GITNUXREPORT 2026

Home Renovation Industry Statistics

The global home renovation market is thriving, valued at over one trillion dollars and growing steadily worldwide.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

54% of U.S. homeowners undertook home improvement projects in 2023, average spend $15,000.

Statistic 2

Millennials (ages 28-43) spent average $22,500 on renovations in 2023, highest among generations.

Statistic 3

68% of U.S. homeowners plan to renovate within next 2 years, budgeting $10,000-$50,000.

Statistic 4

Average U.S. kitchen remodel cost $30,000 in 2024, up 5% from 2023.

Statistic 5

42% of renovation spending in 2023 was on discretionary upgrades vs. maintenance.

Statistic 6

Gen Z homeowners average renovation spend $12,000 annually, focusing on personalization.

Statistic 7

75% of U.S. homeowners financed renovations with savings or cash in 2023.

Statistic 8

Average bathroom remodel cost in U.S. $25,000 in 2024, with 60% ROI.

Statistic 9

31% of homeowners increased renovation budgets due to remote work needs in 2023.

Statistic 10

Boomers (55+) average $18,000 spend on home improvements yearly.

Statistic 11

49% of U.S. renters also spent on home improvements averaging $5,000 in 2023.

Statistic 12

Energy-efficient upgrades saw 25% spending increase to $60 billion in U.S. 2023.

Statistic 13

Average U.S. homeowner spent 2.5% of home value on renovations in 2023.

Statistic 14

62% of high-income households ($100k+) spent over $20,000 on 2023 projects.

Statistic 15

Outdoor living space investments averaged $15,000 per project in 2023.

Statistic 16

38% of renovations delayed due to inflation, average budget overrun 15%.

Statistic 17

Smart home tech integration cost average $5,500 per home in 2023 spends.

Statistic 18

Women-led purchasing decisions in 55% of U.S. renovation projects, avg spend higher.

Statistic 19

Multi-generational households spent 30% more on accessibility mods $25,000 avg.

Statistic 20

47% of urban homeowners spent on cosmetic updates averaging $8,000 in 2023.

Statistic 21

Home office remodels averaged $12,500 spend post-pandemic in 2023.

Statistic 22

66% of renovators used credit cards for small projects under $5,000.

Statistic 23

Luxury renovation spends topped $100,000 for 12% of affluent households.

Statistic 24

Sustainable materials premium added 20% to average project costs $6,000 extra.

Statistic 25

52% of Baby Boomers refinanced for renovations, average loan $50,000.

Statistic 26

First-time buyers spent 18% more on updates $16,000 avg in first year.

Statistic 27

Pandemic backlogs led to 22% higher spends on deferred maintenance $10,000 avg.

Statistic 28

U.S. remodeling industry employs 3.6 million workers as of 2023.

Statistic 29

650,000 professional remodeling firms operate in U.S., 90% small businesses under 5 employees.

Statistic 30

Remodeler revenue averaged $1.2 million per firm in 2023.

Statistic 31

Construction labor shortage: 382,000 unfilled jobs in residential remodeling 2023.

Statistic 32

Top 200 remodelers generated $15 billion combined revenue 2023.

Statistic 33

Carpenter wages averaged $28/hour in remodeling sector 2023.

Statistic 34

78% of remodelers report hiring difficulties for skilled trades.

Statistic 35

Home Depot and Lowe's capture 25% of $925B retail market.

Statistic 36

Supplier inventories up 15% to meet remodeling demand 2023.

Statistic 37

42% of remodelers use software for project management.

Statistic 38

Insurance costs rose 20% for remodelers in 2023.

Statistic 39

Franchise remodelers grew 12% to 1,200 locations.

Statistic 40

Electrician demand up 25% in reno projects.

Statistic 41

Plumber average hourly rate $45 in remodeling.

Statistic 42

55% of firms family-owned, multi-generational.

Statistic 43

Material costs 40% of project budgets for contractors.

Statistic 44

Marketing spend avg 5% of revenue for remodelers.

Statistic 45

Women-owned remodeling firms up 18% to 15% market share.

Statistic 46

Subcontractor usage 85% of projects over $50k.

