1. A computer-implemented method comprising: as implemented by one or more processors according to computer-executable instructions: monitoring operating consumption of a restricted resource by individual virtual machines of a plurality of virtual machines executing within a current operating location, wherein the operating consumption indicates consumption of the restricted resource by the individual virtual machine while executing within the current operating location; for individual virtual machines within the plurality of virtual machines, determining an estimated restricted resource consumption cost of migrating the individual virtual machine based at least in part on a combination of the operating consumption of the individual virtual machine and an estimated restricted resource consumption corresponding to the restricted resources utilized in the migration of the individual virtual machine; determining a migration schedule, wherein the migration schedule identifies an order of migration according to the estimated restricted resource consumption cost of migrating the individual virtual machines; and transmitting one or more migration commands to migrate the individual virtual machines according to the migration schedule.