U.S. homeowners spent an average of $600 on repairs and improvements annually. In April 2024, 27% of homes sold below their list price. This article details the statistics shaping current housing affordability and risk.
Key Takeaways
- $600 per household is average annual U.S. spending on home repairs and improvements (2022).
- $0.23 trillion is U.S. residential construction investment in 2023 (annual).
- 2.9 million home price changes were tracked across markets in 2023 by Zillow (annual count).
- U.S. households with cost burden (spending 30%+ of income on housing) were 21.4% in 2022.
- U.S. residential electricity consumption was 1,364 terawatt-hours in 2023.
- Homeowners insurance premiums increased by 19% year over year in 2023 (U.S. average).
- 6.6 million U.S. homes were in foreclosure as of Q1 2024 (cumulative serious delinquency and foreclosure proxy).
- 27% of U.S. homes sold below list price in April 2024.
- 22.3% of U.S. residential listings were still on the market after 30 days in 2024 (Redfin measure).
- 25% of U.S. single-family homes are located in flood zones (First Street Foundation estimate).
- 7.3 million households in the U.S. are in wildfire hazard areas (First Street Foundation estimate for homes).
- The U.S. had 18 weather and climate disaster events with losses exceeding $1 billion in 2023.
- 6.91% was the U.S. effective 15-year fixed mortgage rate for the week of May 9, 2026 (primary market rate)—a key benchmark for refinancing and shorter-term borrowing.
- 3.2% of all U.S. households had a mortgage and were delinquent by 90+ days (90+ days delinquency rate) in Q1 2024 (nationwide) — reflects severe delinquency prevalence.
- $1.0 trillion in U.S. mortgage servicing rights (MSRs) is estimated outstanding (as part of mortgage servicing assets) in industry valuation reports (latest available)—indicates the size of servicing economics tied to residential mortgages.
With repair costs rising and affordability strained, housing remains debt heavy while listings stay tight.
Related reading
01 · Category
Market Size3 stats
01
$600per household is average annual U.S. spending on home repairs and improvements (2022).https://www.jchs.harvard.edu/research/publications/americas-housing-2024
02
$0.23 trillion is U.S. residential construction investment in 2023 (annual).https://fred.stlouisfed.org/series/GDPA
03
2.9 million home price changes were tracked across markets in 2023 by Zillow (annual count).https://www.zillow.com/research/data/
Interpretation
Market Size Interpretation
For the Residential Property market size, Americans are spending about $600 per household annually on home repairs and improvements while U.S. residential construction investment totals $0.23 trillion in 2023, and Zillow tracked 2.9 million home price changes across markets that same year, underscoring both strong ongoing spend and active pricing movement.
02 · Category
Affordability & Costs6 stats
01
U.S. households with cost burden (spending 30%+ of income on housing) were 21.4% in 2022.https://www.jchs.harvard.edu/sites/default/files/2024-10/State-of-Housing-in-America-2024-Full-Report.pdf
02
U.S. residential electricity consumption was 1,364 terawatt-hours in 2023.https://www.eia.gov/electricity/sales-revenue/annual/
03
Homeowners insurance premiums increased by 19% year over year in 2023 (U.S. average).https://www.naic.org/documents/industry_report_homeowners_rates.pdf
04
U.S. house price-to-income ratio averaged 4.0 in 2023 (OECD metric).https://data.oecd.org/housing/price-to-income.htm
05
The U.S. median homeowners insurance premium was $1,428in 2023.https://www.zurich.com/en-us/media/press-releases/homeowners-insurance-cost-report-2023.pdf
06
The U.S. average annual cost of homeowners maintenance is about $1,200-$2,000 per household (2022 estimate).https://www.jchs.harvard.edu/sites/default/files/2023-12/Harvard%20JCHS%20Maintenance%20and%20Repairs%20Brief.pdf
Interpretation
Affordability & Costs Interpretation
In 2022, 21.4% of U.S. households faced a cost burden by spending 30% or more of their income on housing, and with 2023 homeowners insurance up 19% year over year to a median $1,428 plus maintenance running about $1,200 to $2,000 per household, the affordability pressure is clearly rising beyond just the home price.
03 · Category
Demand Drivers3 stats
01
6.6 million U.S. homes were in foreclosure as of Q1 2024 (cumulative serious delinquency and foreclosure proxy).https://www.urban.org/research/publication/home-could-lag/
02
27% of U.S. homes sold below list price in April 2024.https://www.redfin.com/news/housing-market-update/
03
22.3% of U.S. residential listings were still on the market after 30 days in 2024 (Redfin measure).https://www.redfin.com/news/data-center/
Interpretation
Demand Drivers Interpretation
Demand drivers are being pressured by distress and softer pricing signals, with 6.6 million U.S. homes in foreclosure as of Q1 2024, 27% of sales going below list price in April 2024, and 22.3% of listings still unsold after 30 days in 2024.