Statistic 47

Profit margins averaged 12.5% for remodelers 2023.

Statistic 48

Painter/Decker wages $22/hour avg.

Statistic 49

Tech adoption: 60% use CRM for leads.

Statistic 50

Licensing compliance issues in 22% small firms.

Statistic 51

Largest remodeler: Case Design/Remodeling $250M revenue.

Statistic 52

Apprenticeship programs trained 50,000 new workers 2023.

Statistic 53

Vendor partnerships key for 70% supply chain stability.

Statistic 54

HVAC contractor firms 120,000 nationwide.

Statistic 55

Bid win rate avg 35% for competitive projects.

Statistic 56

Safety incidents down 10% with OSHA training.

Statistic 57

The U.S. home improvement and repairs market reached $474 billion in spending in 2022, marking a 4% increase from 2021.

Statistic 58

Global home renovation market size was valued at $1.05 trillion in 2023 and is expected to grow at a CAGR of 5.2% from 2024 to 2032.

Statistic 59

U.S. residential remodeling expenditures totaled $455 billion in 2023, down 2.4% from 2022 peak.

Statistic 60

The European home renovation market is projected to reach €1.2 trillion by 2030, driven by energy efficiency mandates.

Statistic 61

In 2023, the Asia-Pacific home renovation sector grew by 7.1% YoY, reaching $450 billion.

Statistic 62

U.S. home improvement retail sales hit $925 billion in 2023, up 1.5% from prior year.

Statistic 63

Canadian home renovation spending was CAD 72.5 billion in 2023, with 6% growth forecast for 2024.

Statistic 64

UK home improvement market valued at £38 billion in 2023, expected to grow 4.8% annually to 2028.

Statistic 65

Australian residential renovation market size was AUD 45 billion in FY2023, up 3.2%.

Statistic 66

In 2024, U.S. remodeling market projected at $480 billion, recovering from 2023 slowdown.

Statistic 67

Global smart home renovation segment within market expected to grow from $25B in 2023 to $85B by 2030 at 19% CAGR.

Statistic 68

Brazil home renovation market expanded 8.5% in 2023 to BRL 120 billion.

Statistic 69

Indian home renovation industry valued at INR 2.5 lakh crore in FY2023, CAGR 12% projected to 2028.

Statistic 70

French home renovation turnover reached €45 billion in 2023, boosted by green incentives.

Statistic 71

U.S. DIY home improvement market segment was $109 billion in 2023.

Statistic 72

Mexico's home remodeling market grew 5.3% YoY to $35 billion USD equivalent in 2023.

Statistic 73

South Korea home renovation spending hit KRW 50 trillion in 2023, up 4.7%.

Statistic 74

Germany's renovation market at €92 billion in 2023, with 3% growth expected in 2024.

Statistic 75

U.S. professional remodeling services accounted for 78% of $474B market in 2022.

Statistic 76

China home decoration and renovation market size $650 billion in 2023, CAGR 6.5% to 2028.

Statistic 77

Italy's home renovation sector generated €40 billion in 2023, driven by superbonus incentives.

Statistic 78

U.S. market forecast: remodeling spending to hit $524 billion by 2026.

Statistic 79

Spain home improvement market €25 billion in 2023, growth 4.1%.

Statistic 80

Turkey renovation market reached TRY 300 billion in 2023, up 15% due to inflation.

Statistic 81

Netherlands home renovation spending €18 billion in 2023, projected 5% CAGR to 2030.

Statistic 82

U.S. home improvement e-commerce sales $120 billion in 2023, 13% of total.

Statistic 83

Sweden renovation market SEK 150 billion in 2023, green renovations 40% share.

Statistic 84

U.S. aging-in-place renovations segment $40 billion in 2023.

Statistic 85

Poland home renovation industry PLN 100 billion in 2023, 7% growth.

Statistic 86

U.S. 2024 remodeling market outlook: $485 billion with 1.1% growth.

Statistic 87

U.S. kitchen remodels most popular project, 35% of all renovations in 2023.

Statistic 88

Bathroom renovations accounted for 28% of projects, average duration 4 weeks.

Statistic 89

45% of homeowners added home offices, with built-ins in 60% of cases.

