40+ Home Repair Statistics to Know for 2024

Home repair projects are common with homeowners who want to improve their living spaces. But just how big is the industry? What do people remodel? And how do people feel about doing those renovations?

We’ll answer all those questions and more with this list of over 40 home services statistics!

Here’s what we’ll cover:

• General home improvement statistics
• Statistics on what people renovate
• Statistics on homeowners renovating

Keep reading to learn more!

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General home improvement statistics

First on this page of home repair industry statistics, let’s look at some general stats about the home repair industry:

1. Home Depot is the leading home improvement retailer in the U.S.
2. Home improvement sales are projected to reach $625 billion by 2025.
3. Over $400 billion is how much the home remodeling industry is worth.
4. Home improvement project spending increased from $328 billion in 2019 to $472 billion in 2022.
5. $18,000 is the median amount spent on remodeling a home.
6. 147% is the recovery rate for hardwood floor refinishing projects.
7. 118% is the recovery rate for installing new wood flooring.

8. 100% is the recovery rate for insulation upgrades.
9. 69% is the average return on investment (ROI) of remodeling projects.
10. 59% of homes were built before 1980.
11. 23% is how much higher the costs are for an exterior project compared to an interior project.
12. 22% of projects weren’t completed due to high materials costs.

INSIGHT: What these home improvement statistics show

By looking at these home improvement statistics, you can gain a few insights about the industry:

1. Some repairs add more value than others: A common problem homeowners face is whether doing certain renovations is worth the time and investment. Most home improvement projects have a good ROI (69%), with some projects adding more value than others (repairing floors, for example).
2. Costs influence repairs: With the median cost of home repairs being around $18,000, some people may not complete their repairs because of the costs. It may also lead people to do the labor themselves or use cheaper materials to make the cost more affordable.

Home repair statistics: What people renovate

For our next set of stats on home repair, let’s look at what people commonly renovate in their houses:

13. 50% of remodeling projects focused on kitchens and bathrooms in 2022.
14. 32% of households remodel by doing interior painting.
15. 27% of households remodel a bathroom.

16. 27% of households remodel by installing smart home devices.
17. 26% of households remodel by installing new flooring
18. 24% of households remodel by improving landscaping.
19. 24% of households remodel by doing exterior painting.
20. 23% of households remodel a kitchen.
21. 23% of households remodel by installing new fencing.
22. 19% of households remodel by installing a new roof.
23. 19% of households remodel by installing new cabinets.

INSIGHT: What these home improvement statistics show

So, what can we learn from these home services statistics? Here are a few key insights:

1. Homeowners tend to focus on the same rooms: Kitchen and bathrooms top the list for projects, whether it’s a complete renovation or just making some general improvements. When you consider that even a minor kitchen remodel can have an 86% ROI, it’s no surprise.
2. Technology upgrades are a trend: With more smart devices being created each year, homeowners opt to take advantage of the technology to improve their home lives.

Home improvement statistics: Homeowners and renovating

24. New homeowners invest up to $30,000 on home renovation projects.

25. 93% of homeowners felt they had a better quality of life after completing renovations.
26. 91% of homeowners say their home needs minor or major renovations.
27. 86% of residents felt motivated to renovate other parts of their homes after completing one remodeling project.
28. 84% of homeowners want to spend more time in their newly renovated homes.
29. 80% of homeowners exceeded their home improvement budget by at least $500.
30. 69% of homeowners feel an increased enjoyment of their homes after renovating.
31. 61% of homeowners who have lived in their house for 6+ years will choose to renovate instead of moving.
32. 60% of homeowners didn’t use a contractor for remodeling projects in 2022.
33. Homeowners who have lived in their house for 6+ years account for 60% of remodeling activity.
34. 55% of homeowners did remodeling projects in 2021.
35. Homeowners who have lived in their house for 6+ years spend 50% less on remodeling than those who have been in their home less than a year.
36. Only 40% of partners agree on home improvement plans.
37. 39% of homeowners feel satisfied seeing their completed project.
38. 30% of homeowners were motivated to do home repairs because of worn-out surfaces and finishes.
39. 20% of homeowners did renovation projects to improve livability.
40. 20% of homeowners don’t spend any money on maintaining their homes.
41. 17% of American homeowners spend less than $500 improving their homes.
42. 16% of homeowners did home improvement projects because they wanted a change.

INSIGHT: What these home improvement statistics show

So, what can we learn from these stats on home repair? Here are a few key takeaways:

1. New homeowners tend to spend more: A common trend with home renovations is that new homeowners will spend more than people who have lived in their houses for a few years. New homeowners may try to complete multiple projects at once before moving in, hence the increased cost, while older homeowners do one project at a time.
2. Renovation makes homeowners happier: While home repairs come at a cost, they have benefits beyond the monetary value they add to a house. Many homeowners feel their life is improved, and they enjoy being at home after doing renovations.

Want to see more helpful information like these home repair statistics?

Looking at these home services statistics is critical for helping you understand what’s trending in the home repair industry and people’s perceptions of remodeling.

Not only do you need to stay on top of trends in the home repair industry, but you also need to keep tabs on marketing trends to ensure you’re marketing your home repair company effectively.

That’s where WebFX can help.

With over 25 years of experience in the digital marketing space, we know how to craft marketing strategies for home repair companies that drive results. We’ve worked with companies in dozens of industries, including home repair, to drive over $3 billion in revenue for our clients.

To learn more, contact us online or call us today at 888-601-5359 to speak with a strategist about our digital marketing services!