The recently released 2024 U.S. Houzz & Home Study: Renovation Trends surveyed 32,615 homeowners, with 17,713 who either renovated in 2023 or have planned projects this year. Major findings included a three-year high in remodeling activity with a median spend of $24,000, an increase of 9.1% over 2022. The survey found that 56% of homeowners renovated in 2023, down two percentage points from the prior year. Kitchens remained the most popular and expensive room to renovate, with the median spend increasing 20% over 2022 to $24,000. Bathrooms also remained a primary project with a median investment of $15,000.
Baby boomers were the largest group renovating last year, at 56%; however, the median spend among GenXers was higher for the second year in a row at $25,000.
Last year, 37% of respondents purchased large furniture, and 33% invested in storage and organization, declining by 13 and 12 percentage points, respectively.
In 2024, 52% of homeowners surveyed expect to remodel, dipping three percentage points from 2023, and 46% plan to decorate, two percentage points lower than the prior year. The planned median spend for these renovations is $15,000, consistent with 2023. See 2024 Houzz & Home Study
