It’s no secret the home U.S. home improvement industry thrived after the pandemic hit. As a result of the pandemic, there were some pretty profound changes in home remodeling statistics. Last year U.S. homeowners spent an estimated 281 billion dollars on home renovation projects. Due to the pandemic, American homeowners suddenly spent much more time at home. Because of this, home repair and diy home improvement projects rapidly increased in popularity. The average supply cost increased due to supply chain shortages, but these prices didn’t seem to slow anyone down. Let’s look at the home improvement industry statistics.
Here are 67 home remodeling statistics that reveal the latest home improvement industry trends in the United States for 2022.
Critical Home Remodeling Statistics
Here are general home remodeling statistics:
1). Home improvement sales in the United States for 2021 were 538 billion dollars. (Statista)
2). In the coming year, home improvement sales will continue to increase to an estimated 558 billion dollars in 2022 and 577 billion dollars in 2023. (Statista)
3). In 2021, DIY lumberyard sales in the United States amounted to just under 138 billion U.S. dollars, an increase compared to the previous year. (Statista)
4). The leading home improvement chain is Home Depot, with sales exceeding 130 billion dollars in 2020. (Statista)
5). The number one reason U.S. homeowners completed a home improvement project during the 2020 pandemic was finally have the time for it. (Statista)
6). As of June 2021, 69% of homeowners had started a DIY project during the pandemic. (Statista)
7). 67% of homeowners had made at least one improvement to their home during the coronavirus pandemic in the United States in 2020. (Statista)
8). In April 2022, the median purchase price of a new home was approximately $451,000, an increase of almost $73,000 from the same month in 2021. (Statista)
9). More than half the homes in the U.S. were built before 1980 and 38% before 1970. (National Association of Home Builders)
10). 56% of homeowners plan to remodel their homes in the coming year. (Houzz)
Home Remodeling Statistics by Type of Project
Kitchen and bath renovations continue to top the list of most popular home remodeling projects; however, there is more to remodeling your home than just a kitchen or bath. Let’s take a look at other popular projects:
11). 55% of homeowners started or continued decorating in 2020 compared to 53% who remodeled their homes and 47% who repaired their homes. (Statista)
12). Based on furniture sales, bedrooms and living room were the most-renovated rooms in 2020 since furniture sales for both these rooms increased by more than 35% compared to 2019. (Statista)
13). Interior painting was a popular home improvement, where 35% percent of consumers painted their indoor walls in 2020. (Statista)
14). Garden landscaping was the most common home improvement project during the coronavirus pandemic in the United States in 2020. (Statista)
15). Installing security cameras was the least common project in 2020. (Statista)
16). Installing high-speed internet was the most common made or planned interior home improvement during the coronavirus pandemic in the United States in 2020. (Statista)
17). Seventy-six percent of homeowners had made at least one improvement to their home during the coronavirus pandemic in the United States in 2020. (Statista)
Home Improvement Spending
Let’s look at the different generations of homeowners and how much they spent on these popular home improvement projects, and we’ll look at how they paid for these projects.
Here are home remodeling statistics related to consumer spending:
18). Remodeling expenditure in the United States amounted to 353 billion U.S. dollars in the first quarter of 2021. (Statista)
19). Homeowners spent an average of $15,000 on home renovations in 2020, up from $13,000 in 2019. (Statista)
20). Baby boomers account for the highest share of the renovation market at 52% and also spent on average, the most on projects at $15,000. (Houzz)
21). Gen X spent on home remodeling projects on average $14,000 in 2021. (Houzz)
22). Seniors spent an average of $12,000 on home projects in 2021. (Houzz)
23). Millennials spent the least on home projects in 2021, coming in at $10,000. (Houzz)
24). 83% of homeowners paid for their renovations with cash in 2020. (Houzz) Homeowners having extra cash makes sense if you think about the pandemic; people had additional disposable income that they may have set aside for a vacation, concerts, dining out, and other social activities, which they suddenly could no longer do.
Home Remodeling Statistics: Kitchen Trends
Home improvement research tells us kitchen improvements continue to be popular areas of the home to update, which is no surprise since these improvements generally provide some of the best return on investment.
