More Than 1 in 3 Americans Went into Debt for Their Latest Move

22 October 2026

A credit report showed that 35% of Americans who relocated in the last five years required taking on debt to finance the move. Published August 19 2026, the report stated 50% of surveyed millennials said the same about their latest move. Of those who relocate, 40% said moving expenses ran twice what they estimated.

Sixteen percent of those surveyed are still recovering financially, Credit Karma reported. Forty percent of respondents reported that the debt incurred because of the move caused them difficulty in enjoying the new place at first. The financial burden of moving also caused conflict within relationships for a third of respondents, Credit Karma reported.

Looking deeper, survey findings showed that 30% spent $5,000 or more on their most recent moving endeavor while 15% paid $10,000 or more, notes figures published by Intuit Credit Karma. How are so many Americans able to pay these expenses? The same report shows 28% of movers charge the costs on a credit card.

In describing the financial impact of moving, survey respondents reported the most impactful financial aspects of their experience. Sixty-one percent of respondents said that expenses associated with settling in after moving were higher than they had anticipated, while 50% reported being surprised by how much additional items or upgrades to the new home cost.

Survey respondents also reported delays across the path to financial goals because of moving costs. Fourteen percent said relocation costs limited their ability to save for future expenses. Ten percent attributed moving expenses to shorter-term delays on their path to achieving long-term financial goals.

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Millennials were hit harder than any other age group by moving debt. Fifty percent took on debt to fund their last move, compared to 23% of Gen Z nonprofit movers. While 37% of Gen X nonprofit movers took on debt to move, contrasting that with the 24% of Baby Boomer nonprofit movers who did the same.

Most respondents who surveyed by Intuit's product arm have recovered from the financial burden brought on by moving. Only 16% of respondents are currently recovering financially, the same number who expect to recover in the future.

The survey behind today's findings was conducted online in July 2026 by Qualtrics for Intuit Credit Karma. 1,029 American adults who relocated in the last five years participated and were surveyed between July 22nd - 24th.