Homeowners spent an average of $10,972 on remodeling in 2023, and that number barely hints at how varied projects have become. In the same year, 55% of homeowners planned to remodel within the next two years, while kitchen upgrades averaged $30,000 and eco-friendly materials rose 25% to $2,500 per project. Let’s dig into the full set of remodeling industry statistics to see what people prioritize, how they pay, and where the spending is headed next.
Key Takeaways
- Average household spent $10,972 on remodeling in 2023
- 55% of homeowners plan to remodel within next 2 years per 2023 survey
- Homeowners aged 35-44 spent most at $15,000 avg. in 2023
- The remodeling industry employs 1.2 million workers in the U.S. as of 2023
- Construction remodel contractors number 650,000 firms nationwide 2023
- Average remodel contractor revenue $1.5 million per firm 2023
- The U.S. home remodeling market reached $454 billion in spending in 2022
- Remodeling expenditures are projected to grow by 1.4% in 2024 to $463 billion
- Home improvement and repair spending hit a record $480 billion in 2023
- Kitchen remodels accounted for 30% of all projects in 2023
- Bathroom renovations made up 22% of remodeling activities 2023
- Roof replacements were the top exterior project at 15% share 2023
- Northeast U.S. leads remodeling spending at 25% share 2023
- Sunbelt states saw 18% growth in remodel activity 2023
- Homeowners over 55 initiate 45% of all remodel projects 2023
In 2023, homeowners spent over $10,972 on remodels as ROI, energy upgrades, and financing options drove demand.
Related reading
01 · Category
Consumer Spending and Trends29 stats
01
Average household spent $10,972on remodeling in 2023
02
55% of homeowners plan to remodel within next 2 years per 2023 survey
03
Homeowners aged 35-44 spent most at $15,000avg. in 2023
04
Energy-efficient upgrades saw 20% spending increase in 2023
05
Kitchen remodel average cost $30,000,up 7% YoY in 2023
06
62% of remodels funded by savings/cash in 2023
07
Home equity loans used in 18% of remodel projects 2023
08
Millennials represent 40% of remodeling spenders in 2023
09
Bathroom remodel avg. spend $12,500in 2023 survey
10
Outdoor living spaces spending up 15% to avg. $8,000 in 2023
11
48% of homeowners increased remodel budgets post-inflation 2023
12
Credit card financing used by 12% for small remodels 2023
13
Gen Z homeowners spent avg. $9,000on first remodel 2023
14
Home office remodels avg. $5,200spend in 2023
15
35% prioritize value-adding remodels for ROI in 2023
16
Average basement remodel cost $40,000nationwide 2023
17
Eco-friendly materials spending up 25% to $2,500 avg. project
18
70% of remodel decisions influenced by social media in 2023
19
Roof replacement avg. cost $12,000,most common exterior 2023
20
Window upgrades avg. $550per window, $10k total 2023
21
52% of spending on maintenance vs. optional upgrades 2023
22
Luxury remodel budgets avg. $100k+ for 15% of projects 2023
23
Pandemic-driven remodels cost avg. $25k extra per home 2022-23
24
Flooring remodel avg. spend $4,000per room in 2023
25
Smart home tech integration avg. $3,500added to projects 2023
26
65% expect to spend more on remodels in 2024 vs. 2023
27
Deck addition avg. cost $15,000,popular in suburbs 2023
28
28% used personal loans for remodel financing 2023
29
Paint jobs avg. $3,500interior whole house 2023
Interpretation
Consumer Spending and Trends Interpretation
Despite inflation and social media's relentless parade of perfect kitchens, the data reveals homeowners are still pragmatically opening their wallets—and increasingly their home equity—to fund not just dream renovations but essential upgrades, with millennials leading the charge to make their nests smarter, greener, and finally Instagram-ready.