Statistic 90

Curb appeal projects like siding/landscaping in 32% of 2023 renovations.

Statistic 91

Aging-in-place mods (ramps, widened doors) up 40% since 2020.

Statistic 92

Outdoor kitchens installed in 22% of backyard renos, cost avg $40k.

Statistic 93

Basement finishing projects surged 25%, adding 500 sq ft avg.

Statistic 94

Smart home integrations in 48% of electrical upgrades.

Statistic 95

Roof replacements top maintenance project at 18% of spends.

Statistic 96

Deck/patio additions in 29% of homes, using composite materials 55%.

Statistic 97

HVAC system upgrades for efficiency in 35% of mechanical renos.

Statistic 98

Window replacements doubled efficiency claims in 42% projects.

Statistic 99

Closet organization systems in 26% of interior renos.

Statistic 100

Laundry room upgrades popular in 19%, adding washers/dryers.

Statistic 101

Garage conversions to ADUs in 15% of urban projects.

Statistic 102

Flooring updates (LVP) in 51% of projects, replacing carpet.

Statistic 103

Painting interior/exterior in 67% as starter projects.

Statistic 104

Solar panel installations up 30% in rooftop renos.

Statistic 105

Fireplace upgrades to electric/gas in 12% living room renos.

Statistic 106

Mudroom additions in 24% entryway projects for families.

Statistic 107

Crown molding/millwork in 33% cosmetic interior updates.

Statistic 108

Pool installations rare but up 18% in luxury homes.

Statistic 109

Attic conversions to bedrooms in 11% space expansion projects.

Statistic 110

Hardscape landscaping (patios) in 37% yard renos.

Statistic 111

Cabinet refacing over full replacement in 55% kitchen jobs.

Statistic 112

Soundproofing added to 16% of home theater renos.

Statistic 113

EV charger installations in 28% garage upgrades.

Statistic 114

Wallpaper returns in 21% accent wall projects.

Statistic 115

28% of U.S. homeowners in suburbs renovated in 2023 vs. 22% urban.

Statistic 116

Northeast U.S. avg reno spend $20,500 highest regionally.

Statistic 117

California home reno market $85B, 18% national share.

Statistic 118

Florida leads in pool/ outdoor renos 35% of projects.

Statistic 119

Rural areas saw 15% reno growth vs. 8% urban 2023.

Statistic 120

Texas avg kitchen reno $35k due to larger homes.

Statistic 121

Midwest 40% focus on energy efficiency upgrades.

Statistic 122

New York City reno permits up 12%, avg cost $50k.

Statistic 123

Sunbelt states 55% of national ADU additions.

Statistic 124

Households with children under 18 renovate 2x more often.

Statistic 125

Hispanic homeowners reno spend up 28% YoY.

Statistic 126

Age 35-54 demo highest reno activity 62% participation.

Statistic 127

Pacific Northwest leads green renos 45% adoption.

Statistic 128

Low-income households (<$50k) 25% maintenance-only renos.

Statistic 129

Mountain West avg deck additions 40% higher.

Statistic 130

Asian American homeowners invest 30% more in kitchens.

Statistic 131

Southeast U.S. hurricane-proofing renos up 50%.

Statistic 132

Empty nesters (65+) 35% basement conversions.

Statistic 133

Chicago metro reno spend $12B annually.

Statistic 134

Single women homeowners reno 18% more than men.

Statistic 135

Plains states farmhome renos focus barns 22%.

Statistic 136

High-density urban (e.g. Boston) 60% small-space hacks.

Statistic 137

Black homeowners prioritize equity-building renos 48%.

Statistic 138

Alaska/Hawaii high material costs 40% above avg.

Statistic 139

College-educated households reno 1.5x frequency.

Statistic 140

Gulf Coast flood-resistant flooring 65% renos.

Statistic 141

LGBTQ+ homeowners customize 25% more boldly.

Statistic 142

Northeast winters drive 50% insulation upgrades.

1/142

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Beneath the fresh paint and new countertops lies a global economic powerhouse, as evidenced by the staggering $1.05 trillion global renovation market and the fact that American homeowners alone spent an average of $15,000 on improvements last year.

