U-Haul Rental Prices Increase As People Leave California

BAY AREA, CA -- Are you one of the many people considering a move from California because of the high cost of living? Perhaps, you've already packed your bags. Well, the high number of people leaving California is apparently driving up moving costs.

The San Diego Union-Tribune reported that the cost to rent a U-Haul truck has skyrocketed in recent days as the demand increases.

"The cost to rent a 26-foot U-Haul truck — big enough to move a three- to four-bedroom home — out of San Francisco headed to Las Vegas reached as high as $2,085 for four days. To rent the same truck going in the opposite direction is only a fraction of that cost — $132," the Union-Tribune reported.

The Union-Tribune cites the high number of people leaving the state as the reason why moving costs have increased.

"There are more people leaving the northern California region than there are trucks available, according to the public policy think tank American Enterprise Institute."

The report is backed by recent numbers released from the state's Legislative Analyst's Office, which found that 6 million left California for other states from 2007 to 2016.

The office found that the lost of about 2.5 percent of the state's total population are "low in historical terms."

--Photo via Shutterstock

Also See:

More People Leaving California Than Moving In: Study