Currently Reading

The Cost of Remodeling Is on the Rise


The Cost of Remodeling Is on the Rise

June 27, 2018
Home remodeling project
Photo: Pixabay/artursfoto

The tight housing market has more homeowners renovating current properties, driving up the demand for residential remodeling professionals.

Paired with rising demand, the rising costs of labor and building materials have caused the price for home improvement projects to increase, CNBC reports. But this has not deterred homeowners; a recent report from Harvard’s Joint Center for Housing Studies predicts that the annual growth in homeowner remodeling spending will remain above 7 percent into 2019. Homeowners are especially willing to spend on projects that may increase their home’s resale value.

Homeowners remodeling their kitchens spent 10 percent more than in 2016, and for major kitchen remodels (more than 200 square feet), the spending increased from a $30,000 median renovation in 2016 to $33,000 in 2017.

While kitchens and bathrooms continue to be the most popular upgrades, master bedroom/bathroom suites moved up to the number three spot, overtaking living/family room remodels. The median amount spent on a master bedroom remodel increased 33 percent ($2,000 in 2017 versus $1,500 in 2016). Spending on living/family rooms was unchanged at $3,000.

Read more


Related Stories


Majority of Remodelers Report Lumber, Other Material Shortages

The rising cost of lumber and disrupted supply chains continue to affect nearly all areas of the industry. The National Association of Home…


Home Improvement Spending Expected to See 2021 Gains

Home improvement project budgets have decreased due to the pandemic, but the Joint Center for Housing Studies of Harvard University says there…

Home Improvement Has Surged, Here's Why and Its Effects

Home improvement projects are at an all-time high, according to NPR. The chief economist at, an online marketplace dedicated to…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.