Key Takeaways

The U.S. home improvement and repairs market reached $474 billion in spending in 2022, marking a 4% increase from 2021.
Global home renovation market size was valued at $1.05 trillion in 2023 and is expected to grow at a CAGR of 5.2% from 2024 to 2032.
U.S. residential remodeling expenditures totaled $455 billion in 2023, down 2.4% from 2022 peak.
54% of U.S. homeowners undertook home improvement projects in 2023, average spend $15,000.
Millennials (ages 28-43) spent average $22,500 on renovations in 2023, highest among generations.
68% of U.S. homeowners plan to renovate within next 2 years, budgeting $10,000-$50,000.
U.S. kitchen remodels most popular project, 35% of all renovations in 2023.
Bathroom renovations accounted for 28% of projects, average duration 4 weeks.
45% of homeowners added home offices, with built-ins in 60% of cases.
U.S. remodeling industry employs 3.6 million workers as of 2023.
650,000 professional remodeling firms operate in U.S., 90% small businesses under 5 employees.
Remodeler revenue averaged $1.2 million per firm in 2023.
28% of U.S. homeowners in suburbs renovated in 2023 vs. 22% urban.
Northeast U.S. avg reno spend $20,500 highest regionally.
California home reno market $85B, 18% national share.

The global home renovation market is thriving, valued at over one trillion dollars and growing steadily worldwide.

Consumer Spending and Trends

54% of U.S. homeowners undertook home improvement projects in 2023, average spend $15,000.
Millennials (ages 28-43) spent average $22,500 on renovations in 2023, highest among generations.
68% of U.S. homeowners plan to renovate within next 2 years, budgeting $10,000-$50,000.
Average U.S. kitchen remodel cost $30,000 in 2024, up 5% from 2023.
42% of renovation spending in 2023 was on discretionary upgrades vs. maintenance.
Gen Z homeowners average renovation spend $12,000 annually, focusing on personalization.
75% of U.S. homeowners financed renovations with savings or cash in 2023.
Average bathroom remodel cost in U.S. $25,000 in 2024, with 60% ROI.
31% of homeowners increased renovation budgets due to remote work needs in 2023.
Boomers (55+) average $18,000 spend on home improvements yearly.
49% of U.S. renters also spent on home improvements averaging $5,000 in 2023.
Energy-efficient upgrades saw 25% spending increase to $60 billion in U.S. 2023.
Average U.S. homeowner spent 2.5% of home value on renovations in 2023.
62% of high-income households ($100k+) spent over $20,000 on 2023 projects.
Outdoor living space investments averaged $15,000 per project in 2023.
38% of renovations delayed due to inflation, average budget overrun 15%.
Smart home tech integration cost average $5,500 per home in 2023 spends.
Women-led purchasing decisions in 55% of U.S. renovation projects, avg spend higher.
Multi-generational households spent 30% more on accessibility mods $25,000 avg.
47% of urban homeowners spent on cosmetic updates averaging $8,000 in 2023.
Home office remodels averaged $12,500 spend post-pandemic in 2023.
66% of renovators used credit cards for small projects under $5,000.
Luxury renovation spends topped $100,000 for 12% of affluent households.
Sustainable materials premium added 20% to average project costs $6,000 extra.
52% of Baby Boomers refinanced for renovations, average loan $50,000.
First-time buyers spent 18% more on updates $16,000 avg in first year.
Pandemic backlogs led to 22% higher spends on deferred maintenance $10,000 avg.

Consumer Spending and Trends Interpretation

While millennials are busy outspending everyone else to finally make their homes Instagram-worthy, the rest of the population is frantically renovating with cash, battling budget overruns, and proving that the national pastime is no longer baseball but rather nervously upgrading a kitchen for a questionable return on investment.

