How America Spends $1 Trillion in Home Improvement Costs - Home & Texture
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America Spends Nearly $1 Trillion on Home Improvement: Here’s Where That Money Is Actually Going

October 30, 2023 at 5:32 PM PST

Upkeeping your home can be a necessary evil for many homeowners—necessary because in order to maintain a space that promotes positive mental and physical health, home improvement is a must. But it’s also frustrating because not only can it take up a lot of your energy, but it also costs a whole lot of money.

Home improvement tools left on the ground
Photo credit: Blue Bird 

How much does America spend on home improvement?

According to a research study published by Home Stratosphere, America spends a lot of money on home improvement — $932.771 billion, to be exact. As part of the study, the expert interior design company looked at the spending habits of homeowners from around the world, placing their findings into 13 distinct categories, including home entertainment, major appliances, and smart appliances. The results were fascinating, to say the least.

As per the study, America allocates a majority of its spending ($601.8 billion) toward hardware and DIY tools. And even though the U.S. ranks as the second largest home improvement spender, the country leads the pack when it comes to per capita spending at $2,757.31.

Results also showed that Americans greatly value fun, spending $41.47 on entertainment. Then, of course, there’s the $29.73 billion spent on major appliances such as refrigerators or washing machines, plus another $26.92 billion for smaller appliances like food processors and vacuum cleaners.

And that’s not all — due to the quick advancement of tech and society’s growing safety concerns, Americans have also started to invest heavily ($5.43 billion) in smart security appliances and systems to protect themselves and their homes.

How does the rest of the world measure up?

Though America spends billions on home improvement every year, the country is surprisingly not the biggest spender worldwide. According to research findings, China is the leader in global home improvement spending, averaging approximately $994.542 billion annually.

Behind China and the U.S. is India at $286.86 billion, which is commonly spent on hardware and DIY tools and major appliances due to their rapidly growing middle class.

Coming in at number four is Japan, which spends $157.33 billion on its home improvement needs. And not far behind Japan is Germany, which spends an average of $120.05 billion to keep their homes up to date.



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