Download the Full ReportRENOVATION ACTIVITY & SPEND HIT THREE-YEAR HIGH: Home renovation activity and spend are at the highest rates reported since 2019. Nearly half of homeowners (51%) renovated in 2021, up seven points from 41% in 2020. Following 13% growth in median renovation spend in 2020, homeowners reported an additional 31% jump in 2021 median spend at $23,500. Homeowners with higher budget projects (the top 10% of spend) invested up to $140,000 in 2021.
PLANNED RENOVATION SPEND INCREASES YEAR-OVER-YEAR: Home renovation activity continues into 2022, with nearly half of homeowners planning to renovate (46%) and nearly two-fifths planning to decorate (38%) this year. For the first time since 2019, homeowners’ with higher-budget renovations (the top 10 percent of spend) planned spend has increased to $89,000 for 2022, a 48% jump.
DEMAND FOR HOME PROFESSIONALS: More than four in five homeowners sought help from professionals for their renovations in 2021 (83%). Homeowners relied most heavily on the expertise of specialty service providers such as electricians (53%) and plumbers (45%) for their projects. That said, builders (30%) were the most hired professionals in construction and design-related services. Interestingly, tile and stone professionals saw a significant 12% jump in 2021 compared with 2020 (25% versus 13%).
SWITCHING UP INTERIORS: Investments in interior rooms remained the priority for more than seven in ten renovating homeowners in 2021 (71%). Kitchens are both the most popular interior room to be upgraded and the room that commanded the highest spend at $30,000. Interior rooms that saw the most dramatic increase in popularity from the previous year included primary bathrooms (23%), living/family room (22%) and dining rooms (19%).
Research Note: The Houzz & Home Survey was sent to registered users of Houzz and fielded March through April 2022.
Download the Full ReportSee the Press Release
RENOVATION ACTIVITY & SPEND HIT THREE-YEAR HIGH: Home renovation activity and spend are at the highest rates reported since 2019. Nearly half of homeowners (51%) renovated in 2021, up seven points from 41% in 2020. Following 13% growth in median renovation spend in 2020, homeowners reported an additional 31% jump in 2021 median spend at $23,500. Homeowners with higher budget projects (the top 10% of spend) invested up to $140,000 in 2021.
PLANNED RENOVATION SPEND INCREASES YEAR-OVER-YEAR: Home renovation activity continues into 2022, with nearly half of homeowners planning to renovate (46%) and nearly two-fifths planning to decorate (38%) this year. For the first time since 2019, homeowners’ with higher-budget renovations (the top 10 percent of spend) planned spend has increased to $89,000 for 2022, a 48% jump.
DEMAND FOR HOME PROFESSIONALS: More than four in five homeowners sought help from professionals for their renovations in 2021 (83%). Homeowners relied most heavily on the expertise of specialty service providers such as electricians (53%) and plumbers (45%) for their projects. That said, builders (30%) were the most hired professionals in construction and design-related services. Interestingly, tile and stone professionals saw a significant 12% jump in 2021 compared with 2020 (25% versus 13%).
SWITCHING UP INTERIORS: Investments in interior rooms remained the priority for more than seven in ten renovating homeowners in 2021 (71%). Kitchens are both the most popular interior room to be upgraded and the room that commanded the highest spend at $30,000. Interior rooms that saw the most dramatic increase in popularity from the previous year included primary bathrooms (23%), living/family room (22%) and dining rooms (19%).
Research Note: The Houzz & Home Survey was sent to registered users of Houzz and fielded March through April 2022.
Download the Full Report
See the Press Release