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 high season comes into full swing on the day after Memorial Day, which is such a popular time to rent storage that those in the industry have taken to calling it 'Crazy Tuesday.' College students looking for a place to keep their things during the summer holiday can also have an effect on high season prices, pushing up prices on smaller units in particular, which is something to keep in mind if you live in a college town.
According to our data, there's very little change in the average price of a storage unit throughout the year in Norfolk, meaning you shouldn't have to put too much thought into seasonality when looking for your unit. Despite the fact that seasonal price changes are less of a risk in Norfolk, they're not impossible, so a good idea might be to play it safe and lock in your rate for the entirety of your stay, if possible. Storage prices are at their highest in Norfolk during the month of February, where they hit an average price of $102.5, while prices are at their lowest in January, where they go for a low $59 a month.
As they are closely linked to real estate prices, self storage unit prices can be very different in one part of Norfolk to another. Storage is cheapest in the 23502 ZIP code in Norfolk, where the average rental price is $90.79. Storage prices are highest within the 6058 ZIP code of Norfolk, where rentals average $171.00 a month.
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. So are there a large or small number of storage businesses operating in Norfolk?
SelfStorage.com has 13 storage facilities in Norfolk, VA listed on its network. The average city in Virginia is home to about 8 storage facilties, 5 less than what can be found in Norfolk, meaning Norfolk has a reasonably-large number of facilities. It should come as no surprise then that Norfolk has the 7th-highest count of facilities out of all 48 cities on our network in Virginia, acting as home to 3.51% of facilities in Virginia. And Norfolk 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 4.
But how does Norfolk compare to the rest of Virginia and the nation on a per capita basis? After all, not controlling for population makes most city comparisons obsolete. Are the 13 storage facilities providing the 233,333 people living in Norfolk with enough storage space? For its 100,000 to 250,000 population bracket, Norfolk comes a bit under the mark in terms of number of self-storage facilities. Cities in this bracket average 18 facilities, 5 more than what can be found in Norfolk. In addition, if we look at Norfolk's per capita facility count, our former findings seem to be definitively validated: Norfolk does seem to have few facilities for its size. Among storage facilities across the United States, Norfolk ranks in the 11th percentile for self-storage facilities per resident. That extremely-low rank indicates a low amount of self storage space for the 233,333 inhabitants of Norfolk, meaning the securing your ideal storage unit could be more difficult in Norfolk than it is in other cities. Even if we restrict our scope of comparison to the state level, Norfolk doesn't seem to offer its population as much storage space as other cities do, attaining a low rank in the 4th percentile for facilities per capita among cities in Virginia.
Finally, it bears mentioning that Norfolk has been experiencing a downward trend in population growth in recent years, losing 0.4% of its population from 2000 to 2010, according to the US Census. Meanwhile, the rest of Virginia as a whole saw a population increase of 13% over that same period. Norfolk's low growth rate may mean that, with fewer incoming residents than elsewhere in Virginia, the demand for storage is lower, but let's not forget that Norfolk already has relatively few facilities for its size., meaning demand from the local population might be just as high.
It's often true that certain areas in a city offer much lower storage rental rates than others. A great way of scoring a dirt-cheap storage unit is expanding the area in which you're searching. 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. But on the other hand, if we can show that self-storage (commonly known as mini storage or public self storage) is cheaper in Norfolk than its surroundings, there's no reason to waste time looking elsewhere.
Norfolk is the 34th most expensive city for self storage in the state of Virginia, with the average price of a storage unit there coming in at $59. Virginia itself is the 13th most expensive state for storage. In general, storage units in Norfolk go for $25.14 less than the state average of $84.14.
These average prices don't necessarily tell you how affordable storage in one city is compared to another, as the cost of living changes from place to place. In order to establish some kind of index of affordability for Norfolk storage, we've developed a 'relative price' scale which takes the cost of living in terms of state median income into account. In Virginia, the median income is $62,444.00 a year, which would make the average $59 unit in Norfolk cost 1.13% 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 29th percentile among other cities in Virginia, meaning self-storage here is relatively cheap.
Norfolk self-storage prices are very cheap on the national scale as well. When compared with cities on our national network they rank in the 22nd percentile. Nationwide, storage costs an average $72.15 a month. Expect to pay about $13.15 less than that for self storage in Norfolk.
It can be difficult to figure out if a certain storage facility's offered price is any good if you don't know how much a unit in Norfolk ought to cost in the first place. 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. In order to help you go into your storage search with the right knowledge, the analysts here at SelfStorage.com have crunched the numbers and processed the data so that you can know what kind of rental rates to expect.
On average, storage facilities in Norfolk charge a monthly rental rate of $59 for a storage unit. To give those thinking of renting storage for a year or more some better perspective, that's about $708 per anum. 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. The prices you'll actually see on units will largely depend upon their size. Self storage in Norfolk comes in these standard sizes: 5x5, 5x10, 10x10, 10x15, 10x20, and 10x30. For each standard storage unit size, here's how much you should expect to pay per month in Norfolk:
|Storage Unit Size||Average Price in Norfolk, VA|
Looking for a highly affordable self storage unit in Norfolk, VA? January is the best time to begin your search for storage, and you'll find the best deals in the 23502 ZIP code. The least optimal time to search for storage is in February, when unit prices are at their zenith, and be aware that the 6058 area is the most expensive in Norfolk for storage.
Norfolk, VA self storage typically costs between $43 and $204 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, the average price of a home in Norfolk is $179,000.