For the past 10 years, if you have lived in or visited Denver you’ve probably noticed construction. Denver has been growing rapidly over the past decade, which means an increase in real estate and a decrease in available space. It’s no surprise that Denver is a popular destination. You’ve got pro sports, Rocky Mountains, a clean downtown, booming tech scene, and short ride to some of the best slopes in the world. This state capital has been growing at a rate of 2.7% per year. To put that into perspective, that means that roughly 14,000 people are moving to the Denver metropolitan area every year. With that type of growth, it’s no wonder that space in the Denver area is becoming limited and real estate prices are booming. This year alone, real estate prices have risen about 8% in the mile-high city. This may seem high but for the previous few years, Denver real estate has been growing at 10% per year.
Here are a few Real estate facts about the Mile-high city
- Single family homes stay on the market for an average of 27 days
- The median home price is $410,000
- Suburbs like Wheat Ridge and Arvada are increasing in price at a faster rate than Denver
New developments in downtown seem to spread throughout all of Denver and now are even headed towards some of the outlying areas such as Arvada and Westminster. With the limited real estate and growing population, the need for storage is larger than ever before. Let’s break storage in Denver down by the numbers and then we will give you some solutions for your storage needs.
The largest Self Storage Operators in Denver
- Extra Space Storage
- Public Storage
With thousands of locations each across the United States, it is no surprise that the three largest storage companies have a big presence in Denver.
The average monthly prices for storage units in Denver
- 5×5 Unit averages $65
- 5×10 Unit averages $80
- 10×20 Unit averages $200
Overall, the storage rates in Denver, are above the national averages of $45, $100, and $175.
If these prices still seem high or you can’t find an available unit, there are a few other solutions in the Denver City area.
STOW IT– We’re like Airbnb for storage. We specialize in storing items on wheels such as cars, boats, RVs, motorcycles, and trailers. We help hosts make additional income and we help renters save money. We have several spots in the Denver metropolitan region including a few in Arvada, Aurora, and Westminster. We are a Colorado based company that was started in 2016. We currently have over 400 spaces throughout the Front Range of Colorado. You can see all our listings at www.stowit.com.
SquirrelBox Valet Storage– This amazing service is just about as easy as storage can get. SquirrelBox will deliver you the boxes you need. Then you just pack your items into the boxes and schedule a pick-up time. Then a SquirrelBox employee comes and grabs the boxes. They take the items to a secure storage facility and you can have your items delivered back to you at any time with a 48-hour notice. This saves you the hassle of having to go to the storage unit and sift through your items just to find that antique lamp your grandma gave you. If you have stuff and want it to be stored, visit www.squirrelboxstorage.com.
Both solutions are going to be about 20-50% cheaper than traditional storage units in the Denver area.
If you are interested in earning passive income as a STOW IT hosts, we are always looking for more spaces. We give you benefits like guaranteed payments, customer service, and a $3,000 host guarantee as insurance. We have hosts that make over $1,000 a month just renting their unused space. We hope to see you on STOW IT soon as our newest host!