Residential mobility has received notable attention in the literature, yet there remains limited consensus on how and when mobility is associated with detriments to children's development. Drawing on a nationally representative sample of 19,162 children in the Early Childhood Longitudinal Study followed from kindergarten through eighth grade, this study compared cumulative, timing‐specific, and interactive models of mobility. Results found that mobility during middle childhood and early adolescence was negatively associated with children's cognitive skills, with short‐term effects that dissipated over time. In contrast, associations with psychosocial functioning emerged in relation to early and middle childhood mobility. Effects of residential mobility were robust to more conservative modeling techniques and adjustments for school mobility.