Key takeaways:
- More than a third (35%) of Americans took on debt to move in the past 5 years, including half of millennials. Roughly one in six (16%) say they are still recovering financially from their last move.
- 4 in 10 (40%) say their move ended up costing at least twice what they expected, including 55% of millennials. New furniture (27%) was the most common budget-buster.
- 40% say the financial burden of moving made it difficult to enjoy their new place at first, and roughly half of Gen Z (49%) and millennials (53%) admit they would’ve made different financial decisions had they known the true cost of moving.
- Nearly a third (32%) say money-related stress from their move caused conflict with a partner or family member, rising to 46% of millennials and 40% of Gen Z.
- More than half (53%) would rather live paycheck to paycheck somewhere they love than live comfortably somewhere they don’t. To stay where they want, 22% live in a smaller space than they’d like and 11% put up with pests like roaches or mice — 22% of Gen Z.
Moving can mean a fresh start, but for many Americans, it comes with a financial hangover. New data from Intuit Credit Karma found that more than a third of American adults (35%) who’ve moved in the past five years took on debt to do so, climbing to half of millennials (50%).
The true cost of moving, and the stress it causes
Three in 10 movers (30%) spent $5,000 or more on their most recent move, and 15% spent $10,000 or more. Here’s the full breakdown:
- $1,000–$2,499: 23%
- $2,500–$4,999: 23% (26% of Gen Z and millennials)
- $5,000–$9,999: 15% (19% of millennials)
- $10,000 or more: 15%
Four in 10 movers (40%) say their move ended up costing at least twice what they originally expected, a figure that rises to 55% among millennials.
It’s not surprising, then, that 47% say the move itself was cheaper than getting settled afterward, with new furniture topping the list of expenses that ended up costing them more than expected.
For many movers, the financial stress starts before they even find a place to live. Finding affordable housing in the first place is the top challenge for Gen Z (38%), and even once a place is found, saving enough money to cover the move ranks among movers’ biggest stressors overall (28%). Layer the upfront costs on top of that (e.g. deposits, down payments, first and last month’s rent) and it becomes the most financially stressful part of the process for movers as a whole (32%).
Sacrifices Americans make to afford a move
While one third of movers (33%) cut back on non-essential spending to afford their move, that wasn’t enough for everyone. A quarter (25%) had to dip into savings or an emergency fund, while 18% cut back on essentials like gas and groceries. The approach also looked different by generation: nearly a third of millennials (31%) admit to charging more to their credit cards than they normally would, while 42% of Gen Z worked extra hours or overtime.
Covering costs with credit
More than a quarter of movers (28%) put moving costs on a credit card. Personal loans (10% overall) were more common among younger generations, used by 15% of millennials and 14% of Gen Z, as were buy now, pay later services (9% overall, 13% among both Gen Z and millennials). All told, 35% took on some form of debt to move, and despite the cost, a majority (55%) say it was worth it.
The financial hangover lasts months
Financial recovery from a move rarely happens on a fixed timeline. Asked how long it took to feel financially recovered from their move, meaning savings were restored and moving-related debt was paid off, only 19% said less than a month. A quarter of movers (25%) said it took three to six months, rising to 31% of Gen Z and 32% of millennials, and 16% say they’re still recovering.
That recovery period often comes at the expense of other financial priorities. Movers say their moving costs delayed saving for a vacation (23%), building an emergency fund (22%), paying off existing credit card debt (21%, 26% of millennials), saving for retirement (19%, 24% of Gen Z), saving for a down payment on a home (17% of Gen Z and 16% of millennials), and paying down student loans for 15% of Gen Z.
The emotional toll of a financially stressful move
The financial strain of moving doesn’t stay contained to a bank account. Four in 10 movers say the financial burden made it hard to enjoy their new place at first, and the same share (40%) admit they would’ve made different financial decisions had they known the true cost of moving going in, including about half of Gen Z (49%) and millennials (53%).
For some, the financial strain bled into their relationships — nearly a third (32%) say money-related stress from their move caused conflict with a partner or family member, rising to 46% of millennials and 40% of Gen Z.
And for some, they had no choice —13% of Gen Z say their home had unsafe or unlivable conditions, such as mold or pest infestation.
The price of living where you want to live
Despite the strain, many movers don’t regret their decision. Just over a quarter (27%) say their move hurt their finances but improved their quality of life, and 28% say it improved both. For some, that tradeoff is a calculated one: 58% of millennials and 47% of Gen Z moved to an area with a higher cost of living specifically for a job opportunity or better school district.
That tradeoff often comes with compromise. To live somewhere they wanted, movers say they’ve lived in a smaller space than they’d like (22%), paid more than 30% of their income on rent or mortgage (21%), accepted a longer commute (19%, rising to 25% of Gen Z and 24% of millennials), taken on roommates they wouldn’t have otherwise chosen (13%, 20% of Gen Z), or tolerated pests like roaches or mice (11%, 22% of Gen Z).
Even so, plenty of people say it’s worth it. More than half (53%) would rather live paycheck to paycheck somewhere they love than live comfortably somewhere they don’t, and 62% say the financial premium of living where they currently do is worth it (71% of millennials).
At the same time, many people feel boxed in by circumstances beyond their control. Four in 10 (40%) say that if they could earn the same salary somewhere cheaper, they’d move tomorrow, and roughly a third (34%) feel financially “stuck” where they live or say the cost of moving has kept them in a home they wanted to leave.
Furnishing on impulse
For many movers, a new address becomes justification to buy things they don’t necessarily need. Nearly a third (32%) admit that moving is an excuse to replace furniture or decor they didn’t actually need to replace, climbing to 41% of Gen Z and 49% of millennials.
That impulse can come with regret: 35% say they’ve made an impulse furniture or decor purchase after a move that they later regretted, including 48% of Gen Z and 51% of millennials. Yet, some people prioritize speed over cost – 32% would rather overpay to get their new place done fast than take their time and save money, rising to 51% of millennials.
Social media plays a major role for young people furnishing a new home. Half of Gen Z (50%) and 56% of millennials say social media influenced purchases they made when or after moving.
To furnish their new place, movers turn most often to big box retailers like Target, Walmart, and HomeGoods (37%), followed by Amazon (35%). IKEA draws 19% overall but skews younger, pulling in 25% of Gen Z and 32% of millennials, while 14% of Gen Z say Instagram or TikTok ads directly shape where they shop.
“Moving can mark an exciting new chapter, but it can also be a financially and emotionally draining experience,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “Between deposits, moving costs and the expense of getting settled, the bills can add up quickly, and our findings show some Americans are draining their savings, relying on credit or even accepting the reality of living paycheck to paycheck to live somewhere they love. Once you’re in a new home, it can also be easy to get caught up in the excitement and spend more than you intended to make the space feel finished. If you’re already carrying debt from your move, try not to compound it with purchases that can wait. Start with what you truly need, set spending limits before you shop and give yourself time to pay down your debt and save for the rest.”
Methodology
This survey was conducted online within the United States by Qualtrics on behalf of Intuit Credit Karma between July 22, 2026 and July 24, 2026, among 1,029 American adults who have moved within the past five years.