Home Improvement Industry Statistics: Trends, Growth, Market Size

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

 

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