Used Household and Office Goods Moving (U.S.) — Industry-Group Primer

NAICS 2022 code 48421. NAICS = North American Industry Classification System, the standard code set U.S. statistical agencies use to define industries. This is a five-digit NAICS industry; it contains a single six-digit child, 484210, so the two levels are effectively the same thing.

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1. Overview

NAICS 48421 is the "professional movers" industry: companies that pack, load, haul, unload, and briefly store used household belongings and used office furniture — the local crew with a truck, and the interstate van line that carries a family's possessions across the country.[1] It is a physical, labor-heavy, low-margin service business, not a manufacturing or asset-appreciation play.

For an investor, moving demand is a real-time read on household mobility and housing turnover — how often Americans change addresses — and the field is unusually fragmented and old-economy, the kind of setting where roll-ups, franchising, and technology disruption create winners and losers.

This is a short pass-through page. For the full treatment — the investable universe, unit economics, regulation, and outlook — see the child leaf primer, 484210.

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2. What's inside — and why this level equals its one child

NAICS is a nested hierarchy: each five-digit industry breaks into one or more six-digit national industries. NAICS 48421 has exactly one child:

Because there is a single child, the five-digit industry (48421) and the six-digit national industry (484210) cover the same establishments and the same activity. Every figure, boundary, and dynamic at this level is inherited one-for-one from 484210 — the U.S. Census Bureau simply did not split "used goods moving" into finer specialties. So this page carries the ground-truth stats for the level and points you to the child for detail; the child primer is the authoritative source.

One boundary worth repeating, because everyday "moving" is broader than the statistical industry: truck/trailer rental for do-it-yourself moves (U-Haul, Penske, Budget → NAICS 532120), self-storage and portable containers (PODS, U-Box, 1-800-PACK-RAT → NAICS 531130), general freight trucking of new goods (484110/484121/484122), and standalone warehousing (493110) all sit in other codes, even though they compete for the same relocations.[1] See 484210 for the full exclusion list.

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3. How big it is (this level's rollup figures)

Because 48421 has one child, its totals are identical to 484210's. Federal ground-truth figures for the employer side of the industry:

Average firm revenue is only about $2.1 million (2022 receipts ÷ 2022 firm count), well under the U.S. Small Business Administration (SBA) small-business ceiling of $34 million in average annual receipts, so the overwhelming majority of movers qualify as small businesses.[3][4] The firm count (2022 Economic Census) and establishment count (2023 County Business Patterns) come from different programs and years and a firm can run multiple establishments, so the two should not be compared mechanically.

Undercount caveat — important here. These federal figures count only employer establishments. County Business Patterns (CBP) excludes nonemployer sole proprietors, so the headline misses two large layers of the real moving economy:[2] (1) nonemployer and owner-operator movers — independent drivers who own their trucks and hire day labor per job, which is how much interstate household hauling is actually done;[18] and (2) the DIY and container substitutes classified in other codes. Industry tallies that fold in these layers put employment near 480,000 and wages near $13 billion — several times the employer-only federal count.[26] Treat $20.1 billion as the floor for the professional-hauling slice; the total Americans spend to relocate is materially larger. (Full methodology in 484210.)

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4. Investable universe (where value concentrates)

With only one child, all of the level's value sits in that single industry — there is no second segment to weigh it against. The key fact for investors: there is essentially no pure-play public full-service mover. The biggest branded van lines are privately held or agent-owned, so public exposure is indirect and the richest opportunities live in the private market. In brief:

• Public (adjacent only): U-Haul Holding (NYSE: UHAL / UHAL.B) for the DIY-move and self-storage side; ArcBest (NASDAQ: ARCB) for the "you-load-we-drive" U-Pack niche; self-storage REITs (real estate investment trusts) Public Storage (NYSE: PSA) and Extra Space Storage (NYSE: EXR) for the storage real estate around moving demand — none of them a mover.[5][6][7][8]

• Private (where the industry lives): the van-line networks — UniGroup (United, Mayflower), SIRVA (Allied, North American), Atlas, Wheaton/Bekins, JK Moving — plus franchisors (Two Men and a Truck, College HUNKS) and container disruptors (PODS, U-Box, 1-800-PACK-RAT).[9][10][11][12][13][14][15][16]

The full table with scale, ownership, and the agent/owner-operator network model is in 484210, Section 4.

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5. How the money works

Local moves are billed by the hour (a two-person crew plus truck ~$100–200/hr; most local jobs $700–$2,500); long-distance moves are priced by weight and distance plus accessorial charges (a 2–3 bedroom interstate move commonly $3,000–$6,000).[20] National van lines own the brand, customer, and interstate authority while local agents and independent owner-operator drivers do the physical work and pay the van line a percentage of revenue — an asset-light model for the van line, dependent on keeping quality agents in the network.[19] Margins are thin and cyclical, with no recurring subscription revenue; the levers are crew utilization, truck load factor, cargo-claims control, and a base of stable corporate-relocation and military/government contract volume. Full unit economics in 484210, Section 5.