Industry Players and Employment

U.S. remodeling industry employs 3.6 million workers as of 2023.
650,000 professional remodeling firms operate in U.S., 90% small businesses under 5 employees.
Remodeler revenue averaged $1.2 million per firm in 2023.
Construction labor shortage: 382,000 unfilled jobs in residential remodeling 2023.
Top 200 remodelers generated $15 billion combined revenue 2023.
Carpenter wages averaged $28/hour in remodeling sector 2023.
78% of remodelers report hiring difficulties for skilled trades.
Home Depot and Lowe's capture 25% of $925B retail market.
Supplier inventories up 15% to meet remodeling demand 2023.
42% of remodelers use software for project management.
Insurance costs rose 20% for remodelers in 2023.
Franchise remodelers grew 12% to 1,200 locations.
Electrician demand up 25% in reno projects.
Plumber average hourly rate $45 in remodeling.
55% of firms family-owned, multi-generational.
Material costs 40% of project budgets for contractors.
Marketing spend avg 5% of revenue for remodelers.
Women-owned remodeling firms up 18% to 15% market share.
Subcontractor usage 85% of projects over $50k.
Profit margins averaged 12.5% for remodelers 2023.
Painter/Decker wages $22/hour avg.
Tech adoption: 60% use CRM for leads.
Licensing compliance issues in 22% small firms.
Largest remodeler: Case Design/Remodeling $250M revenue.
Apprenticeship programs trained 50,000 new workers 2023.
Vendor partnerships key for 70% supply chain stability.
HVAC contractor firms 120,000 nationwide.
Bid win rate avg 35% for competitive projects.
Safety incidents down 10% with OSHA training.

Industry Players and Employment Interpretation

Despite a lucrative $1.2 million average revenue and 650,000 firms itching for your business, getting your kitchen done is still a high-stakes, high-blood-pressure odyssey because the industry is a vast archipelago of capable but swamped family shops, all desperately trying to hire that one mythical, available electrician while fending off the lumbering giants and their own rising insurance costs.

Market Size and Growth

The U.S. home improvement and repairs market reached $474 billion in spending in 2022, marking a 4% increase from 2021.
Global home renovation market size was valued at $1.05 trillion in 2023 and is expected to grow at a CAGR of 5.2% from 2024 to 2032.
U.S. residential remodeling expenditures totaled $455 billion in 2023, down 2.4% from 2022 peak.
The European home renovation market is projected to reach €1.2 trillion by 2030, driven by energy efficiency mandates.
In 2023, the Asia-Pacific home renovation sector grew by 7.1% YoY, reaching $450 billion.
U.S. home improvement retail sales hit $925 billion in 2023, up 1.5% from prior year.
Canadian home renovation spending was CAD 72.5 billion in 2023, with 6% growth forecast for 2024.
UK home improvement market valued at £38 billion in 2023, expected to grow 4.8% annually to 2028.
Australian residential renovation market size was AUD 45 billion in FY2023, up 3.2%.
In 2024, U.S. remodeling market projected at $480 billion, recovering from 2023 slowdown.
Global smart home renovation segment within market expected to grow from $25B in 2023 to $85B by 2030 at 19% CAGR.
Brazil home renovation market expanded 8.5% in 2023 to BRL 120 billion.
Indian home renovation industry valued at INR 2.5 lakh crore in FY2023, CAGR 12% projected to 2028.
French home renovation turnover reached €45 billion in 2023, boosted by green incentives.
U.S. DIY home improvement market segment was $109 billion in 2023.
Mexico's home remodeling market grew 5.3% YoY to $35 billion USD equivalent in 2023.
South Korea home renovation spending hit KRW 50 trillion in 2023, up 4.7%.
Germany's renovation market at €92 billion in 2023, with 3% growth expected in 2024.
U.S. professional remodeling services accounted for 78% of $474B market in 2022.
China home decoration and renovation market size $650 billion in 2023, CAGR 6.5% to 2028.
Italy's home renovation sector generated €40 billion in 2023, driven by superbonus incentives.
U.S. market forecast: remodeling spending to hit $524 billion by 2026.
Spain home improvement market €25 billion in 2023, growth 4.1%.
Turkey renovation market reached TRY 300 billion in 2023, up 15% due to inflation.
Netherlands home renovation spending €18 billion in 2023, projected 5% CAGR to 2030.
U.S. home improvement e-commerce sales $120 billion in 2023, 13% of total.
Sweden renovation market SEK 150 billion in 2023, green renovations 40% share.
U.S. aging-in-place renovations segment $40 billion in 2023.
Poland home renovation industry PLN 100 billion in 2023, 7% growth.
U.S. 2024 remodeling market outlook: $485 billion with 1.1% growth.

