Renters and homeowners will likely need more money for moving expenses. The cost of moving is predicted to hit $454 this month. This is about 7% more than the same time last year to the new report by HireAHelper(link that is not internal), a marketplace to get estimates from professional movers.

The cost of moving to the following location reached record highest levels in 2022 and are over $400 this year. As of 2023, prices for moving are increasing by 4% over the same period in the previous year, as per the report. According to the report, nearly half of all moving takes place in the summertime, when moving costs are the highest.

Moving costs are increasing in a few areas of the United States. For instance, in New Mexico, moving costs have increased by 39% over the initial five months of the year, which reached $503, then by Kentucky (up 30 percent and earning $504) and Minnesota (up 25 percent and increasing to $443). Wisconsin and Alabama have the most expensive moving costs in the United States, running an average of $515 and $512respectively.

On the metro scale moving companies in Cypress, Texas, and Louisville, Ky., are experiencing some of the most significant cost increases for moving this year, with a rise of 39% per day.

Silver Lining: Moving Costs to Fall Later This Year

Anyone who is planning to relocate could get relief shortly. Moving costs are predicted to fall later this year. “Last year, we saw the cost soar from $389 in April to $427 in May, which didn’t happen this year, as the costs largely lingered around the $400 mark,” researchers write. The research team expects moving expenses to be at their highest in August before dipping to less than $400 by the close of this year. HireAHelper expects nationwide costs for moving to fall to a minimum of $395 in December.

In some areas of the United States, movers already see less expensive prices. While Maine is one of them, and it saw the cost of moving increase by 51% in 2017; however, the state is witnessing a drop of 15% in the average price of moving at the beginning of the year. This is the most significant reduction in the entire country. Oklahoma moving companies are noticing that costs are 10 percent lower than in 2022.

Watch for Moving Scams

Since more and more people are moving in the summer months, the amount of moving scams reported is on the rise. Moving scams are predicted to record an increase of 35% from year to year until 2023’s end, according to an independent analysis conducted by HireAHelper(link to external site), in which researchers looked at Better Business Bureau complaints filed regarding the market for movers. Scams are accused of scamming consumers out of an anticipated $1.59 million by 2023, which is a rise of 42% from 2022.

According to the study, the typical victim has suffered losses of $836 from an annual moving scam. The most popular frauds include:

• Absent-minded: The incidents of moving companies never turning up to the scheduled move were responsible for 26% of reported scams. This happens when a mover firm asks a customer to deposit money or pay an upfront payment but fails to arrive for the job. The so-called moving company will then be uncontactable and is also not available.
• Moving fraud, It’s when fraudulent moving firms appear to be actual companies and carry out the task of moving the possessions of people’s homes but demand a ransom from the consumer to return their possessions. It is also referred to by the term “hostage load,” as the movers require additional fees. This has been the case for 24 percent of BBB complaints this year. The rise in these complaints has led the Federal Motor Carrier Safety Administration to begin a crackdown(link external) this spring.
• Change-of-address scam It is time scammers fool those who recently relocated to pay a fee (usually at least $100) to have your address updated to match their new address. Victims are directed to an online site disguised as similar to the U.S. Postal Service. (The USPS offers a change-of-address service in person for free or a small $1.05 fee online.) Frauds involving a change of addresses were responsible for 31% of complaints — the most significant percentage, but that’s lower than the 37% reported in the previous year, according to the report.