This study assesses the consequences of housing instability during the first 5 years of a child's life for a host of school readiness outcomes. Using data from the Fragile Families and Child Wellbeing Study (n = 2,810), this study examines the relation between multiple moves and children's language and literacy and behavior problems at age 5. The moderating role of poverty is further tested in this relation. The findings show that moving three or more times in a child's first 5 years is significantly associated with increases in attention problems, and internalizing and externalizing behavior, but only among poor children.