A Visual Breakdown of Home Improvement Spending by State, in 2018

Table of Content

• The Most Popular Home Improvement Projects & Products
• Fun fact about home improvement: Ace Hardware had the highest customer satisfaction score of all DIY home improvement stores.
• Home Remodeling Market Growth
• Have a Question or Want a Free Market Report?

PremierGarage has nearly 00 franchised territories across the U.S. and Canada. We focus on remodeling projects that make the garage more organized and functional based on each client’s specific set of needs and goals. Home automation technology has become increasingly popular in recent years.

DIY sales from lumber yards in the US amounted to $103.6 billion in 2019. Single people are less likely to make home improvements than married people. Other challenges included keeping to the budget they’d set, sourcing the correct products, facing unexpected issues, keeping to a schedule, financing the renovation, educating themselves, and choosing style details.

The Most Popular Home Improvement Projects & Products

Meaning for every $100 spent on the home remodeling, the homeowner will receive back $56 when they sell the house. Compared to the projects of more established homeowners, recent homebuyer remodeling projects were larger in size and scope (3-4 rooms instead of 1 room). Thus, these projects called for larger spending than the projects completed by the short- and long-term homebuyers. In 2021, median spending on remodeling projects grew to $18,000 which was 20% more than 2020, consistent with recent growth trends. The significant revenue growth in 2021 was driven by the market fundamentals – an increase in the number of home remodeling projects and increased spending per project. High humidity and harsh treatment cause a lot of damage to a bathroom.

There have been many changes to the home improvement industry over the past couple of years, so it’s very interesting to see how home renovation statistics are changing in 2022. The average monthly spending on private construction has been increasing since 2011. Customize your marketing efforts at the micro level with valuable remodeling expenditures data for more than 26,000 individual ZIP codes around the country. The complete dataset comes in an instantly downloadable Excel spreadsheet.

Fun fact about home improvement: Ace Hardware had the highest customer satisfaction score of all DIY home improvement stores.

As a Premium user you get access to background information and details about the release of this statistic. However, out of that percentage, 5% of them did admit that they attempted to tackle the job before they made the final decision to hire a professional. Some of the factors besides the size of the home that can cause a drastic range in pricing are location, types of materials used, underlying issues, and mechanical repairs. It's expected to only grow over the next few years thanks to the many trends and factors that are known for effecting this industry. If you're searching for home improvement statistics, keep reading.

For instance, if you are planning on only remodeling a single room, then the price for your renovation will be decreased drastically. When it comes to figuring out who the key players are in the home renovation industry, there are a lot of factors that you will need to consider because the industry has such a vast market base. The U.S. home remodeling market was estimated to be worth over $340 billion in 2020. Pandemic lockdowns and remote work options were also contributing factors.

Home Remodeling Market Growth

The U.S. remodeling industry earned $1.1 billion in revenue in 2021. The good news is that there are many websites dedicated to helping match up property owners with reputable home improvement professionals. It’s easier than ever to do the work you need yourself and hire professional help for the big projects. Kitchens and baths continue to be the most popular projects, even though they are the most pricey and involved.

Having more spare time on hand and spending more time at home generated a surge in DIY projects. The 2021 increase in remodeling activity was driven, in part, by the U.S. aging home inventory, and the record home sales, amid a significant home market price appreciation. Thus, the home remodeling market includes wholesalers and retailers of home improvement materials and supplies, contractors, builders, and remodeling design firms. Home remodeling is expected to reach $432 billion in 2022, a 17% increase over 2021. Home remodeling generated $369 billion in revenue in 2021, a 9% increase over 2020.

In-depth economic analysis of the most significant issues and latest trends driving the housing industry. Get the latest updates on key developments in the housing industry. If you are one of those folks who seems to have the eye and know just where to find a home for everything, the decluttering business is a growing industry showing great profit potential. PremierGarage leverages over a decade of franchising experience to give prospective franchisees the opportunity to partner with a brand that is committed to excellence at every level.

We make the lives of landlords, tenants and real estate investors easier by giving them the knowledge and resources they care most about. It’s about time the internet had a single place with all of the most up-to-date information from leading experts in property management, investing and real estate law. Many homeowners in regions where hurricanes or other natural disasters have hit intend to repair or reinforce their homes.

Have a Question or Want a Free Market Report?

The next question to consider is whether to start your own business or buy a franchise. A study conducted by FranNet found that 92% of franchises were still in business after two years, and 85% after five years. Alternately, studies find that 25% of independent businesses fail within their first years, and 50% within five years. From those numbers, we can surmise that franchises have a higher overall success rate than independent startups. Franchises operate under a predetermined business model, backed by a brand name with a proven track record.

