Summary
- • Approximately 31 million Americans move each year
- • The average American moves 11.7 times in their lifetime
- • About 3 million interstate moves occur annually in the US
- • 65% of moves in the US are within the same county
- • 17% of moves are to a different county within the same state
- • 18% of moves are to a different state
- • The average cost of an interstate move is $4,300
- • The average cost of a local move is $1,250
- • Moving costs have increased by 10-20% since the COVID-19 pandemic
- • 44% of moves are job-related
- • 30% of moves are family-related
- • 26% of moves are housing-related
- • The moving industry generates about $86 billion annually
- • There are approximately 18,000 moving companies in the US
- • The moving industry employs over 180,000 people
Take a deep breath, because chances are, you or someone you know will be part of the swirling mass of 31 million Americans who make a move each year. From job transfers to housing upgrades, and even the occasional escaping the in-laws scenario, the intricate dance of the moving industry affects us all in some way. With an average American shuffling residences 11.7 times in their lifetime, its no surprise that this $86 billion industry keeps over 180,000 people on the move. So, whether youre a DIY enthusiast eyeing that rental truck or opting for the full-service packing extravaganza, get ready to explore the wild and woolly world of relocation, where statistics are king and the only constant is change.
Demographics
- Millennials are the age group most likely to move
- People aged 18-34 move twice as often as those 35-54
- Renters are five times more likely to move than homeowners
- 65% of 18-29 year olds have moved in the past 5 years
Interpretation
In a world where change is the only constant, millennials are leading the charge with their prowess for packing boxes and changing addresses. Twice as likely to move as their older counterparts, these young movers are upending the notion of settling down. Renters, in particular, are the nomads of the housing world, flitting from one lease to the next more frequently than homeowners change lightbulbs. With 65% of 18-29 year olds experiencing multiple moves in the past five years, it seems the only thing these individuals are 'settling' for is a new adventure around the corner.
Industry Economics
- The moving industry generates about $86 billion annually
- There are approximately 18,000 moving companies in the US
- The moving industry employs over 180,000 people
- The moving industry has a 3.6% annual growth rate
- The moving industry has a profit margin of 10.5%
Interpretation
The often overlooked moving industry is no longer just about relocating possessions from point A to point B; it's a multi-billion dollar operation that keeps America on the move. With 18,000 companies and over 180,000 employees dedicated to orchestrating seamless transitions, it's no surprise that this sector boasts an impressive $86 billion annual revenue. Despite facing the dreaded traffic jams of uncertainty and competition, the moving industry keeps forging ahead with a 3.6% growth rate and a profit margin of 10.5%, proving that there's money to be made in the art of packing up and starting anew.
Moving Costs
- The average cost of an interstate move is $4,300
- The average cost of a local move is $1,250
- Moving costs have increased by 10-20% since the COVID-19 pandemic
- The average cost to move a 3-bedroom house locally is $1,680
- The average cost to move a 3-bedroom house long-distance is $5,630
- The average cost of moving supplies is $50-$100
- The average moving truck rental costs $155
- The average cost of full-service packing is $1,000
- The average cost of moving a 4-bedroom house locally is $2,300
- The average cost of moving a 4-bedroom house long-distance is $7,400
- The average cost of moving a studio apartment locally is $400
- The average cost of moving a studio apartment long-distance is $1,900
Interpretation
In the tumultuous realm of moving, where couches become as heavy as elephants and boxes seem to multiply like rabbits, the financial landscape is no less daunting. The numbers paint a picture of a world where the cost of relocating can rival that of a small vacation or a stylish new wardrobe. From the price of a local shuffle to the expense of a long-distance odyssey, every nook and cranny of the moving process demands its own toll. It seems that even the humble moving truck, a stalwart companion in countless transitions, demands its cut of the pie. So, as we navigate through these treacherous financial waters, let us remember that every dollar spent is a step closer to a new beginning, a fresh start – or in some cases, just a really well-packed box.
Moving Frequency
- Approximately 31 million Americans move each year
- The average American moves 11.7 times in their lifetime
- About 3 million interstate moves occur annually in the US
- 13% of Americans move each year
- 11% of the US population moves each year
- The average person moves 12 times in their lifetime
Interpretation
In a country where change is as constant as traffic on the freeway, statistics show that Americans are not only skilled at navigating new beginnings, but practically experts at it. With approximately 31 million individuals embarking on a journey to change their address each year, one can't help but wonder if the American Dream is simply a never-ending game of musical chairs. From coast to coast, an average of 11.7 moves in a lifetime highlights a long-standing tradition of restless feet and curious minds. With 3 million interstate moves annually, it's clear that land isn't the only thing of interest that's being traversed. So take heed, fellow citizens, for in a nation where 13% of the population is on the move each year, the only thing standing still is the mailbox waiting for your change of address notice.
