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)
| Year | Sales 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
| Year | Home 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
| Year | Lowe'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
| Year | Ace 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
| Year | Paint 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 |