What's more, home remodeling and renovating are both referred to as home improvement. The pandemic has made some homeowners are leery of germs and pathogens, so there will be more filtration systems and features that clean the air in the home. If you were on the fence about remodeling, this home remodeling statistics and data should be helpful to you. This data didn’t get altered by much compared to the year before when the spending reached $1 trillion. The data reports that homeowners performed 34% of home improvements in the United States under 34 years old.

Global Home Improvement Statistics

Pandemic-related supply-chain interruptions resulted in higher home remodeling materials prices and additional revenue for suppliers. Historically, the question of whether remodeling will increase the value of the house -- and by how much -- has been one of the top deciding factors for most home remodeling activities. In this post, we focus mostly on home remodeling – bigger projects that add to a home’s value. I tend to gravitate towards business and technology topics, with a deep interest in social media, privacy and crypto. I enjoy testing and reviewing products, so you’ll see a lot of that from me here on EarthWeb. Now you can be more prepared than before reading this information about essential home remodeling statistics.

Another trending home remodeling ideal comes in the form of going green. This is not just about Eco-friendly solutions but also the addition of greenery inside the home. Since making trendy videos plays a major role inside hustles, there will be a lot of creativity going into these side hustle spaces. Today’s homeowners seem to desire to show off their personalities by adding that splash of unique color, design, and style to their walls.

In 2018, baby boomers and Generation X-ers made up 81% of all homeowners who were renovating.

However, the market might have taken a dip in 2020 due to current circumstances, according to home improvement market research. Smart home security market alone is expected to be about $31 billion. There are four leading causes of death in the construction industry.

About 41 million homes incorporated automation technology in 2021; that number is expected to reach 63 million by the end of 2022, according to Time and Statista. Smart tech is now an industry standard as homeowners seek products and services that make their lives easier, their homes safer, and homeownership an easier overall endeavor. Home security continues to be the most popular upgrade, with an increase of 18% of homeowners opting for it in 2018 vs. 15% in 2017, and 12% in 2016.

25 Fantastic Home Remodeling Statistics for Every Homeowner

Table of Content

• How Much Does It Cost to Remodel a Room?
• Home Improvement Industry Statistics : Trends, Spending, And Growth
• Housing Economics
• Technology Installations and Upgrades

While home improvement is a broad category, many remodeling industry trends focus on helping homeowners grow within their homes while making meaningful, functional, and sustainable adjustments. The bulk of projects Americans are undertaking are small scale (under $5,000), but big projects such as renovating kitchens and baths are growing in popularity. Most homeowners spent between $5,000 and $10,000 improving their homes in 2018, with those in more densely populated and metropolitan areas spending closer to $18,000. Home improvement and renovations in the U.S. totaled over $350 billion.

What's more, home remodeling and renovating are both referred to as home improvement. The pandemic has made some homeowners are leery of germs and pathogens, so there will be more filtration systems and features that clean the air in the home. If you were on the fence about remodeling, this home remodeling statistics and data should be helpful to you. This data didn’t get altered by much compared to the year before when the spending reached $1 trillion. The data reports that homeowners performed 34% of home improvements in the United States under 34 years old.

How Much Does It Cost to Remodel a Room?

In 2021, 55% of homeowners tackled a remodeling project, a 2% increase from the previous year. It seems that home remodeling has become substantially popular enough that homeowners are eager to spend a lot on home renovations and improvements. According to home remodeling statistics, Miami ranked in the top five metro areas that experienced increased home remodeling projects. Kitchen remodels also the most expensive of home remodeling projects compared to other rooms in a house.

Before starting your next project, here are some essential home remodeling statistics for all homeowners. This is likely because there’s a lot to do in the kitchen, with so many appliances and features to update and upgrade as the years go on. If you take into account all the different types of stores selling DIY products, these sales amounted to around $407.1 billion.

Home Improvement Industry Statistics : Trends, Spending, And Growth

Due to so many people being stuck at home during the pandemic, many people found that they wanted some sort of project to keep their mind off of everything going on out in the world. However, Ace Hardware stores also tend to be a lot smaller than Home Depot stores, and Home Depot is actually one of the preferred home improvement stores for millennials. This is a huge drop from Home Depot and Lowe's, but it still averages in the billions, which can assist the company to remain open and thriving for their customers. Depending on the type of renovation job, some people do not feel completely comfortable doing the job themselves.