Let’s look at home remodeling statistics on kitchens:
25). The average kitchen remodeling project cost upwards of $40,000 in 2020, a 14% increase from the previous year. (Houzz)
Kitchen Styles
26). The most popular kitchen style is transitional, with 25% of homeowners remodeling their kitchen to this style. (Statista)
27). A Farmhouse kitchen style was the second lowest popular style, and only 10% of homeowners used or planned to use this kitchen style in their remodel. (Statista)
28). The least popular kitchen style is traditional; only 9% of homeowners used or planned to use this style when updating their kitchen. (Statista)
Kitchen Upgrades
29). The number one most common kitchen update was countertops, where 91% of homeowners updated their countertops in 2021/2022. (Statista)
30). 42% of homeowners planned to use quartz countertops. (Statista)
31). The second most common kitchen update was the backsplash, where 86% of homeowners updated their backsplash in 2021/2022. (Statista)
Kitchen Appliances
32). 50% of homeowners updated all of their kitchen appliances. (Statista)
33). 33% of homeowners updated some of their kitchen appliances. (Statista)
34). 73% of homeowners updated their refrigerator/freezer. (Statista)
35). 71% of homeowners updated their dishwasher. (Statista)
36). The least popular kitchen appliance upgrade is a warming drawer since only 6% of homeowners updated this kitchen appliance. (Statista)
High-Tech Kitchen Appliances
37). Wireless controls were the number one high-tech appliance upgrade where 26% of homeowners added or planned to add wireless smartphone or tablet controls. (Statista)
38). The second most desired high-tech appliance upgrade was a color touchscreen display where 16% of homeowners used or planned to use this in their kitchen update. (Statista)
39). 4% added or planned to add voice-controlled features. (Statista)
40). Built-in speakers were the least favorite high-tech upgrade; only 1% of homeowners added or planned to add this to their kitchen. (Statista)
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Home Remodeling Statistics: Bathroom Trends
Bathrooms are the other most popular area of the home to update, which is no surprise since these improvements generally provide some of the best return on investment.
Let’s look at home remodeling statistics on bathrooms:
41). In 2021, 33% of homeowners who renovated their primary bathroom did so because they could no longer stand the old bathroom. (Statista)
42). Homeowners spent an average of $18,000 remodeling their main bathroom. (Houzz)
43). 49% of homeowners hired a general contractor to remodel their master bathroom in 2021. (Statista)
44). 14% of homeowners hired a bathroom designer for their master bathroom renovation in 2021. (Statista)
Bathroom Styles
45). 20% of homeowners changed to a modern style after renovations in 2021. (Statista)
46). Transitional was a close second most popular primary bathroom style, with 19% of homeowners remodeling their primary bathroom to this style in 2021. (Statista)
47). A Farmhouse style master bathroom was used by 4% of homeowners who remodeled their master bathroom in 2021. (Statista)
Bathroom Upgrades
48). Homeowners increased their primary bathroom shower size in 50% of remodels. (Statista)
49). Faucets was the number on bathroom update where 88% of master bathroom remodels included changing the faucet in 2021. (Statista)
50). 76% of homeowners updated their master bathroom vanity cabinets in 2021. (Statista)
Home Remodeling Statistics: Home Office Trends
Homeowners took an interest in remodeling or creating a home office to accommodate working from home.
Here are home remodeling statistics related to the home office:
51). Millennials were the most likely generation to purchase home office items in 2021. (Statista)
Home Office Chairs
52). Office chairs were 75% more popular in 2020 than before the pandemic. (Statista)
53). 41% of Millennials planned to buy an office chair in 2021 compared to only 24% of Baby Boomers. (Statista)
54). Desk chairs were the number one intended home office purchase for 2021. (Statista)
Home Office Desks
55). 27% of homeowners prioritized a home office desk in 2020. (Statista)
56). Baby boomers would most likely pay between $200 and $499 for their home office desk. (Statista)
57). 8% of Millennials preferred the most expensive office desk category versus less than 4% of Baby Boomers and Gen X. (Statista)
New Home Construction
Not all homeowners are interested in remodeling an older home, so if this is the case, then new home construction is the next best option.
