41+ Home Improvement & Remodeling Statistics 2022
Table of Content Over 50% of Homes in The United States Were Built Prior to 1980. Why do homeowners invest in home improvement? Value of homeowner improvements and repair expenditure in the United States from Q1 2015 to Q1 2021 with forecast for 2022 How much does the average American spend on house maintenance? What Is the Most Popular Kind of Home Remodeling Project? Home Improvement Related Statistics Spending on home improvement is growing at twice the rate of all the other categories of retail. In the top 90th percentile, the median spending reached $100,000, a 15% gain over 2020 and more than 2x the annual increase in previous years. Recent residential real estate market trends and the impact of the COVID-19 pandemic also played a role in boosting the home remodeling revenue. The top three home improvement projects are interior painting, bathroom remodeling, and installing smart home devices. The home remodeling industry is worth a whopping $462 billion in 2022 — up from ...