Economic Impact of Moving in the United States in 2022
Looking back, there are not so many differences between 2022 and 2020. Between the current Covid-19 pandemic situation and political and economic climate, changes could be seen almost in every American state, industry, and household. Especially in the moving industry. According to the United States Bureau, 8.5% of Americans moved last year, roughly 27.1 million people. Making it the lowest percentage in the last ten years. People’s reasons to relocate changed and they vary from their economic situation due to the pandemic to political and ecological reasons. While economists expect 2022 to be growing solidly in this area, it is yet to be seen whether the pandemic obstacles could be put aside. We are here at Best Long Distance Movers to show you how the moving patterns are changing in 2022. Continue reading this article and check out these trends and the economic impact of moving in the United States.
Top US states of the growing moving industry
The current pandemic situation is helping out smaller cities to develop regarding the moving industry. In the eyes of many Americans, midsized towns are perfect because they want to leave the urban areas due to the risk of infection. The fact that a lot of people are working remotely now has influenced this decision since they have more flexibility now. The top inbound places last year were Vermont, South Carolina, South Dakota, Florida, and Idaho. On the other hand, the most popular outbound places were: New Jersey, New York, California, and Illinois. Talking about their moving reasons, 32.5% of Americans decided to relocate due to a job opportunity. Some of the best long distance movers in Vermont had their hands busy with the 75% of inbound migration last year, while 67% were escaping the beauties of Illinois. If you haven’t thought about this place before, this is your chance to explore Vermont.
Remote work will influence the US moving trends
Over the past two years, the work-from-home opportunities increased and will continue to grow in 2022. More than 45% of remote employees want to continue working from home or to follow a similar way of employment, rather than going back to their offices. This means that these people do not have to follow the strict rules of living simply in one place unable to relocate. Their flexible work schedule allows them to think more about their goals, family, and personal aspirations. They can live wherever they want, and they will be looking for more chances to relocate somewhere else. Having a job on the go gives you the possibility to choose your destination state. Speaking of states that do offer such employment, Colorado remains in the top with 8.7% of remote work opportunities, followed by Arizona (6.8%) and North Carolina (6%). If you want to explore your job opportunities, make sure to contact one of the long distance moving companies in Colorado. Maybe it’s time for you to change your routine and fulfill your dream.
Relocations will continue to happen within the same area
Although a lot of people plans on moving across the country, the reality is a bit different. According to the data collected from USPS, around 85% of people moved within the same city, and only 7% moved within the same state. It is likely that this trend will follow in 2022, seeing that people tend to move around 100 to 150 miles from their original location. Movers will continue to have customers wanting to relocate within the same city, to different suburbs in 2022. A lot of people want to get away from the city, just outside the urban area, especially in New York. Over the past two years, NYC has lost more than 120.000 people. New York suburbs are getting more and more popular and best long distance movers in New York have been getting more and more calls from their potential customers. Movers will not gain so much profit as they used to with cross-country relocations, as this trend tends to fade away. Still, we are witnessing a large economic impact of moving in the United States.
Home prices will not drop in the future
If you are planning on moving in 2022, you would like to know that the prices of houses will not drop anytime soon. Home prices are still quite high and strong. According to the latest statistics, by July 2022 we will expect a rise in home prices by 12%. The market is trying to balance the high demand and short supply by increasing the prices Having said that a lot of people are working remotely and moving from the city, the market cannot follow up with this trend. If you are tight on budget, Mississippi is considered the least expensive state to buy a home with a home value of 114.500$. If this is something that works for you, feel free to contact one of the best long distance movers in Mississippi and get an estimated quote. Due to the high prices, experts consider that moving companies will not have so many offers and that the moving process will be slower this year, regarding the long-distance relocations.
Vehicle transport grows in the West more and more
According to the latest data, 13 out of 23 states in the West saw an increase in auto transport. Movers have been delivering vehicles to individuals everywhere, but lately, they have seen a significant change of direction to the West. It is interesting to know that people were asking a lot for moving quotes regarding car transportation. Whether they are moving or buying vehicles from another state, it has been increasing even before the pandemic. The states that have seen this increase are: Oregon, Idaho, Montana, Utah, Arizona, etc. If you are in one of them and you are thinking of getting a new vehicle, feel free to ask around with one of the local best long distance movers in Montana and be part of this trend. Perhaps the living cost in the West is lower and people tend to move there more. These moving companies offer various services that you be interested in.
