be generating as much demand for storage as they are in faster-growing cities in Virginia, but keep in mind that Chesapeake already has few storage facilities for its size, meaning it's not quite the storage seeker's market.
Are you hunting for the single best bargain on a self storage unit in Chesapeake, VA? May is the best time to begin your hunt for storage, while you'll land the best rental rate in the 23323 ZIP code. Do your best to avoid searching in February, when prices are at their highest, and be alert to the fact that the 23322 area is the most expensive part of town for storage.
Chesapeake, VA self storage typically costs between $32 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, Chesapeake had an average home value of $265,000 which in the past year is up 0.020%.