Despite inflation and increasing living costs, Americans are moving less frequently. According to U.S. Census Bureau data compiled by MoveBuddha, only 12.1% of Americans moved in 2023, a decline from prior years and lower than any period since 1948, according to moveBuddha. That equates to around 41 million people, but still marks a downward trend in moving activity.
Residential moving has been a staple of the moving services industry. Yet, with fewer relocations each year, the volume of household goods being moved is shrinking, even as associated costs, fuel, vehicles, labor, are rising.
Industry growth vs. revenue stagnation
The U.S. moving industry generated approximately $23.2 billion in revenue in 2024, rising at an average annual growth rate of around 2.7–3.0% over the past several years, according to IBISWorld. However, net profit margins across many moving firms are narrowing dramatically.
Supply chain inflation has increased trucking costs, fuel surcharges, and labor expenses. Meanwhile, fierce competition among thousands of small operators keeps pricing grounded, many moves are booked at mid-range fixed rates defined by local market norms.
Why competition is squeezing profitability
Today, there are nearly 9,500 moving service businesses in the U.S., employing over 110,000 people. Entry barriers are low, many operate solo or with small crews, listed on online platforms without overhead or compliance costs. That creates downward price pressure in local markets, particularly in big cities like New York where competition is intense.
With rates fixed by hourly brackets or flat local pricing, businesses can’t pass cost increases to customers without losing bids. The result: shrinking margins or minimal profitability despite steady or rising expenses.
Decreasing volumes, increasing overhead
Lower move frequency means less revenue per truck over time. Combined with inflation, especially labor and fuel, the cost per move has increased, yet customer price expectations haven’t kept pace.
Players in logistics and home services confirm a pattern: many are operating near break-even or at losses for standard residential moves, offsetting losses only through add-on services like storage, specialty handling, or premium service tiers.
What that means for moving providers and consumers
For smaller moving companies, profit-driven expansion is now tough without scale or specialization. For consumers, the outcome is mixed:
- Some companies cut corners to maintain rates, risking service quality
- Standard moves provide limited flexibility or protection
- Transparent, full-service regional players still charge similarly, but with less margin for error
That’s why Empire Movers and Storage NYC emphasizes high-value, design-aware moving services that justify premium rates and protect reputation.
How Empire Movers protects clients and margins
Rather than compete on price, we differentiate by service specialization:
- Premium residential and commercial moves designed for high-value design installations
- Receiving warehouse capacity to serve delicate, paginated storage needs
- Hoisting services for oversized furniture or panel installations
- White glove care for textured finishes and fragile surfaces
- Precise wall-mounting and debris cleanup post-install
These service tiers command sustainable pricing, maintain margin integrity, and give clients transparency and peace of mind.
When volume dips, service alone sustains value
The decline in household moving volume and intense competition may pressure standard operators, but for clients who prioritize craftsmanship and care, moving shouldn’t feel like a commodity transaction. Value lies in trusting the professionals who align expertise, logistics, and transparency, even if the industry margins have thinned.
Goempiremovers.com stands out not by undercutting prices, but by ensuring every move reflects precision, compliance, and consistency, because while volume shrinks, your expectations shouldn’t.
Alt text for image: Two professional NYC movers carrying minimal household furniture out of a modern apartment, reflecting the declining volume of moves and shrinking profitability in the moving industry.