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6. Demand drivers

Moving volume is a leveraged bet on people changing addresses. The dominant near-term driver is residential mobility, which is near record lows: the Census Bureau's American Community Survey reported 11.8% of the population moved in 2024 (2.1% between states),[25] and the Harvard Joint Center for Housing Studies put the 2024 household mobility rate at about 11.2%, the lowest on record, as homeowners with cheap pandemic-era mortgages stay put — the mortgage "lock-in."[24] Secondary drivers: interstate migration patterns (Sun Belt inflows drive profitable long-haul loads), employment and corporate relocation, military moves (permanent change of station, PCS), office/commercial relocation, and substitution toward DIY rental and containers in downturns.[5][10][16] The secular backdrop is a less mobile America — a structural drag independent of the rate cycle. Detail in 484210, Section 6.

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7. Regulation

Interstate household-goods carriers must register with the Federal Motor Carrier Safety Administration (FMCSA), part of the U.S. Department of Transportation, obtain a USDOT number and operating authority, and follow the consumer-protection rules in 49 CFR Part 375 (CFR = Code of Federal Regulations) — written estimates, the bill of lading, the 110% rule on non-binding estimates, and the choice between Full Value Protection and bare-minimum Released Value (60¢/lb) liability.[21] A persistent fraud problem (rogue movers and unlicensed brokers holding goods "hostage") makes reputation an industry-level cost.[21][23] Intrastate (local) moves are regulated by each state. A live wild card: the Department of Defense terminated its consolidated Global Household Goods Contract (GHC) for cause in June 2025, reverting military moves toward the legacy van-line program.[26] Full regulatory map in 484210, Section 7.

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8. Consolidation

Federal data confirm one of the least-concentrated industries around: the top 4 firms hold just 18.6% of revenue, the top 8 22.8%, the top 20 29.4%, and the top 50 only 37.2%; the Herfindahl-Hirschman Index (HHI, a standard concentration measure where anything under ~1,500 is "unconcentrated") is a mere 111.7.[3] Barriers to entry are low (a truck, a crew, insurance) but barriers to scale (interstate authority, a trusted brand, a national agent network, government contracts) are real. Consolidation is visible but not winner-take-all: van-line groups aggregate thousands of small agents; franchisors and private-equity platforms roll up local operators; container and labor-marketplace models unbundle the truck, labor, and storage.[9][12][16][17] Detail in 484210, Section 8.

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9. Risks

The single biggest risk is housing/rate cyclicality — volumes track existing-home sales and mortgage rates closely, and mobility is at record lows.[24] Layered on top: a secular decline in mobility; labor (seasonal, physically demanding, high turnover, workers'-comp exposure);[18] execution and cargo claims; seasonality (a short summer peak against year-round fixed costs); fuel and fleet costs; regulation and reputation (fraud among rogue operators taxes the whole field);[21][23] substitution by DIY and containers; leverage/credit risk at consolidators (see SIRVA's lender takeover);[9] and contract disruption (the military GHC reversal).[26] Full list in 484210, Section 9.

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10. How to invest, and the outlook

Because this level equals its one child, the how-to-invest picture is identical to 484210's. Public exposure is indirect — U-Haul (UHAL/UHAL.B) for DIY-move and self-storage; ArcBest (ARCB) for the U-Pack container niche; self-storage REITs (PSA, EXR) for the surrounding real estate — none a full-service mover.[5][6][7][8] The direct routes are private: buying or backing a local mover with strong route density, acquiring a van-line agency, taking a franchise, funding a private-equity roll-up, or lending to leveraged consolidators.

Near-term outlook (forward-looking judgment). The cycle is at or near a trough — record-low mobility and rate lock-in have depressed volumes, and a durable rebound likely waits on materially lower mortgage rates and thawing home sales, which had not clearly arrived as of 2025.[24] DIY, storage, and container segments have proven resilient as households economize, and consolidation is likely to continue in a fragmented field. Net: a defensive, cyclical, low-margin industry best played through storage/DIY-adjacent public names or hands-on private ownership — not a growth sector, but a durable one tied to the fundamentals of American housing and employment. See 484210 for the complete analysis.

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Sources

Drawn from the child primer, NAICS 484210. This level's stats come from stats-48421.md, whose employer-side figures are identical to 484210's (single-child pass-through).

