The study of local residential mobility is important from several perspectives. First, moving behavior provides insight into the dynamics of individual choice and the timing of adjustment for the single most important component of consumer expenditures. Additionally, household mobility has a direct impact upon the evolving spatial structure of urban areas and results in marginal changes in land use patterns and in the spatial distribution of sociodemographic groups. In fact, this latter implication of mobility has motivated a variety of studies by urban planners and transportation economists who have a practical interest in the aggregate outcomes of household mobility. Some of the outcomes of mobility are commonly observed and widely reported-the postwar decentralization of metropolitan areas and the process of neighborhood change and decline in central cities. Unfortunately, our understanding of the household mobility decision itself remains quite rudimentary.