This research examines the relationship between personal mobility rate (number of lifetime moves/respondent's age) and health status. A contextual analysis is proposed in which the health consequences of relocation depend not only on the immediate circumstances surrounding a move, but also on the broader context of the individual's residential history, current life situation, and aspirations for the future. Two hundred and forty-two adult employees completed an initial survey of lifetime residential history, current residential desirability, employment experience, and perceived housing options for the future. Three months later, a panel group of 121 respondents completed a follow-up survey of emotional and physical well-being. Frequent relocation was directly associated with a greater number of illness-related symptoms, but the impact of mobility rate was largely mediated by psychological factors. Health problems were more prevalent among high-mobility individuals characterized by low rather than high levels of environmental exploratory tendency; among low-mobility persons reporting low versus high levels of residential choice and congruence; and among low residential-quality individuals who perceived future residential options to be unavailable rather than available. © 1983 Academic Press Inc. (London) Ltd.