1. U.S. Census Bureau. 2022 NAICS Definition — 484210 Used Household and Office Goods Moving. https://www.census.gov/naics/?details=484210&input=484210&year=2022
2. U.S. Census Bureau. County Business Patterns 2023 — NAICS 484210 (establishments, employment, annual and Q1 payroll; nonemployer-exclusion methodology). https://www.census.gov/programs-surveys/cbp.html
3. U.S. Census Bureau. 2022 Economic Census — Concentration of Largest Firms, NAICS 484210 (receipts, firms, CR4/CR8/CR20/CR50, HHI). https://data.census.gov/table/ECNSIZE2022.EC2200SIZECONCEN
4. U.S. Small Business Administration. Table of Small Business Size Standards Matched to NAICS Codes. 2023. https://www.sba.gov/document/support-table-size-standards
5. U-Haul Holding Company. Fiscal 2025 Financial Results and Form 10-K (revenue ~$5.83B; self-moving; self-storage; NYSE: UHAL / UHAL.B; self-moving/storage distinguished from full-service moving). https://www.sec.gov/Archives/edgar/data/4457/000095017025078451/uhal-20250331.htm
6. U-Pack / ArcBest. ABF Transportation — U-Pack (U-Pack is an ArcBest/ABF Freight "you-load-we-drive" service; NASDAQ: ARCB). https://www.upack.com/about-upack/abf
7. U.S. Securities and Exchange Commission. Public Storage Form 10-K (self-storage REIT; NYSE: PSA). https://www.sec.gov/Archives/edgar/data/1393311/000162828026007696/psa-20251231.htm
8. U.S. Securities and Exchange Commission. Extra Space Storage Form 10-K (self-storage REIT; NYSE: EXR). https://www.sec.gov/Archives/edgar/data/1289490/000128949026000011/exr-20251231.htm
9. SIRVA Worldwide. SIRVA Closes Transaction with New Ownership Group (Aug 2024 credit/lender recapitalization; Allied & North American brands). https://www.sirva.com/company/news/2024/08/20/sirva-closes-transaction-with-new-ownership-group-positions-the-company-for-continued-long-term-success
10. UniGroup, C.A. About Us / Member Relations; United Van Lines National Movers Study (agent/member-owned cooperative; United Van Lines and Mayflower Transit). https://www.unigroup.com/about-us/member-relations
11. Atlas World Group. Atlas Affiliates (agent-owned; agents own much of the equipment/warehousing). https://www.atlasworldgroupinc.com/affiliates
12. Wheaton World Wide Moving. Wheaton Acquires Bekins Van Lines and Agent Network (Wheaton/Bekins; later acquired Stevens Worldwide; independently owned agents). https://www.wheatonworldwide.com/why-wheaton/company-news/wheaton-van-lines-inc-acquires-bekins-van-lines/
13. JK Moving Services. Company / Leadership (founder-led, privately held national mover). https://www.jkmoving.com/media-center/david-cox-promoted-to-president-of-jk-moving
14. Two Men and a Truck. About Us (large franchised moving system). https://twomenandatruck.com/about-us
15. moveBuddha. These Are the Largest Moving Companies in the Country (van-line networks and franchisors, incl. College HUNKS). 2025. https://www.movebuddha.com/blog/largest-moving-companies/
16. HireAHelper / Move.org. Moving Containers & Labor Marketplaces (PODS; U-Box; 1-800-PACK-RAT; U-Pack; HireAHelper; Bellhop). https://www.hireahelper.com/advice/moving-storage-containers/
17. PR Newswire. Zippy Shell Completes $52.5 Million Capital Raise (containerized moving/storage; Virgo Investment Group, Carlyle financing). 2024. https://www.prnewswire.com/news-releases/zippy-shell-inc-completes-525-million-capital-raise-302144056.html
18. Overdrive. Owner-Operator Niche: Household Goods Hauling Offers Big Bucks for Big Work (owner-operator economics; labor intensity). https://www.overdriveonline.com/business/article/14890142/owner-operator-niche-household-goods-hauling-offers-big-bucks-for-big-work
19. Move.org / Louis Massaro. What Is a Moving Van Line? / Should Your Moving Company Become a Van Line Agent? (agent revenue-share model). https://www.move.org/what-is-a-moving-van-line/
20. moveBuddha / HomeAdvisor / U.S. News. 2025–2026 Moving Cost Guides (local hourly rates; long-distance 2–3BR ranges). https://www.movebuddha.com/moving-cost-calculator/
21. Federal Motor Carrier Safety Administration (FMCSA), U.S. DOT. Protect Your Move — Consumer Rights & Responsibilities; Regulations and Enforcement (49 CFR Part 375); 110% rule. https://www.fmcsa.dot.gov/protect-your-move/consumer-rights
22. U.S. Department of Transportation. FMCSA Continues Nationwide Crackdown on Fraudulent Household Goods Movers and Brokers. 2024. https://www.transportation.gov/briefing-room/fmcsa-continues-nationwide-crackdown-fraudulent-household-goods-movers-and-brokers
23. Harvard Joint Center for Housing Studies (JCHS). Household Mobility Fell to Record Low in 2024. https://www.jchs.harvard.edu/blog/household-mobility-fell-record-low-2024
24. U.S. Census Bureau. American Community Survey — Geographic Mobility, 2024 (11.8% of population moved; 2.1% moved between states). https://www.census.gov/topics/population/migration/guidance/acs-1yr.html
25. Federal News Network / U.S. Transportation Command. Pentagon Cancels Multibillion-Dollar Household Goods Moving Contract (GHC / HomeSafe Alliance terminated for cause, June 2025). https://federalnewsnetwork.com/defense-news/2025/06/pentagon-cancels-multibillion-dollar-household-goods-moving-contract/
26. ConsumerAffairs. Moving Industry Statistics. 2026 (broad-definition employment ~480,000; wages ~$13B). https://www.consumeraffairs.com/movers/moving-industry-statistics.html