A new study released by SpareFoot, an online marketplace that streamlines the rental process for self-storage customers, shows residents of the Bridgeport-Stamford-Norwalk metro area in Connecticut spend more money per household on self-storage, moving and freight than in any other large U.S. metro area. The company used data from Geographic Research Inc., a provider of mapping, spatial analysis and geographic information software, to create a list of the top cities for self-storage spending. SpareFoot used estimates for household spending on storage, moving and freight.
This year, households in the Bridgeport-Stamford-Norwalk area will spend an average of $71.53 for storage, moving and freight services, totaling $24.5 million, according to the Geographic Research data. The U.S. average per household is $58.85, with a nationwide total of almost $7 billion, the study found.
Among the 100 most populated areas, only Bridgeport-Stamford-Norwalk breaks the $70-per-household mark for storage, moving and freight expenses.
"One reason storage, moving and freight spending is so high in the Bridgeport-Stamford-Norwalk area is that the region has a bigger percentage of wealthy households than anywhere else in the country," said SpareFoot CEO Chuck Gordon. "Also, the cost of living in Bridgeport-Stamford-Norwalk is about 60 percent higher than the U.S. average."
Following Bridgeport-Stamford-Norwalk is the Oxnard-Thousand Oaks-Ventura area in California at $68.66 per household; Washington, D.C., at $67.39 per household; Boston at $66.49 per household; and San Jose, Calif., at $66.38 per household.
Based in Austin, Texas, and founded in 2008, SpareFoot.com helps consumers find and reserve self-storage units, with comparison shopping tools that show real-time availability and exclusive deals. With a network of more than 6,500 storage facilities ranging from mom-and-pop operations to real estate investment trusts, the company reaches prospective storage renters though partnerships with brands including SelfStorage.com, Apartments.com and Penske Truck Rental.