Section 5 • Customer Traits


located near a college or university campus, facilities can easily see a 10-percent student mix. One must keep in mind, however, that students typically rent between May and August rather than full time like residential or business customers. As such, facilities see a two percent blend of student renters throughout the year.


According to the 2019 Self-Storage Demand Study, approxi-


mately 58.8 percent of renters are women, as seen in Chart 5.2. This is slightly higher than the 52 percent reported in the 2018 Almanac. And while 48 percent of renters were reported as male in 2018, that number has dropped to 41.2 percent. This supports the long-held belief that while the men typically move the goods into storage, it is the women who make the decisions when it comes to renting.


Table 5.1 breaks down gender by gen-  


Male 36.2% Female 63.8%


    37.9%


62.1% Source: SSA 2019 Self Storage Demand Study


48.1% 51.9%


68.5% 31.5%


eration. The data indicates that the highest percentage of female renters are millennials (63.8 percent), with only 36.2 percent of mil- lennial renters being male. For Gen-X renters, those born between 1965 and 1984, as seen in Chart 5.3, 62.1 percent tend to be female and 37.9 percent are male. Baby boomers, on the other hand, have the closest percentages,


with 51.9 percent of renters being women and 48.1 percent being male—a 3.8 percent difference.


Renters who belong to the Greatest Genera- tion are an entirely different matter. For those born between 1930 and 1946, 68.5 percent of renters are men. This is the highest percentage of any cat- egory. Likewise, 31.5 percent of the renters in this segment are women—the lowest percentage across all generations.


As seen in Chart 5.4, 51 percent of renters are


married. And while 18 percent have previously been married, similar to Demand Study results in 2017, ap- proximately 31 percent have never been married.


Where renters live is an important demographic for self-storage


owners to consider. A market with a higher density of apartments may attract more renters due to the fact that most apartments have no or very little storage space. Likewise, in a market area with more single-family homes that are governed by HOAs, self- storage can be attractive if residents cannot park their vehicles on the street, thereby eliminating the garage as a spot for storage.


Approximately 72.1 percent of renters live in a single-family


dwelling according to the SSA Demand Study. Those who live in apartments or condominiums represent 25.7 percent of the mix, while 2.2 percent reside in “other” types of dwellings.


Home ownership is another important demographic for self- storage owners, operators, and developers to take into account.


48 Self-Storage Almanac 2021


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