Thanks to the COVID-19 pandemic and many other economic situations, the home improvement industry has been thriving. Here are some of the most important statistics about the home improvement industry:

  • 76% of American homeowners did a home improvement project in 2020.
  • 59% of the US homes were built before 1980.
  • $132.11 Billion was spent at Home Depot in 2021, a 19.85% increase from 2020.
  • Homebuyers ages 40-54 had the highest household income at $113,300.
  • 52% of homeowners who completed home improvement projects in 2020 were Baby Boomers.

Home Improvement Industry Statistics

  • 59% of the US homes were built before 1980.
  • The home improvement market to be worth over $500 billion by 2028 with a CAGR of 6.40% (BlueWeave Consulting)
  • Married couples are more likely to make home improvements than single people.

Home Improvement Average Costs

  • The average cost to remodel a kitchen was $12,567 to $34,962 in 2021.
  • The average cost to remodel a house is $19,800 to $73,200.
  • The average cost to remodel a standard bedroom is around $4,000.
  • The average cost for a professionally installed patio typically costs between $2,363 to $5,909.
  • The average cost for a new fence installation is between $1,667 and $4,075.
  • The average cost for lawn care is between $48 and $211.
  • The average cost for a bathroom remodel is $2,500 to $30,o00.
  • The average cost for an in-ground swimming pool is $28,000 and $55,000.
  • The average cost for a roof replacement is $5,500 to $22,000.
  • The average cost for a room addition is $42,000 to $88,000.
  • The average cost for a window replacement is $200 to $1,800.
  • The average cost for adding a deck is $14,360.
  • The average cost for adding a garage is $6,000 to $20,000.

Home Improvement Market Size

  • The home improvement market size in the United States jumped from $269.9 billion in 2010 to $537.9 billion in 2021 (Statista)
YearSales in U.S. Dollars
2010$269.9 Billion
2011$278.3 Billion
2012$292.8 Billion
2013$308.6 Billion
2014$322.8 Billion
2015$338.6 Billion
2016$357.6 Billion
2017$373.5 Billion
2018$391.4 Billion
2019$406.6 Billion
2020$497.1 Billion
2021$537.9 Billion
2022$558.3 Billion

Home Improvement Company Revenues

  • $132.11 Billion was spent at Home Depot in 2021, a 19.85% increase from 2020.

Home Depot Annual Revenue

YearHome Depot Annual Revenue
2010$66.1 Billion
2011$67.9 Billion
2012$70.3 Billion
2013$74.7 Billion
2014$78.8 Billion
2015$83.1 Billion
2016$88.5 Billion
2017$94.5 Billion
2018$100.9 Billion
2019$108.2 Billion
2020$110.2 Billion
2021$132.1 Billion
2022$151.1 Billion
  • $89.5 Billion was spent at Lowe’s in 2021, up from $72.1 Billion in 2020.

Lowe’s Annual Revenue

YearLowe's Annual Revenue
2010$47.2 Billion
2011$48.8 Billion
2012$50.2 Billion
2013$50.5 Billion
2014$53.4 Billion
2015$56.2 Billion
2016$59 Billion
2017$65 Billion
2018$68.6 Billion
2019$71.3 Billion
2020$72.1 Billion
2021$89.5 Billion
2022$96.2 Billion
  • $8.5 Billion was spent at Ace Hardware in 2021, up from $7.7 Billion in 2020.

Ace Hardware Annual Revenue

YearAce Hardware Annual Revenue
2010$3.5 Billion
2011$3.7 Billion
2012$3.8 Billion
2013$4.1 Billion
2014$4.7 Billion
2015$5 Billion
2016$5.1 Billion
2017$5.3 Billion
2018$5.7 Billion
2019$6 Billion
2020$7.7 Billion
2021$8.5 Billion
  • $13.7 Billion was spent at a paint and wallpaper store in the United States in 2020.

Paint and Wallpaper Store Sales in the United States

YearPaint and Wallpaper Store Sales in the United States
2010$7.97 Billion
2011$8.42 Billion
2012$9.13 Billion
2013$9.42 Billion
2014$10.23 Billion
2015$10.61 Billion
2016$10.97 Billion
2017$11.54 Billion
2018$12.21 Billion
2019$12.64 Billion
2020$13.74 Billion

 

Last Updated: July 27, 2022 / Categories: Construction & Renovation, Home Remodeling Finishes & Fixtures / 1.6 min read / Tags: /

About the Author: Shaun Wright

Shaun Wright

Homepeer is reader-supported. We may earn a commission through products purchased using links on this page. Learn more about our process here.

Subscribe To Receive The Latest News

Add notice about your Privacy Policy here.