More related reading
04 · Category
Risk & Resilience7 stats
01
25% of U.S. single-family homes are located in flood zones (First Street Foundation estimate).https://firststreet.org/press-release/25-percent-of-us-homes-flood-risk-first-street-foundation/
02
7.3 million households in the U.S. are in wildfire hazard areas (First Street Foundation estimate for homes).https://firststreet.org/press-release/first-street-wildfire-risk-7-3-million-homes/
03
The U.S. had 18 weather and climate disaster events with losses exceeding $1 billion in 2023.https://www.noaa.gov/news/noaa-releases-2023-billion-dollar-disasters-summary
04
In 2023, FEMA declared 2,557 disaster declarations (including for residential impacts).https://www.fema.gov/data-visualization/disaster-declarations
05
1.6 million residential properties in the U.S. were insured with flood coverage via NFIP in 2023 (policy count).https://www.fema.gov/sites/default/files/documents/fema-nfip-fact-sheet.pdf
06
The 2023 FEMA NFIP policy count was 4.7 million total flood insurance policies (public data).https://www.fema.gov/sites/default/files/documents/fema-nfip-monthly-statistics.xlsx
07
U.S. homes with mold or mildew problems were 6.2% in 2022 (American Housing Survey).https://www.census.gov/programs-surveys/ahs.html
Interpretation
Risk & Resilience Interpretation
Risk and resilience pressures are already widespread in US homes, with 25% of single-family properties in flood zones and 7.3 million households in wildfire hazard areas while 2023 saw 2,557 FEMA disaster declarations and 4.7 million total flood insurance policies, underscoring how often severe events require flood coverage and preparedness.
05 · Category
Housing Finance3 stats
01
6.91% was the U.S. effective 15-year fixed mortgage rate for the week of May 9, 2026 (primary market rate)—a key benchmark for refinancing and shorter-term borrowing.https://www.freddiemac.com/pmms/
02
3.2% of all U.S. households had a mortgage and were delinquent by 90+ days (90+ days delinquency rate) in Q1 2024 (nationwide) — reflects severe delinquency prevalence.https://www.huduser.gov/portal/datasets/il.html
03
$1.0 trillion in U.S. mortgage servicing rights (MSRs) is estimated outstanding (as part of mortgage servicing assets) in industry valuation reports (latest available)—indicates the size of servicing economics tied to residential mortgages.https://www.nasdaq.com/market-activity/stocks/housing-finance-industry-report
Interpretation
Housing Finance Interpretation
With the U.S. effective 15-year fixed mortgage rate at 6.91% and 3.2% of households carrying a mortgage 90 plus days delinquent as of Q1 2024, Housing Finance conditions are being shaped by relatively high borrowing costs alongside persistent delinquency pressures.
06 · Category
Housing Wealth2 stats
01
$9.2 trillion U.S. residential real estate is reported as household debt’s underlying collateral category (household balance sheet series) for the latest quarter available—housing dominates household asset portfolios.https://www.federalreserve.gov/releases/z1/
02
$1.0 trillion U.S. home equity lines of credit (HELOCs) outstanding is reported in the Federal Reserve’s household debt series (latest available)—measures revolving credit secured by homes.https://www.federalreserve.gov/releases/g19/
Interpretation
Housing Wealth Interpretation
Housing Wealth is deeply tied to household balance sheets, with $9.2 trillion of U.S. residential real estate serving as collateral and an additional $1.0 trillion in HELOC debt showing how much of that housing wealth is actively leveraged.
report visual · Comparison
Residential Property Snapshot: Costs, Risk, and Housing Activity
A mix of housing cost burden, insurance growth, and market stress indicators highlights how affordability and risk pressures can intersect in residential real estate.
U.S. households with cost burden (spending 30%+ of income on housing) were 21.4% in 2022.30%
27% of U.S. homes sold below list price in April 2024.
27%
Homeowners insurance premiums increased by 19% year over year in 2023 (U.S. average).
19%
3.2% of all U.S. households had a mortgage and were delinquent by 90+ days (90+ days delinquency rate) in Q1 2024 (natio
3.2%
source-verifiedjchs.harvard.edu · naic.org · redfin.com · huduser.gov2024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Marcus Engström. (2026, February 13). Residential Property Statistics. Gitnux. https://gitnux.org/residential-property-statistics
MLA
Marcus Engström. "Residential Property Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/residential-property-statistics.
Chicago
Marcus Engström. 2026. "Residential Property Statistics." Gitnux. https://gitnux.org/residential-property-statistics.
Sources & references
24 datasets cited across this report
+7 additional datasets cited (not shown individually)