The rate of DIY relocations has increased
The biggest reason for this trend in 2022 is that hiring a moving company for a full-service relocation can be quite expensive. In addition, people handling their own relocation think their belongings will be safer with them. On the other hand, a growing number of movers, such as one of the long distance moving companies in California offer an option to combine your DIY move with their services. The most common services used are truck rental and renting a storage unit. Talking about a DIY move, prices range from 500$ for a local relocation to more than 5000$ for a cross-country move. The best recommendation is to contact your local moving company and ask for a rough estimate quote. Sometimes doing things on your own is not the best idea and it’s always good to ask for help.
The moving industry is responsible for the self-storage industry
According to the data from 2020, the self-storage market has been valued at around 48 billion dollars and is expected to grow. Despite all economic obstacles, the self-storage industry is expected to rise and will be by 2024. Downsizing has become a popular trend with people relocating or simply renovating their homes. They tend to get rid of their large possessions and free their home space. Storage is a great idea when you want to stay organized even when it comes to your job. A lot of people tend to rent storage to store their electronics or if they are owning a business. If you are on your way to Texas, make sure to contact one of the best long distance movers in Texas, and gather more information. You will be happy to know that Texas has more than 5000 storage facilities offering various storage services to its citizens. The storage industry is definitely responsible for the economic impact of moving in the United States.
Summer is the busiest time to relocate
When we talk about the average move, the statistics show that the average American moves 11 times in their lifetime. That means more than 40 million people relocate every year in the United States. It is estimated that most relocations occur between May and September, around 80%, which is considered in season. During this time, the demand for moving companies is very high, especially in the summer months: June, July, and August. Mostly in summer, people tend to move to Florida, which has seen an increase in relocations in these months. Also it presents an increase in profit for the moving companies. One of the best long distance movers in Florida is always available for giving estimate quotes. Summer is on the way so you might want to explore this option.
South Dakota moving industry generates the highest annual income
With around 40 professional long distance moving companies in South Dakota, 144 million dollars has been generated every year. These companies are responsible for creating around 850 jobs and 43 million dollars of salaries paid to their workers. Maybe it is the fact that this state is considered as one of the happiest states in the US. This industry creates around 12 million dollars in total taxes. The same goes for Idaho and South Carolina. Whether you are looking for an opportunity for a new job, to grow your business, or retire here, it is a wonderful choice. South Dakota movers are more than happy to help you out with your next relocation.
More than 180,000 people have found a job in the moving industry
The moving industry employs more than 180,000 people in the US and an additional 295,000 in related jobs before and after the relocation. The demand for moving over the past few years has influenced moving companies to hire more and more people. While other industries were hit by the current pandemic situation, this industry has proven to grow stronger than ever. There are about 7000 movers across the US in more than 13,000 locations. Their strength tends to reflect the strength of the overall economy and will continue to grow further. This industry includes local moving, shipping of household equipment and commercial goods, as well as packing and storage services.
Be part of the moving industry
One thing that is always sure is that people will continue to relocate from one place to another. If you want to build your own successful moving company you need to create a detailed business and marketing plan. Be aware that in 2022, it is a competitive industry but when running properly it can be quite profitable. This industry as well as its suppliers together generate around 85 billion dollars in output every year. Having in mind the cost of relocations, local movers tend to make at least 25$ per hour. Regardless of the statistics, it is a tough process but definitely worth it. Having in mind all the things we mentioned, it is quite sure that this industry will continue to grow and expand.
Top moving statistics
- A lot of people moved from big cities to suburbs due to the pandemic in the past few years.
- 33$ of New Yorkers relocated to the suburb of Brooklyn and 29% to the Hamptons.
- 60% of people who relocated moved within the same state.
- 20% of millennials moved in 2020, the highest % among all groups.
- 15.5 million households in the US, with an average size of 2.4 family members move every year.
The moving industry could not predict the events that occurred in 2020 and even today. Due to all the obstacles, the industry has proved to be strong enough to endure moving during Covid-19. We are today witnessing more and more relocations and influences on people’s decision to move. These are all the factors that influence the economic impact of moving in the United States.