U-Haul Truck Rental Prices – Renting a U-Haul truck to move to the Phoenix metro is far more expensive than last year. But if you want to move from the Valley to San Francisco, Los Angeles, Denver, Seattle, Chicago or Houston, renting a truck is a cheap thing. The increasing cost of moving to the Phoenix area is not a good thing for the growing number of new residents, but it is a good new indicator for the growth of the region.
Offer and demand
Demand for trucks to Phoenix from less affordable cities in the US is increasing, while the number of people who want to move from the Valley to those areas has declined.
U-Haul Truck Rental Prices
“U-Haul fees are an exciting new sign that shows how many more people are being pulled by the Valley,” said growth expert Greg Vogel, CEO of Scottsdale-based Land Advisors Organization.
“It costs eight times to rent a truck to Phoenix from Los Angeles compared to renting one in the other direction,” he said.
Pricier steps for more affordable housing
Vogel and national housing analyst John Burns recently introduced the U-Haul cost indicator on the Land Advisors growth forecast for metro Phoenix.
But no one knows the others are tracking him. The U-Haul website allows people to calculate rental costs from city to city.
The average cost of renting a truck moving from Los Angeles to Phoenix is $ 735, according to the study. It only costs $ 90 to rent a truck from Valley to Los Angeles.
People who leave San Francisco will pay around $ 1,200 to rent a one-way truck to transport their goods to the Phoenix area. Anyone who wants to rent the same truck for the return route only pays $ 120.
The cost of moving the truck was $ 1,730 from Seattle to Phoenix, and only $ 700 for the trip backwards.
And renting a truck moving from Denver to Valley costs $ 650, while $ 300 from here to Denver.
Buying and renting a house is more expensive in all of these areas than in the Phoenix metro.
More people, more jobs
“Phoenix has one of the strongest economies in the country,” Burns said. “We began to see the U-Haul level to see what happened to the migration to the area.”
He said based on prices, it seems like the companies that move themselves basically pay people to get trucks from Phoenix to the cities where the Valley attracts new residents.
The Phoenix metro area is expected to grow by nearly 80,000 new residents by the end of this year, and a little more next year, according to state government estimates.
Only three other metro areas – Houston, Dallas and New York – have attracted more new jobs over the past year, according to federal data.
Nearly 78,000 new jobs have been created in the Phoenix area over the past 12 months.
A good sign for apartment builders
Many people use U-Haul trucks and move to markets to rent apartments or houses, and have not yet sought to buy a house, according to housing analysts.
So all trucks moving towards the Phoenix metro are likely to be a welcome scene for many developers in the area. There are around 20,000 apartments that are being built or planned.
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