Renters Will Spend Close to $1,500 on Moving Costs in Current Economy
- Aug 12, 2008
By Anuradha Kher, Online News EditorChicago–More than 50 percent of renters said they have either already spent, or anticipate spending more on their move this year compared to years past, according to a national survey by Apartments.com. Soaring energy costs is a major reason, according to the survey. Fifty-four percent of renters cited professional movers and truck rentals as their two biggest expenses. Furniture followed with 17 percent and bedding, bath and home goods account for 9 percent. According to the American Moving and Storage Association (AMSA), overall price increases reflected in professional moving costs can be impacted by a variety of factors including rising fuel prices, higher equipment costs and a shortage of qualified truck drivers, further increasing labor costs. However, they are primarily determined by distance and weight. In light of the current economic conditions in the U.S., more and more Americans are open to relocating for employment opportunities and moving closer to urban centers and public transportation to reduce commuting time and costs. And with 90 percent of Apartments.com survey respondents packing up to move this year, renters across the country are sure to feel the premium price tag associated with their recent or upcoming move.The majority of survey respondents (39 percent) said they will spend between $501 and $1,500 on moving expenses while 16 percent top $2,500.