Homeowners Spend almost $8,000 per Remodeling Project in 2018
CENTURY 21 All Professional

The National Association of Homebuilders (NAHB) studied remodeling activity in 26,000 zip codes across the US. What they found was the average homeowner spent $7,893 in 2018 on each remodeling project. The amount of money spent on remodeling varies widely by zip code. In the most expensive markets—New York/Newark New Jersey, Fairfield CT, a zip code on Lake Michigan, a suburb of Boston, a suburb of Chicago—the average spent on each remodeling project was $18,000.

Money Spent on Remodeling in Florida

NAHB also looked at spending by state on remodeling projects. Florida ranked 4th in the nation with over $11,403,000,000 spent on remodeling projects in 2018. The top three states for dollars spent on remodeling were California, Texas and New York. See all of the states here.

Florida Remodeling Stats for 2018

  • 5,068,311 owner occupied homes
  • 1,447,767 of those homes had at least one remodeling project completed
  • $7,878 was the average cost of each project

While $, 8000 is a nice chunk of change, it’s hardly enough to do a complete kitchen renovation (the average cost is over $50,000). Nor is it enough to do a complete bath remodel or add a master bedroom. But there are many popular remodeling projects that can be done for less than $8,000. Here are a few from Home & Garden Magazine:

Home Improvements for $500

  • Add a new fireplace surround or mantel
  • Add or replace a tile backsplash
  • Replace the front door
  • Redo a powder room with paint and new fixtures

Home Improvements for $1,000 – $5,000

  • Organize the garage with cabinets, workbench and more
  • Add a solar hot water heater
  • Update kitchen appliances
  • Add a kitchen island
  • Add curb appeal with a nicer driveway –paver stones or stained concrete
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