02 · Category
Industry Employment and Contractors27 stats
01
The remodeling industry employs 1.2 million workers in the U.S. as of 2023
02
Construction remodel contractors number 650,000 firms nationwide 2023
03
Average remodel contractor revenue $1.5 million per firm 2023
04
Labor shortage affects 85% of remodel contractors 2023
05
Skilled tradespeople wages up 6% to avg. $28/hour in remodeling 2023
06
40% of contractors report hiring difficulties for carpenters 2023
07
Women in remodeling trades reached 12% of workforce 2023
08
Project managers avg. salary $95,000in remodeling firms 2023
09
70% of small contractors (under 10 employees) dominate industry 2023
10
Unionized remodel workers 15% of total labor force 2023
11
Turnover rate 25% among remodel field workers 2023
12
Certification holders (NARI) number 5,000 pros 2023
13
Avg. remodel crew size 4-6 workers per project 2023
14
Insurance costs up 20% for contractors avg. $15k/year 2023
15
55% contractors use subcontractors for specialties 2023
16
Plumbers in remodels avg. $35/hour, highest paid trade 2023
17
Electricians shortage 30k workers needed 2023 remodel boom
18
Contractor profit margins avg. 10.2% in 2023
19
Tech adoption: 60% contractors use software for bids 2023
20
Apprenticeship programs enrolled 50k remodel trainees 2023
21
Material costs squeeze 35% of contractor margins 2023
22
Safety incidents down 5% due to training in remodel sites 2023
23
Franchise remodel companies grew 12% to 2,500 outlets 2023
24
Avg. contractor age 52, aging workforce issue 2023
25
Marketing spend avg. $20k/year per firm digital shift 2023
26
75% contractors face supply chain delays 2023
27
Solar installers in remodels up 40% employment 2023
Interpretation
Industry Employment and Contractors Interpretation
The remodeling industry is a bustling ecosystem of 650,000 firms, mostly small crews battling labor shortages and thin margins, where rising wages and tech adoption race against an aging workforce and supply chain woes to meet America's endless desire to upgrade its homes.
03 · Category
Market Size and Growth30 stats
01
The U.S. home remodeling market reached $454 billion in spending in 2022
02
Remodeling expenditures are projected to grow by 1.4% in 2024 to $463 billion
03
Home improvement and repair spending hit a record $480 billion in 2023
04
The global home remodeling market size was valued at $1.2 trillion in 2023
05
U.S. remodeling market CAGR from 2023-2030 is expected at 4.2%
06
Remodeling spending grew 15% year-over-year in Q4 2022 to $121 billion
07
Post-pandemic remodeling boom added $100 billion to annual spending
08
U.S. residential remodeling market share held 78% of total in 2023
09
Remodeling industry output increased 2.5% in 2023 despite slowdowns
10
Forecasted remodeling spending for 2025 is $480 billion, up 3.7%
11
The home remodeling sector contributed 2.1% to U.S. GDP in 2022
12
Annual remodeling spending per household averaged $12,000in 2023
13
Market value of kitchen remodeling segment was $150 billion in 2023
14
Bathroom remodel market projected to reach $120 billion by 2028
15
Aging-in-place remodels drove 10% market growth in 2023
16
Replacement remodeling accounted for 68% of total spending in 2022
17
U.S. remodeling market expanded 5.8% from 2021-2022
18
Global smart home remodel integration market at $50 billion in 2023
19
Remodeling spending peaked at $509 billion forecast for 2024 peak
20
Industry revenue reached $500 billion in 2023 per IBISWorld
21
Remodeling market contraction of -0.5% expected in 2024
22
Historical peak remodeling spending was $451 billion in 2022
23
Sustainable remodeling segment grew 12% to $80 billion in 2023
24
Luxury home remodel market valued at $90 billion in U.S. 2023
25
Remodeling e-commerce sales hit $40 billion in 2023
26
Multi-family remodeling spending up 8% to $60 billion in 2023
27
DIY remodeling market share 25% of total $454B in 2022
28
Professional contractor spending dominated 75% at $340B in 2022
29
Remodeling inflation-adjusted growth 1.2% in 2023
30
Future projection: $550 billion by 2027 at 4% CAGR
Interpretation
Market Size and Growth Interpretation
Despite talk of slowdowns, the American home remodeling industry remains a half-trillion-dollar testament to our collective obsession with better bathrooms, smarter kitchens, and the defiant, wallet-emptying belief that happiness is just a renovation away.
