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Rising Home Renovation Costs: How Much Are Homeowners Spending Across Major US Cities?

March 8, 2025

4 min Read

Written by Cynthia Measom

Edited by Heather Taylor

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Instead of moving and picking up a new mortgage, more American homeowners are opting to stay put and renovate, according to a new report from Instant Roofer that analyzed data from the latest American Housing survey. And the way they’re spending proves it: Home improvement spending has jumped to $790 billion annually — up 60% since 2019.

According to the survey, homeowners spend an average of $9,000 annually on bigger home improvement expenses. However, in certain U.S. metros, homeowners are spending up to thousands more.

Here’s a look at the U.S. metros where homeowners are spending the most on renovations and how much costs have risen over four years.

Phoenix

Average yearly spending on home improvements: $12,026
Household income spent in 2023: 11.9%
Household income spent in 2019: 7.9%
Percentage point change (2019-2023): 4%

Although Phoenix doesn’t have the highest average annual home improvement spending, it does have one of the most significant percentage point changes from 2019 to 2023 at 4%. Homeowners in the city prioritize spending on outdoor improvements, including pools and landscaping.

Denver

Average yearly spending on home improvements: $14,217
Household income spent in 2023: 11.5%
Household income spent in 2019: 12.2%
Percentage point change (2019-2023): -0.7%

Denver ranks highest for average annual spending on home improvements at more than $14,200. Window and door replacements and room conversions are popular spending areas.

Milwaukee

Average yearly spending on home improvements: $12,018
Household income spent in 2023: 11.2%
Household income spent in 2019: 6.9%
Percentage point change (2019-2023): 4.3%

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Milwaukee has seen its fair share of increase when it comes to average annual spending on home renovations. The percentage point change between 2019 and 2023 is 4.3% — slightly higher than Phoenix. The largest home renovation spending category, according to the study, is roofing, which likely has something to do with the area’s harsh winters.

Riverside, California

Average yearly spending on home improvements: $10,586
Household income spent in 2023: 11%
Household income spent in 2019: 6.2%
Percentage point change (2019-2023): 4.8%

Riverside has the most significant percentage point change out of all cities on the list at almost 5%. The percentage of household income spent on home improvements in 2019 was 6.2% and increased to 11% in 2023.

Seattle

Average yearly spending on home improvements: $13,350
Household income spent in 2023: 10.9%
Household income spent in 2019: 8.8%
Percentage point change (2019-2023): 2.1%

Seattle had a lower percentage point change than many other cities at only 2.1%, but its average yearly spending on home renovations was up there at $13,350.

Cincinnati

Average yearly spending on home improvements: $11,403
Household income spent in 2023: 10.7%
Household income spent in 2019: 6.2%
Percentage point change (2019-2023): 4.5%

Cincinnati also saw a notable percentage point change between 2019 and 2023 — the second-highest on the list.

Cleveland

Average yearly spending on home improvements: $10,070
Household income spent in 2023: 10.7%
Household income spent in 2019: 7%
Percentage point change (2019-2023): 3.7%

Cleveland homeowners are a bit under the national average spending for home renovations, but still fork over north of $10,000.

New Orleans

Average yearly spending on home improvements: $9,350
Household income spent in 2023: 10.5%
Household income spent in 2019: 6.5%
Percentage point change (2019-2023): 4%

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New Orleans homeowners have seen a significant increase in the percentage of household income spent from 2019 to 2023, with a percentage point change of 4%.

Boston

Average yearly spending on home improvements: $12,860
Household income spent in 2023: 9.9%
Household income spent in 2019: 12.6%
Percentage point change (2019-2023): -2.7%

Although Boston homeowners have actually seen a decrease in the amount of household income spent on home improvements from 2019 to 2023, with a percentage point change of -2.7%, spending is still thousands of dollars higher than average at $12,860.

Washington

Average yearly spending on home improvements: $14,050
Household income spent in 2023: 9.8%
Household income spent in 2019: 7.9%
Percentage point change (2019-2023): 1.9%

Washington ranks second-highest on the list for average yearly spending on home renovations at just over $14,000. However, homeowners probably haven’t noticed the difference too much. The percentage point change between 2019 and 2023 was only 1.9%.