Moving Logistics
- The average weight of household goods moved is 7,400 pounds
- The average move takes 8-16 weeks from planning to completion
- The average move distance is 50 miles
- The average time to unpack after a move is 182 days
- The average moving insurance claim is $400
- The average person spends 60 hours packing for a move
Interpretation
These moving industry statistics paint a vivid picture of the chaos and long-winded process that is relocating. With an average weight of 7,400 pounds, it's no wonder the average person spends a whopping 60 hours packing for the move, equivalent to binge-watching an entire TV series. Add to that the 8-16 weeks of planning to completion timeline, and you've got yourself a moving marathon that could rival a season of Survivor. And let's not forget the endurance test of unpacking, with an average of 182 days to restore order in the new abode – that's almost half a year of searching for lost socks and misplaced coffee mugs. All in all, this data suggests that moving isn't just a physical process, it's a mental and emotional marathon where the finish line might just be a fully unpacked bookshelf and a $400 insurance claim.
Moving Methods
- 25% of people who move rent a truck and move themselves
- 35% of people who move hire professional movers
- 40% of people who move use a combination of professional movers and DIY
- 43% of people moving long-distance choose to fly to their new home
- 57% of long-distance movers drive to their new location
Interpretation
In the world of moving, choices abound like items in a cluttered attic. With 25% opting to channel their inner road warrior and rent a truck, and 35% throwing caution (and heavy lifting) to the wind by hiring professional movers, it's clear that when it comes to relocation, you can either be the captain of your ship or let someone else steer you to calmer waters. But for the brave 40% who dare to embrace the gray area between DIY and full-service, it seems they've found the elusive sweet spot of moving nirvana. And as for the long-distance voyagers, whether soaring through the skies in search of new beginnings or embarking on a road trip filled with both excitement and exhaustion, these statistics reveal that the journey to a new home is as varied and unique as the individuals making it.
Moving Patterns
- 65% of moves in the US are within the same county
- 17% of moves are to a different county within the same state
- 18% of moves are to a different state
- 62% of moves are within the same city
- 85% of moves in the US are domestic
- 15% of moves in the US are international
- 40% of Americans consider moving to a different state
- 70% of moves are within 50 miles of the original home
Interpretation
It seems that Americans have perfected the art of finding the better half, the grass is greener, and the grass is more reliable next door, as 65% of moves in the US stay cozy in the same county, while a daring 18% test the waters by crossing state lines. With 85% embracing domestic adventures and only 15% venturing beyond, it's clear that most prefer a relocation tale that stays closer to home. Amidst this intricate dance of boxes and new beginnings, it appears that for many, the wanderlust bug may nibble, but ultimately, proximity still remains the reigning queen of moving decisions.
Moving Seasons
- Summer months (June-August) account for 50% of all moves
- The least popular month for moving is December
- 80% of moves occur between April and September
- 60% of moves occur on Friday or Saturday
- 50% of moves occur between Memorial Day and Labor Day
Interpretation
As the sun shines bright in the sky, so do the moving trucks roll out in full force during the summer months, where every other household seems to be on the move, attempting to beat the heat and relocate to greener pastures. December, the forgotten month in the moving industry, often finds itself devoid of the chaos and hustle of boxes and packing tape, as people opt to cozy up by the fireplace instead. From April showers to September heatwaves, it appears that the love affair with moving peaks during the warmer seasons, with Fridays and Saturdays being the favorite days for a fresh start. Memorial Day to Labor Day marks the ultimate migration period, where half the nation seems to have caught the moving bug. In the dance of change and choice, these statistics tell a tale of seasons, schedules, and the eternal quest for a new chapter.
Reasons for Moving
- 44% of moves are job-related
- 30% of moves are family-related
- 26% of moves are housing-related
- 51% of interstate moves are for corporate relocations
- 20% of moves are related to retirement
- 45% of people who move do so for better housing
- 30% of moves are due to family changes (marriage, divorce, etc.)
- 22% of movers cite lower housing costs as a reason for moving
- 25% of moves are related to changes in marital status
- 20% of moves are work-related
- 15% of moves are education-related
- 38% of moves are to a larger home
- 17% of moves are to a smaller home
Interpretation
In the intricate ballet of life, our moves tell a story more nuanced than a mere change of address. From the corporate tango to the family waltz, the choreography of our relocations unfolds in a symphony of statistics. Job-related moves dominate the stage, with housing and family ties following close behind. Whether seeking a new start, pursuing a dream job, or simply downsizing to fit life's ever-changing soundtrack, each move reflects a chapter in the dance of our lives. So, as we pirouette from one home to the next, let us remember that the steps we take, guided by job prospects, family bonds, or the siren song of a new beginning, shape the rhythm of our existence.