Independent businesses must make adjustments and weather growing pains along the way. And because franchisees are able to hit the ground running once they start their home improvement business, they typically enjoy a faster return on investment. Because the storage industry is booming, starting a home improvement business that specializes in customizable services will help set you apart. Choose a specialty or a customer base that will help you stand out from the competitors while appealing to the broadest range of customers’ needs.

Housing Economics

Back in 2020, Menards' had 3% of the market share in the home improvement and remodeling industry. According to statistics, 37% of homeowners prefer to do their renovations themselves rather than hiring a professional. That year, there were over 13 million remodeling projects that were started in the United States, alone, and most of them cost at least $1,000 or more. In 2020, Menards had 3% of the market share in the home improvement and remodeling industry.

In this article, you’ll find some interesting info on home improvement projects. For example, we’ll give you all the details on home improvement in America, some insight into the home improvement industry, and some interesting facts on DIY and home remodeling. Two-fifths of homeowners plan to start an eco-friendly remodel project in 2022. 45% of renovators report that they renovated their kitchen because they finally had time to do it. Connected tech revenue for products throughout the home is expected to reach $5.94 billion in the United States by the end of 2022.

Pandemic-related supply-chain interruptions resulted in higher home remodeling materials prices and additional revenue for suppliers. Historically, the question of whether remodeling will increase the value of the house -- and by how much -- has been one of the top deciding factors for most home remodeling activities. In this post, we focus mostly on home remodeling – bigger projects that add to a home’s value. I tend to gravitate towards business and technology topics, with a deep interest in social media, privacy and crypto. I enjoy testing and reviewing products, so you’ll see a lot of that from me here on EarthWeb. Now you can be more prepared than before reading this information about essential home remodeling statistics.

This is likely due to the kitchen equipment, cabinetry, fittings, appliances, and general utilities involved in kitchen renovations. 21.1% of worker deaths in the private sector happened in construction venues in 2018. Married couples are more likely to make home improvements than single people.

In this section, we‘ll be looking at the United States in particular. We’ll be discussing facts and statistics to do with home remodeling in the country. The data relating to real estate for sale on this web site comes in part from the Internet Data ExchangeTM Program of the Triangle MLS, Inc. of Cary. Home improvement and remodeling is expected to peak during Q3 of 2022 and then decrease entering 2023. Remodeling activity is expected to continue to increase in 2022 but at a slower rate compared to 2021. By the end of 2025, it’s projected that home improvement sales will surpass $620 billion in the US.

Homeowners can recoup about 70% of the cost of a minor kitchen remodel project in added value, studies show. Some of the most popular remodels happen beyond the four walls of our homes. The 2021 AIA survey showed the demand for outdoor spaces increased dramatically since the onset of the pandemic, from 61% to 71%.

A comparison between the median household income in the U.S.A. and the above graph, shows almost parallel positions between highest and lowest spenders Vs. highest and lowest earning states. This therefore indicates that focus could be turned to states where income levels are exponentially increasing, as areas for future focus for marketing for home improvements and construction. While California, Texas, New York and Florida lead the race in terms of highest earnings, states like Oregon and Massachusetts show the most growth and a potential for future earnings.

The top five kitchen styles for 2021 and 2022 are transitional (25%), contemporary (15%), modern (13%), farmhouse (10%), and traditional (9%). The home improvement market is expected to grow by $20.4 billion in the United States alone by the end of 2022. All that staring at the same walls has probably made many realize — it’s been a while since your home had a fresh coat of paint. Access this information in an instantly downloadable Excel spreadsheet. Before purchasing a franchise, it’s important to learn about the franchisor and know your own goals and strengths as a prospective franchisee. Here are some important factors to consider in finding the ideal franchisor-franchisee relationship.

Expenditure has been broken down by state, looking at owner occupied homes’ estimated improvements in 2018. This, therefore, excludes renters as well as the remaining percentage of homeowners per state who will not make renovations. Expenditure on improvements has been broken down into five sectors of total home improvement spending by state, from below $1B, to $1-5B, $5-10B, $10-20B and more than $20B. The greatest number of states fall into the $1-5B spending bracket with a 50.9% share, the below $1B spending bracket represents 23.5% of states, the $5-10B bracket accounts for 17.6% of states. The smallest brackets represent the highest spending with 5.8% states spending $10-20B and only 1 state, California, with a spending exceeding $20B. More specifically, 32% of homeowners who completed home improvement projects painted their home’s interior, 28% remodeled a bathroom, and 27% installed smart devices.