Key Takeaways From the 2020 U.S. Houzz & Home Study
The median spend on remodels declined modestly in 2019. Baby boomer and Gen X homeowners drove most of the activity
The national median spending amount on a home renovation project in 2019 was $13,000, according to the 2020 U.S. Houzz & Home study, down modestly from $15,000 the year before. Median is the midpoint spending level, meaning half of renovating homeowners on Houzz spent more and half spent less.
Despite the dip, last year’s median spend of $13,000 was still greater than the $10,000 that renovating homeowners had planned to spend on their projects in 2019.
The study also found that older generations continued to drive residential remodeling activity, with baby boomers and Gen Xers accounting for 85% of renovating homeowners on Houzz in 2019, up from 83% the year before. Baby boomers had the highest national median spend among all generations ($15,000), while Gen Xers had the second-highest ($12,000).
Get more details on the key findings of the study, and find out which rooms homeowners remodeled, below.
Despite the dip, last year’s median spend of $13,000 was still greater than the $10,000 that renovating homeowners had planned to spend on their projects in 2019.
The study also found that older generations continued to drive residential remodeling activity, with baby boomers and Gen Xers accounting for 85% of renovating homeowners on Houzz in 2019, up from 83% the year before. Baby boomers had the highest national median spend among all generations ($15,000), while Gen Xers had the second-highest ($12,000).
Get more details on the key findings of the study, and find out which rooms homeowners remodeled, below.
The Houzz & Home survey is the largest publicly available survey of residential remodeling, building and decorating activity in the U.S. The 2020 survey — fielded between Jan. 2 and March 5, prior to the shelter-in-place orders related to the coronavirus pandemic — collected information from more than 87,000 U.S. respondents.
National Median Spend on Renovations Declined Modestly in 2019
The left side of this chart shows the national median spending amount among renovating homeowners on Houzz for the past three years. For 2019, the national median was $13,000, down from $15,000 the two previous years. As mentioned above, the median spend on home renovations was still higher than the national planned spend ($10,000) among renovating homeowners for 2019. Please note that the numbers here include both renovations done as DIY projects and those that involved home professionals.
Economists like to reference the median, or midpoint, figure rather than the average, because the average can be skewed misleadingly high because of a single project that costs far more than others.
The decrease in the median renovation spending amount for 2019 compared with prior years is in line with a modest decline in the average number of projects that renovating homeowners addressed, along with a decrease in project scope.
In 2019, homeowners renovated an average of 2.7 interior rooms; upgraded 2.3 home systems, such as electrical, plumbing and air conditioning; and did 2.6 exterior upgrades. Each of those averages is down slightly compared with the year before.
The right side of the graph shows renovation spending by homeowners at the 90th percentile — in other words, homeowners who are in the top 10% in terms of their renovation spend. For this group, renovation spending started at $80,000 in 2019 and went up from there. That’s in line with spending levels for the top 10% of renovating homeowners in 2018, though it’s down from the $85,000 starting point for this group in 2017.
The left side of this chart shows the national median spending amount among renovating homeowners on Houzz for the past three years. For 2019, the national median was $13,000, down from $15,000 the two previous years. As mentioned above, the median spend on home renovations was still higher than the national planned spend ($10,000) among renovating homeowners for 2019. Please note that the numbers here include both renovations done as DIY projects and those that involved home professionals.
Economists like to reference the median, or midpoint, figure rather than the average, because the average can be skewed misleadingly high because of a single project that costs far more than others.
The decrease in the median renovation spending amount for 2019 compared with prior years is in line with a modest decline in the average number of projects that renovating homeowners addressed, along with a decrease in project scope.
In 2019, homeowners renovated an average of 2.7 interior rooms; upgraded 2.3 home systems, such as electrical, plumbing and air conditioning; and did 2.6 exterior upgrades. Each of those averages is down slightly compared with the year before.
The right side of the graph shows renovation spending by homeowners at the 90th percentile — in other words, homeowners who are in the top 10% in terms of their renovation spend. For this group, renovation spending started at $80,000 in 2019 and went up from there. That’s in line with spending levels for the top 10% of renovating homeowners in 2018, though it’s down from the $85,000 starting point for this group in 2017.
The Majority of Renovating Homeowners Were Baby Boomers or Gen Xers
This pie chart shows the share of renovating homeowners on Houzz in 2019 by generation. As mentioned, baby boomers (ages 55-74) and Gen Xers (40-54) comprised 85% of those on Houzz who renovated in 2019, up from 83% in 2018. Millennials (ages 25-39) accounted for 12% of renovating homeowners on Houzz in 2019, a smaller share than the 20% slice of the U.S. population they represent.
Baby boomers were more likely to renovate because they had wanted to all along (58%) than because they’d recently purchased a home and wanted to customize it (20%). Millennials’ renovations were commonly motivated by a recent home purchase (43%).
As mentioned above, baby boomers have a national median spending amount of $15,000, compared with $12,000 for Gen Xers and $10,000 for Millennials.
This pie chart shows the share of renovating homeowners on Houzz in 2019 by generation. As mentioned, baby boomers (ages 55-74) and Gen Xers (40-54) comprised 85% of those on Houzz who renovated in 2019, up from 83% in 2018. Millennials (ages 25-39) accounted for 12% of renovating homeowners on Houzz in 2019, a smaller share than the 20% slice of the U.S. population they represent.
Baby boomers were more likely to renovate because they had wanted to all along (58%) than because they’d recently purchased a home and wanted to customize it (20%). Millennials’ renovations were commonly motivated by a recent home purchase (43%).
As mentioned above, baby boomers have a national median spending amount of $15,000, compared with $12,000 for Gen Xers and $10,000 for Millennials.
Kitchens and Bathrooms Were Top Projects in 2019
In 2019, kitchens continued to be the most commonly renovated spaces, followed by bathrooms.
Notably, 1 in 10 renovating homeowners on Houzz remodeled or added a home office last year.
In 2019, kitchens continued to be the most commonly renovated spaces, followed by bathrooms.
Notably, 1 in 10 renovating homeowners on Houzz remodeled or added a home office last year.
Half of Homeowners Continued Remodeling During the Pandemic in 2020
The 2020 U.S. Houzz & Home study was fielded before the shelter-in-place orders in the U.S. and included questions on plans for renovations in 2020. While those early-in-the-year plans may no longer reflect current sentiment, a subsequent survey in late April showed that half of homeowners (51%) who were already in the midst of a project continued it during the pandemic, while 47% put their projects on hold and 1% canceled them.
See more results from the 2020 U.S. Houzz & Home study
Your turn: Whether you’re a pro or a homeowner, we’d love to hear about your experiences with remodels now. Share your thoughts in the Comments.
More on Houzz
Read more stories about Houzz research
Browse millions of home photos for inspiration
The 2020 U.S. Houzz & Home study was fielded before the shelter-in-place orders in the U.S. and included questions on plans for renovations in 2020. While those early-in-the-year plans may no longer reflect current sentiment, a subsequent survey in late April showed that half of homeowners (51%) who were already in the midst of a project continued it during the pandemic, while 47% put their projects on hold and 1% canceled them.
See more results from the 2020 U.S. Houzz & Home study
Your turn: Whether you’re a pro or a homeowner, we’d love to hear about your experiences with remodels now. Share your thoughts in the Comments.
More on Houzz
Read more stories about Houzz research
Browse millions of home photos for inspiration