More related reading
04 · Category
Popular Remodeling Projects26 stats
01
Kitchen remodels accounted for 30% of all projects in 2023
02
Bathroom renovations made up 22% of remodeling activities 2023
03
Roof replacements were the top exterior project at 15% share 2023
04
Whole-house remodels increased 10% in popularity post-2022
05
Aging-in-place modifications up 25% for accessibility 2023
06
Outdoor kitchens surged 40% in new builds/remodels 2023
07
Home gym installations grew 35% since 2020 peak 2023
08
Basement finishes represented 12% of interior projects 2023
09
Window/door replacements 18% of spending share 2023
10
Sustainable solar panel installs up 50% in remodels 2023
11
ADU (accessory dwelling units) permits up 30% in 2023
12
Laundry room remodels gained 15% traction 2023
13
Garage conversions to living space 8% of projects 2023
14
HVAC upgrades prioritized in 20% of energy-focused remodels 2023
15
Deck/patio additions 14% share of outdoor projects 2023
16
Closet organization systems up 22% in master suites 2023
17
Pool installations/remodels increased 12% in warm climates 2023
18
Fireplace modernizations popular in 10% of living room remodels 2023
19
Hardwood flooring installs dominated 60% of floor projects 2023
20
Cabinet refacing over full replacement in 40% kitchens 2023
21
Smart lighting retrofits in 25% of electrical upgrades 2023
22
Landscape lighting projects up 18% with remodels 2023
23
Mudroom additions surged 28% in family homes 2023
24
Wine cellar remodels niche but up 15% luxury 2023
25
Attic conversions to bedrooms 9% of expansion projects 2023
26
Siding replacements key in 16% exterior refreshes 2023
Interpretation
Popular Remodeling Projects Interpretation
While homeowners in 2023 clearly decided their kingdom deserved a chef's kitchen and a spa-worthy bathroom first, they also pragmatically crowned a sturdy roof, increasingly looked inward for gyms and granny flats, embraced the great outdoors with gusto, and generally resolved that if they were going to age in place, that place might as well be brilliantly lit, perfectly organized, and sustainably powered.
05 · Category
Regional and Demographic Insights25 stats
01
Northeast U.S. leads remodeling spending at 25% share 2023
02
Sunbelt states saw 18% growth in remodel activity 2023
03
Homeowners over 55 initiate 45% of all remodel projects 2023
04
Suburban areas account for 60% of remodeling volume 2023
05
California remodel market $60 billion largest state 2023
06
Baby boomers spend 2x more on aging-in-place than millennials 2023
07
Midwest replacement remodels 70% of activity due to weather 2023
08
High-income households ($150k+) do 35% of luxury remodels 2023
09
Florida ADU remodels up 50% post-hurricane 2023
10
Urban condo remodels grew 12% in NYC/Chicago 2023
11
Hispanic homeowners remodel rate 28% higher than average 2023
12
Texas market second largest at $45B remodel spend 2023
13
Empty nesters (55-64) 30% more likely to remodel kitchens 2023
14
Pacific Northwest eco-remodels 40% above national avg. 2023
15
Lower-income (<$50k) focus 80% on maintenance remodels 2023
16
Southeast outdoor projects 25% of total regional remodels 2023
17
Married couples with kids under 18 remodel 50% more often 2023
18
Mountain West states growth 22% in vacation home remodels 2023
19
Asian American homeowners invest 15% more in tech remodels 2023
20
New England historic remodels 20% of projects preservation 2023
21
Gen X (45-54) highest per capita remodel spenders 2023
22
Rural areas saw 10% decline in remodel starts 2023
23
Single women homeowners remodel rate up 18% 2023
24
Southwest drought drives 30% water-efficient remodels 2023
25
College-educated homeowners 2x more likely to remodel 2023
Interpretation
Regional and Demographic Insights Interpretation
While the Northeast flexes its established wealth and California remains the remodeling king, the real story is a national tug-of-war between Sunbelt growth chasing sunshine, Baby Boomers fortifying their castles, and younger generations in cities and suburbs navigating affordability, weather, and the urgent calls of both climate and family.
Reference
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APA
Catherine Wu. (2026, February 13). Home Remodeling Industry Statistics. Gitnux. https://gitnux.org/home-remodeling-industry-statistics
MLA
Catherine Wu. "Home Remodeling Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/home-remodeling-industry-statistics.
Chicago
Catherine Wu. 2026. "Home Remodeling Industry Statistics." Gitnux. https://gitnux.org/home-remodeling-industry-statistics.
Sources & references
85 datasets cited across this report · attribution is report-level