Self Storage Report 2022-template-v8

TENURE OF RESIDENCY

NUMBER OF PEOPLE IN THE HOUSEHOLD

45%

31% NATIONAL

42%

40%

35%

OWNED OUTRIGHT

30%

25%

23%

20%

45% SURVEY

15%

16%

10%

12%

5%

2%

4%

0%

1

2

3

4

5

6 OR MORE

SURVEY

NATIONAL

28% SURVEY

OWNED WITH A MORTGAGE

This chart shows that self storage is more likely to be used by couples rather than singles or families. Previous data on the age of customers showed most were over 40, which would remove many of the young singles from the national average. The age demographic of users also supports the concept that many users may have families no longer living at home. However, the higher use by divorcee’s and separated couples would lead to an increased use by singles. This data has remained relatively stable over the past 5 years.

33% NATIONAL

28% SURVEY

RENT

36% NATIONAL

There is clear indication that people owning their own home are more likely to use self storage compared with renters. This trend has been gradually increasing over the last 4 years, with owned outright up from 40% to the current figure of 45%. This ties into the other demographic data that suggests customers tend to be older and wealthier, and would also more likely own their own home.

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