U-Haul utilizes a proprietary rates and distribution system. But a U-Haul spokesperson told Jalopnik that "it is reasonable to conclude there is far greater demand for one-way equipment in the market reflecting higher costs for departures."īusiness Insider has reached out to U-Haul and Budget, asking for additional data that would suggest a spike in demand, how long they predict this demand will last, and elaboration on how rental rates are determined.īudget has yet to respond, but a spokesperson from U-Haul provided Business Insider with the same statement it did Jalopnik: It should be noted that one-way rentals are historically more expensive than round-trip ones. With a September 30 departure date, U-Haul moving truck rates from Austin, Texas, to Los Angeles, California, ranged from $711 for a 10-foot truck to $935 for a 26-foot truck. Perry said higher outbound prices from California are a long-term trend that's "not necessarily related" to the COVID-19 pandemic or wildfires, but Business Insider took a look at rental-truck rates for ourselves. Not long after, Jalopnik reported similarly, where an apparent increase in demand is causing moving-truck rates out of California to spike. Moving to California is getting really cheap due to low demand and a surplus of available trucks." -Mark J. Perry, a professor of finance and business economics at the University of Michigan-Flint, who tweeted: "Leaving California is getting expensive due to high demand and a shortage of available trucks. The trend was first pointed out by Mark J. Certainly higher than rates from other cities to California. And the moving-truck rates from California cities - well, they're high. An easy way to determine who's moving where is to look up moving-truck rates to and from cities.
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