15 Interesting Moving Industry Facts & Stats
Although the business of relocation might not seem so much of a promising business idea, the moving industry is one of the most thriving industries in the United States.
The moving industry indeed has its good and not-so-good days, but so does every other business venture. However, the United States has over 7,000 moving companies operating in over 13,900 locations across the country.
Running a moving company can be very hard and competitive, but it can be a profitable business venture, especially when run correctly.
The moving industry has seen lots of developments over the years. It remains one of the most lucrative ventures with its high rate of demand since more and more people move every year, especially with the number of people moving in New York City. From professionals relocating due to job loss or career change, students moving back in with their parents and families leaving the city for the suburbs. New Yorkers are relocating more than ever.
According to one of the highest rated NYC movers, the number of moves they did last year increased more than 50% percent between March and August compared with the same period the previous year.
This article will show how the moving industry has affected the United States’ economy and what new trends have been introduced to this business venture.
To determine the direction where the moving industry is headed, we’ve made a list of 15 interesting facts and stats about the industry:
#15 About 43 million Americans move every year, with around 3 million making an interstate relocation yearly.
Moving services are one of the most demanded services in the United States. Carrying boxes and furniture from one location to another is not so much fun after a few shoulder and arm aches, so most would rather employ a moving company’s services. In turn, this means more money for business owners in this cycle.
#14 The moving industry employs over 122,600 people and has a combined annual payroll of around $3.6 billion.
#13 Summers are considered the busiest time of year for moving industries, with nearly 60% of annual moves in the US between May to August.
#12 The economic impact of the moving industry was $85.7 billion in 2016.
#11 Individuals with high utility rise for the services of moving companies are:
- Military 16%
- Other Federal Government 2%
- Corporate 38%
- Individuals 44%
#10 Electronic office equipment, such as computers and copiers, made up 18% of all the items moved in the United States in 2017.
#9 The top five moving routes in the United States are; California to Texas, New York to Florida, New York to California, California to Washington, California to Arizona.
#8 Fridays are the busiest days in the week for relocation and moving industries.
#7 The average cost for an interstate move in the US is $4,100; the average cost for an in-state move is $980, with each local mover, hired charges, on average, $25 per hour.
#6 The typical average movers are couples between the ages of 18-34 with one or two kids.
#5 According to the American Moving and Storage Association data, the top 10 states with the highest emigration rates include Illinois, New Jersey, West Virginia, New York, Alaska, North Dakota, Connecticut, Kansas, Michigan and California.
#4 The average American moves about 12 times in a lifetime. That’s every six years for an average lifetime.
#3 Moving locally with a moving company costs lesser than hiring a moving truck and moving by yourself because moving companies cover the labor, packing, the truck, transportation, gas, toll expenses and insurance. Some of them also offer storage services which are sometimes necessary for people whose move-out and move-in dates are not consolidated.
#2 Over 50% of all US moves occur during the second quarter of the year – between the beginning of May and Labor Day (the first Monday of September).
#1 Moving is considered to be one of the five most stressful events in life. The amount of stress that some people experience when relocating is almost as high as when the death of a loved one or a divorce happens.
The future of the moving industry is undoubtedly a bright and promising one, with the prospects revealing the rise in demand for the services of movers. Many Americans depend on movers because they help reduce moving costs and, most importantly, save them from the stress and risks associated with moving.