The National Association of Home Builders has released its latest estimates of spending on improvements to owner-occupied homes by zip code for calendar year 2018. These estimates include on the number of owner-occupied homes with improvement spending during the year, total improvement spending by zip code, and drivers of remodeling activity across more than 26,000 zip codes.
In the average zip code, according to these estimates, home owners who remodel will spend an average of $7,893 per home. This number varies widely by zip code; in many zip codes the average expense per improved home is under $5,500 while in many it is over $11,000.
At the very top are 17 zip codes where estimated spending per improved home is over $18,000. Ten of these are in the New York-Newark-Jersey City Metropolitan Statistical Area, two are in Fairfield County, Connecticut; and one is in a suburb of Boston. Of the remaining four, two are zip codes on Lake Michigan in Cook County north of Chicago, and two are close-in suburbs of San Francisco. A summary of the remodeling estimates for each state is available here.Read More