Homeowners in large metros are more likely to take on expensive home improvement projects.
NAHB Eye on Housing examined home improvement spending projections for 2016 based on zip code. The areas of major cities with prominent shares of highly educated earners and houses built between 1960 and 1980 had the most spending on remodeling.
Most homeowners who remodeled were projected to spend between $4,500 and $5,500.
At the top of this list, NAHB estimates homeowners will spend over $68 million on improvements in 2016 in zip code 20854, a close-in suburb of Washington, DC. Zip code 20854 has over 15,000 owner-occupied homes (compared to 2,849 for the average zip), with average owners’ income slightly over $280,000. Also, a very high 53 percent of the homes in this zip code were built between 1960 and 1980.