Hardware Retailing The Industry's Source for Insights and Information
The Home Improvement Research Institute’s American Housing Survey analyzes the frequency, types and average spend of home improvement projects among U.S. homeowners and the relationship between home improvement activities and housing market conditions. See these fast facts from the study:
Earnings and Home Improvement Spending
The top 20% of earners bring in half of all home improvement spending, while the bottom 40% contribute only 15%, revealing a spending divide driven by income.
Boomers Dominate Spending, but Millennials Follow Closely
Millennials now make up almost a quarter of home improvement spending with Boomers still leading at 39%.
Income Is Most Reliable Predictor in Homeowner Spending
Income predicts how much homeowners spend over race, ethnicity or marital status
Small Share of Homes Drives Big Spending
Bigger, more valuable homes bring in the majority of home improvement spending despite being fewer in number
Home Improvement Spending Predictors
Household income, monthly housing costs and home value are the top predictors of home improvement spending, stronger than any other demographic indicators.
