Occupancy • Section 7
The South Atlantic Table 7.8 shows quarterly rates for the South Atlantic re- gion, which is not divided into subregions. This region’s highest occupancy rate was 92.4 percent in Q3 2016, and its lowest rate was 87.7 percent in Q1 2018, a 4.7 percent difference. Q2 2020 increased 1.1 percent to 90.6 percent from 89.5 percent in Q1 but edged down 0.1 percent from Q2 2019.
Chart 7.5 reflects the common seasonal increases from
Q1 to Q2 and decreases from Q3 to Q4. The region’s oc- cupancy rates shifted between the low 90s and high 80s throughout the period from Q3 2016 through Q2 2020.
The South Table 7.9 shows the East South Central area of the South region had occupancy rates in the high 80s or low 90s for the entire period from Q3 2016 through Q2 2020. The Q2 2020 rate was 90.4 percent, up 0.9 percent from 89.5 percent in Q1 2020 and the same percentage as Q2 2019. Q3 2016 had the highest rate at 92.2 percent. Q1 2019 had the lowest, at 88.8 percent. East South Central’s rates edged down from Q3 to Q4 and showed upticks from Q1 to Q2 throughout the years listed in the table.
Table 7.10 reveals the West South Central area of the
South region also posted occupancy rates in the high 80s or low 90s for the whole period between Q3 2016 and Q2 2020. The lowest rate was 88.4 percent in Q1 2019. The highest rate was 91.4 percent in Q3 2016. The most sig- nificant quarterly change up or down was from Q3 2016 to Q4 2016, when occupancy fell by 2.4 percent.
Comparing the South region’s two areas, Chart 7.6
shows the West South Central area had lower occupancy rates than the East South Central in every quarter except Q4 2019 (90.3 percent in both) and Q4 2017 (89.9 percent in West South Central and 89.7 percent in East South Central). As with the East South Central, rates in the West South Central fell from Q3 to Q4 and rose from Q1 to Q2 in both areas from Q3 2016 through Q2 2020.
The West As Table 7.11 shows, the Mountain area of the West region posted its highest occupancy rate in Q3 2019, at 92.4 percent, and its lowest rate in Q1 2019, at 89.7 percent, a spread of 2.7 percent. Q2 2020 was 92.3 percent, up 1.6 percent from 90.7 the prior quarter and up 0.9 percent from 91.4 percent in Q2 2019. Rates consistently rose from Q1 to Q2 and fell
from Q3 to Q4 for the entire 2021 Self-Storage Almanac 63
period from Q3 2016 through Q2 2020. The greatest quar- terly change was a 2.1 percent increase from Q1 to Q2 2017.
The Pacific area of the
West region, as shown in Table 7.12, had occupancy above 90 percent in every quarter from Q3 2016 through Q2 2020. The highest rate was 93.9 percent in Q3 2016, and the lowest was 90.9 percent in Q4 2018, a difference of three percent. Q2 2020 was 92.3 percent, up 0.6 percent from 91.7 percent the prior quar- ter. Q2 2020 edged up slightly from 92.1 percent in Q2 2019.
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2
Source: Radius+
92.2% 89.9% 90.0% 91.5% 91.5% 89.7% 89.6% 91.7% 91.5% 89.6% 88.8% 90.4% 91.5% 90.3% 89.5% 90.4%
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2
Source: Radius+
Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2
Source: Radius+
91.4% 89.0% 88.7% 89.9% 90.9% 89.9% 89.0% 89.7% 89.9% 89.4% 88.4% 89.8% 90.5% 90.3% 89.4% 90.2%
92.4% 90.1% 90.0% 91.4% 89.7% 88.0% 87.7% 89.3% 91.6% 89.6% 89.3% 90.7% 91.4% 89.7% 89.5% 90.6%
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