Insights on Gen Z and Moving Season: A Recent Survey Findings

Gen Z Leads the Way in Enjoying and Planning for Moving Season

A recent poll conducted by digital insurance company Lemonade revealed that Gen Z is dominating the moving season. The survey of 2,000 Americans who have moved in the last five years showed that Gen Z respondents are not only on top of their finances but also actually enjoy the process of moving, with 57% reporting positive feelings towards it. In contrast, only 22% of baby boomers shared the same sentiment.

As the summer moving season ramps up, Lemonade commissioned the survey through Talker Research to delve into how Americans approach moving, including their preparation, feelings about the process, and the generational differences in moving habits.

The results highlighted Gen Z as the most meticulous planners, with 60% creating a moving budget compared to 55% of millennials, 46% of Gen X, and 38% of baby boomers. Gen Z also allocated the most money for their recent move, focusing on getting their new space ready with furniture and home updates, while baby boomers focused more on the physical aspects like moving trucks and supplies.

Despite their careful planning, four in five respondents exceeded their moving budgets, with an average overspending of $1,057.20. It took the average respondent five months to financially recover from their most recent move.

Interestingly, nearly half of the respondents (47%) said they would overpay for a disaster-free move, with millennials being the most willing to overpay compared to baby boomers. The most unexpectedly expensive parts of moving included renting a moving truck, purchasing packing materials, and temporary storage.

Sean Burgess, chief claims officer at Lemonade, emphasized the importance of simplifying the moving process and not forgetting crucial tasks like updating addresses, insurance, and utilities accounts. While 35% claimed they didn’t forget anything, baby boomers were the least forgetful compared to Gen Z.

For those looking to rent new homes, red flags included discrepancies between pictures and reality, lack of air conditioning, hidden fees, and worrisome lease terms. Air conditioning was a critical factor for baby boomers, while utilities included in rent, the home’s appearance, and up-to-date appliances were considered green flags.

More than three in five Americans owned pets during their move, with over half finding it challenging to rent with a pet. To make the moving process more enjoyable, respondents suggested being fully prepared, inviting friends to help, creating a fun playlist, and treating everyone to dinner at the end of the day.

In conclusion, moving homes can be stressful, but with support from loved ones and proper planning, the process can be simplified. Gen Z prioritized a fun playlist, while baby boomers focused on being fully prepared. Burgess advised leaning on others for help during this potentially chaotic time.

The survey, conducted between May 23 and May 29, 2024, provides valuable insights into the moving habits and preferences of different generations, shedding light on the challenges and joys of relocating.