Market Size and Growth Interpretation

The world’s homes are in a constant state of becoming, and humanity is now collectively spending over a trillion dollars a year to tell them what to be.

Popular Renovation Projects

U.S. kitchen remodels most popular project, 35% of all renovations in 2023.
Bathroom renovations accounted for 28% of projects, average duration 4 weeks.
45% of homeowners added home offices, with built-ins in 60% of cases.
Curb appeal projects like siding/landscaping in 32% of 2023 renovations.
Aging-in-place mods (ramps, widened doors) up 40% since 2020.
Outdoor kitchens installed in 22% of backyard renos, cost avg $40k.
Basement finishing projects surged 25%, adding 500 sq ft avg.
Smart home integrations in 48% of electrical upgrades.
Roof replacements top maintenance project at 18% of spends.
Deck/patio additions in 29% of homes, using composite materials 55%.
HVAC system upgrades for efficiency in 35% of mechanical renos.
Window replacements doubled efficiency claims in 42% projects.
Closet organization systems in 26% of interior renos.
Laundry room upgrades popular in 19%, adding washers/dryers.
Garage conversions to ADUs in 15% of urban projects.
Flooring updates (LVP) in 51% of projects, replacing carpet.
Painting interior/exterior in 67% as starter projects.
Solar panel installations up 30% in rooftop renos.
Fireplace upgrades to electric/gas in 12% living room renos.
Mudroom additions in 24% entryway projects for families.
Crown molding/millwork in 33% cosmetic interior updates.
Pool installations rare but up 18% in luxury homes.
Attic conversions to bedrooms in 11% space expansion projects.
Hardscape landscaping (patios) in 37% yard renos.
Cabinet refacing over full replacement in 55% kitchen jobs.
Soundproofing added to 16% of home theater renos.
EV charger installations in 28% garage upgrades.
Wallpaper returns in 21% accent wall projects.

Popular Renovation Projects Interpretation

America is obsessed with updating its kitchens, but these numbers reveal we’re quietly building a nation of efficient, multi-generational, work-from-home sanctuaries with nice floors and a place to charge the car.

Regional and Demographic Insights

28% of U.S. homeowners in suburbs renovated in 2023 vs. 22% urban.
Northeast U.S. avg reno spend $20,500 highest regionally.
California home reno market $85B, 18% national share.
Florida leads in pool/ outdoor renos 35% of projects.
Rural areas saw 15% reno growth vs. 8% urban 2023.
Texas avg kitchen reno $35k due to larger homes.
Midwest 40% focus on energy efficiency upgrades.
New York City reno permits up 12%, avg cost $50k.
Sunbelt states 55% of national ADU additions.
Households with children under 18 renovate 2x more often.
Hispanic homeowners reno spend up 28% YoY.
Age 35-54 demo highest reno activity 62% participation.
Pacific Northwest leads green renos 45% adoption.
Low-income households (<$50k) 25% maintenance-only renos.
Mountain West avg deck additions 40% higher.
Asian American homeowners invest 30% more in kitchens.
Southeast U.S. hurricane-proofing renos up 50%.
Empty nesters (65+) 35% basement conversions.
Chicago metro reno spend $12B annually.
Single women homeowners reno 18% more than men.
Plains states farmhome renos focus barns 22%.
High-density urban (e.g. Boston) 60% small-space hacks.
Black homeowners prioritize equity-building renos 48%.
Alaska/Hawaii high material costs 40% above avg.
College-educated households reno 1.5x frequency.
Gulf Coast flood-resistant flooring 65% renos.
LGBTQ+ homeowners customize 25% more boldly.
Northeast winters drive 50% insulation upgrades.

Regional and Demographic Insights Interpretation

The suburbs are having a moment, retirees are digging out the basement, and everyone from Florida to the Pacific Northwest is frantically renovating their homes—whether to outrun a hurricane, impress their children, or finally build that dream pool—proving that the American dream is now a very expensive, highly customized DIY project.

Sources & References

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