Let’s look at the new home construction statistics:
58). 32% of new single-family homes in 2021 were 1,800 to 2,399 square feet, making this the most commonly sized newly built home. (U.S. Census Bureau)
59). 41% of new single-family homes sold in 2021 in the U.S. were $150 and over per square foot, a significant increase from 2020, where only 21% of homes sold at this price per square foot. In 2020, the most common price per square foot was $100 to $124.99, and 32% of homes sold at this amount. (U.S. Census Bureau)
60). Buyers can expect to pay high prices per square foot for new construction homes in every region except the South, where for the last five years, the most common price per square foot has been steady at $100 to $124.99. (Us Census Bureau)
61). 33% of home buyers looking to buy a home in the next 12 months prefer a newly built one. (Statista)
62). In 2021 the generation most interested in purchasing a new home versus an existing one was Millennials at 38%. (Statista)
Home Remodeling Statistics: Smart Homes
63). Smart home features continue to rise in popularity. Let’s look at what smart features renovating homeowners are adding to their homes:
64). The most popular smart home device is a TV, where 76% of homeowners owned a smart TV in 2022. (Statista)
65). In 2022, 32% of people owned a smart electricity and lighting device controlled by their phone or internet connection. (Statista)
66). Wireless controls were the number one high-tech appliance upgrade where 26% of homeowners added or planned to add wireless smartphone or tablet controls. (Statista)
67). The most common outdoor smart features renovating homeowners added in 2020 were security cameras (19%), light fixtures (7%), and sound systems (3%). (Houzz)
Home Remodeling Statistics: Trends and Analysis
Home renovation statistics reveal that the industry will continue to rise in the coming years. The pandemic had a profound impact on the home improvement market and housing market. The pandemic initially struck the construction industry by causing material shortages, which led to a much higher price for materials. At the same time, DIY home improvements became increasingly popular, mainly because people finally have the time to work on their homes. More than half of homeowners completed at least one home improvement in 2020. Common home improvement projects during this time included garden landscaping and painting interior walls.
2020 was the start of record-high home prices, significantly changing home sales in North America. With low housing stock and a higher home value, the real estate market saw a massive change, leading to homeowners updating their older homes. Despite record high prices with low-interest rates, residential construction continued to be in demand. Also, despite all the increases, the South remained the most affordable place for new construction, holding steady at $100 to $124.99 per square foot.
Home remodeling and maintenance are not going anywhere because most homes in the US are over 50 years old. Older homes mean the need to upgrade. I can speak from experience that older homes need significant improvements and remodeling. I know they say styles come back around, but if your 1960’s home is anything like mine was, the amount of orange was enough to make me puke. We’re talking orange paneling, orange cabinets, and orange carpet. Also, the layout of older homes no longer serves the American family. Homeowners want more open spaces and fewer walls diving each room. Older homes need cosmetic remodeling, and the systems in an older home require maintenance and repair.
Kitchens and baths remain the most popular home renovations, and the amount homeowners spend on these projects has also risen. Creating a space to accommodate working from home remains a popular project, and renovating outdoor spaces is also growing.
Baby boomers and Gen X hold the top spots for spending the most on home remodeling, while Seniors and Millennials spent the least, and cash was the number one form of funding homeowners used to pay for their home remodeling projects.
Home Remodeling Statistics: Predictions
You asked, and I delivered the latest home remodeling statistics. It will be interesting to see what happens in the coming years as we shift back to “normal” after the pandemic, but is what is even normal anymore? They predict a recession, which may negatively impact the home remodeling industry. Or, maybe, the home improvement industry will stay strong, and the new home construction industry will take the hit.
Despite the economy, I predict home remodeling will continue to rise in popularity due to the high home costs and higher interest rates. Based on the economy, I expect a slight dip in the amount of money homeowners spend on home remodeling in the coming year or two.
I’m happy to see that the trend in kitchen countertop selection is that most love quartz. I don’t know about you, but I feel granite is so overrated!
It will be interesting to see what happens with bathroom remodeling projects with the state of the economy. I predict consumers will significantly decrease the amount spent per project, or they may hold off together.
I expect we will continue seeing home office updates remain popular since this is a much less costly investment and as more companies and people identify working from home as a benefit.
Smart home updates have been slow to take off in the home remodeling world, but I think this will continue to rise and increase in popularity steadily.
What are your predictions?
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